Daymark Wealth Partners LLC Sells 367 Shares of Eaton Co. plc (NYSE:ETN)

Daymark Wealth Partners LLC lowered its position in shares of Eaton Co. plc (NYSE:ETN) by 1.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 19,731 shares of the industrial products company’s stock after selling 367 shares during the period. Daymark Wealth Partners LLC’s holdings in Eaton were worth $6,548,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. B. Riley Wealth Advisors Inc. raised its position in shares of Eaton by 48.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after buying an additional 13,497 shares in the last quarter. Scientech Research LLC raised its holdings in shares of Eaton by 285.5% in the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after acquiring an additional 4,254 shares in the last quarter. Eastover Investment Advisors LLC bought a new stake in shares of Eaton during the 4th quarter valued at about $6,167,000. Neville Rodie & Shaw Inc. grew its holdings in shares of Eaton by 6.8% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company’s stock worth $12,739,000 after purchasing an additional 2,428 shares in the last quarter. Finally, Ballentine Partners LLC increased its position in shares of Eaton by 9.3% in the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after purchasing an additional 790 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction that occurred 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 sale, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock valued at $27,660,117 over the last quarter. 0.33% of the stock is owned by company insiders.

Eaton Price Performance

ETN stock opened at $357.45 on Wednesday. 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 firm’s 50-day moving average price is $353.58 and its two-hundred day moving average price is $330.45. The stock has a market capitalization of $141.27 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 2.40 and a beta of 1.06. Eaton Co. plc has a 12-month low of $239.17 and a 12-month high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.47 EPS. As a group, equities analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Sanford C. Bernstein started coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Mizuho raised their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and upped their price objective for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Finally, Barclays raised their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.