Eaton Co. plc (NYSE:ETN) Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC cut its position in Eaton Co. plc (NYSE:ETN) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,332 shares of the industrial products company’s stock after selling 1,726 shares during the quarter. Eaton accounts for 1.2% of Alpha Cubed Investments LLC’s holdings, making the stock its 23rd largest holding. Alpha Cubed Investments LLC’s holdings in Eaton were worth $27,323,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Strategic Wealth Partners Ltd. grew its stake in shares of Eaton by 3.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after acquiring an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD grew its stake in Eaton by 16.2% during the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 30 shares in the last quarter. Westmount Partners LLC raised its position in Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 30 shares in the last quarter. Signal Advisors Wealth LLC boosted its stake in shares of Eaton by 3.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after buying an additional 30 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Eaton by 2.1% during the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after buying an additional 32 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Up 0.4 %

Shares of NYSE ETN opened at $346.54 on Tuesday. The firm’s 50 day moving average price is $354.32 and its 200 day moving average price is $329.97. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The firm has a market cap of $136.95 billion, a P/E ratio of 36.87, a price-to-earnings-growth ratio of 2.40 and a beta of 1.06. Eaton Co. plc has a 1 year low of $236.20 and a 1 year high of $379.99.

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

Insider Activity

In other news, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock valued at $27,660,117 in the last 90 days. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on ETN shares. Mizuho boosted their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Barclays increased their target price on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company decreased their price target on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Royal Bank of Canada raised their target price on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, UBS Group began coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target on the stock. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $368.89.

Eaton 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.