Marks Group Wealth Management Inc Sells 1,601 Shares of Eaton Co. plc (NYSE:ETN)

Marks Group Wealth Management Inc lowered its position in shares of Eaton Co. plc (NYSE:ETN) by 5.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 28,313 shares of the industrial products company’s stock after selling 1,601 shares during the period. Eaton accounts for 0.9% of Marks Group Wealth Management Inc’s investment portfolio, making the stock its 26th largest holding. Marks Group Wealth Management Inc’s holdings in Eaton were worth $9,396,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jmac Enterprises LLC purchased a new position in shares of Eaton during the 4th quarter valued at $283,000. Avidian Wealth Enterprises LLC lifted its position in shares of Eaton by 2.6% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,089 shares of the industrial products company’s stock valued at $1,357,000 after acquiring an additional 103 shares in the last quarter. Kentucky Trust Co bought a new position in shares of Eaton in the fourth quarter worth about $76,000. Gladstone Institutional Advisory LLC grew its position in shares of Eaton by 2.3% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 9,995 shares of the industrial products company’s stock worth $3,317,000 after purchasing an additional 227 shares in the last quarter. Finally, Capital Advisors Inc. OK grew its holdings in Eaton by 0.7% during the 4th quarter. Capital Advisors Inc. OK now owns 70,965 shares of the industrial products company’s stock valued at $23,551,000 after buying an additional 474 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton 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 directly owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Eaton Trading Down 0.9 %

Shares of NYSE ETN opened at $316.92 on Wednesday. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The company has a market cap of $125.25 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 2.37 and a beta of 1.05. The business’s 50 day moving average price is $342.21 and its 200-day moving average price is $331.48.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the business earned $2.55 EPS. On average, sell-side analysts expect that Eaton Co. plc will post 12.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ETN. Mizuho lifted 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. JPMorgan Chase & Co. cut their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Citigroup dropped their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Barclays upped their price objective on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, UBS Group began coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $369.20.

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.