Phoenix Wealth Advisors Sells 293 Shares of Eaton Co. plc (NYSE:ETN)

Phoenix Wealth Advisors lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,828 shares of the industrial products company’s stock after selling 293 shares during the period. Eaton accounts for approximately 1.8% of Phoenix Wealth Advisors’ holdings, making the stock its 11th biggest position. Phoenix Wealth Advisors’ holdings in Eaton were worth $4,257,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Horizon Bancorp Inc. IN increased its holdings in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after buying an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new position in Eaton in the third quarter worth about $33,000. West Financial Advisors LLC bought a new stake in Eaton during the third quarter worth approximately $35,000. DT Investment Partners LLC purchased a new stake in Eaton during the third quarter valued at approximately $37,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of Eaton in the 3rd quarter valued at approximately $44,000. 82.97% of the stock is owned by institutional investors.

Eaton Stock Up 3.2 %

NYSE:ETN opened at $357.45 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The firm has a market cap of $141.27 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 2.40 and a beta of 1.06. The company has a 50-day moving average of $353.58 and a 200 day moving average of $330.45. Eaton Co. plc has a 1-year low of $239.17 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. Eaton’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted $2.47 earnings per share. As a group, research analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Insider Activity at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,981 shares of company stock valued at $27,660,117 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. UBS Group started coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Mizuho raised their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Barclays upped their target price on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $368.89.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.