Ellsworth Advisors LLC Sells 164 Shares of Eaton Co. plc (NYSE:ETN)

Ellsworth Advisors LLC decreased its holdings in Eaton Co. plc (NYSE:ETN) by 11.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,231 shares of the industrial products company’s stock after selling 164 shares during the period. Ellsworth Advisors LLC’s holdings in Eaton were worth $408,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ETN. Groupama Asset Managment increased its holdings in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares in the last quarter. 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 purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new stake in shares of Eaton in the 3rd quarter worth $33,000. West Financial Advisors LLC bought a new stake in shares of Eaton in the third quarter worth $35,000. Finally, DT Investment Partners LLC bought a new stake in shares of Eaton in the third quarter worth $37,000. Institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

NYSE:ETN opened at $346.54 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $136.95 billion, a P/E ratio of 36.87, a P/E/G ratio of 2.27 and a beta of 1.06. Eaton Co. plc has a 12 month low of $236.20 and a 12 month high of $379.99. The business’s 50-day moving average is $354.32 and its 200 day moving average is $329.97.

Eaton (NYSE:ETN) last posted its 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 company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the business earned $2.47 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities research analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on ETN shares. Bank of America lifted their price objective on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Citigroup cut their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. UBS Group started coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Royal Bank of Canada lifted their price objective on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Sanford C. Bernstein initiated coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $368.89.

Insiders Place Their Bets

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares in the company, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the sale, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock valued at $27,660,117 over the last ninety days. 0.33% of the stock is owned by insiders.

About Eaton

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.