IVC Wealth Advisors LLC Lowers Stock Position in Eaton Co. plc (NYSE:ETN)

IVC Wealth Advisors LLC trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,379 shares of the industrial products company’s stock after selling 214 shares during the quarter. Eaton makes up approximately 0.8% of IVC Wealth Advisors LLC’s investment portfolio, making the stock its 26th biggest holding. IVC Wealth Advisors LLC’s holdings in Eaton were worth $1,453,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Groupama Asset Managment raised its position 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 acquiring an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN raised its holdings in Eaton by 321.7% in the fourth 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 purchased a new stake in Eaton during the third quarter valued at approximately $33,000. West Financial Advisors LLC acquired a new stake in shares of Eaton in the 3rd quarter worth $35,000. Finally, DT Investment Partners LLC purchased a new position in Eaton during the 3rd quarter worth $37,000. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ETN shares. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and boosted their price target for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Barclays boosted their price objective on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Citigroup cut their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Mizuho lifted their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company cut their price target on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $368.89.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock valued at $27,660,117 in the last ninety days. 0.53% of the stock is currently owned by corporate insiders.

Eaton Stock Down 0.4 %

Shares of NYSE ETN opened at $369.58 on Friday. Eaton Co. plc has a 52-week low of $241.45 and a 52-week high of $379.99. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The company’s 50-day simple moving average is $353.61 and its 200-day simple moving average is $330.74. The firm has a market cap of $146.06 billion, a price-to-earnings ratio of 39.32, a price-to-earnings-growth ratio of 2.48 and a beta of 1.06.

Eaton (NYSE:ETN) last announced its earnings results 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. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.47 EPS. Equities analysts predict that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

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.