Geneos Wealth Management Inc. Sells 56 Shares of Eaton Co. plc (NYSE:ETN)

Geneos Wealth Management Inc. cut its holdings in Eaton Co. plc (NYSE:ETN) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,632 shares of the industrial products company’s stock after selling 56 shares during the period. Geneos Wealth Management Inc.’s holdings in Eaton were worth $873,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ETN. Fifth Third Bancorp lifted its stake in shares of Eaton by 4.7% in the 4th quarter. Fifth Third Bancorp now owns 406,199 shares of the industrial products company’s stock valued at $134,805,000 after acquiring an additional 18,154 shares during the last quarter. Gradient Investments LLC increased its stake in Eaton by 9.8% in the 4th quarter. Gradient Investments LLC now owns 53,782 shares of the industrial products company’s stock worth $17,849,000 after purchasing an additional 4,803 shares during the period. Exchange Traded Concepts LLC lifted its position in Eaton by 120.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 11,204 shares of the industrial products company’s stock valued at $3,718,000 after purchasing an additional 6,120 shares during the last quarter. CX Institutional boosted its stake in shares of Eaton by 6.6% during the fourth quarter. CX Institutional now owns 2,567 shares of the industrial products company’s stock valued at $852,000 after purchasing an additional 159 shares during the period. Finally, Berbice Capital Management LLC bought a new position in shares of Eaton in the fourth quarter worth approximately $50,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now owns 43,203 shares in the company, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,981 shares of company stock valued at $27,660,117. Insiders own 0.53% of the company’s stock.

Eaton Trading Down 16.0 %

Shares of NYSE ETN opened at $310.11 on Tuesday. The stock has a market cap of $122.55 billion, a P/E ratio of 32.99, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a 1 year low of $244.35 and a 1 year high of $379.99. The firm has a 50-day moving average of $353.96 and a 200 day moving average of $331.47.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Mizuho upped their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company dropped their target price on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and raised their target price for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Barclays upped their price target on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Finally, Jefferies Financial Group boosted their target price on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Eaton has an average rating of “Moderate Buy” and an average 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.