Eaton Co. plc (NYSE:ETN) Stock Holdings Lowered by Truist Financial Corp

Truist Financial Corp lessened its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 5.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 551,235 shares of the industrial products company's stock after selling 32,545 shares during the period. Truist Financial Corp owned 0.14% of Eaton worth $182,938,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Horizon Bancorp Inc. IN lifted its holdings in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton in the third quarter valued at approximately $33,000. Activest Wealth Management raised its position in shares of Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock valued at $34,000 after buying an additional 87 shares during the last quarter. DT Investment Partners LLC acquired a new position in shares of Eaton in the third quarter valued at approximately $37,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Eaton in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insiders Place Their Bets

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated 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 completion of the sale, the director now owns 43,203 shares in the company, valued at approximately $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 owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on ETN. Mizuho boosted their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. 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 research report on Thursday, December 5th. Bank of America increased their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Jefferies Financial Group increased their price target on shares of Eaton from $400.00 to $440.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of Eaton from $350.00 to $348.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 15th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $366.05.

Eaton Stock Down 0.2 %

ETN traded down $0.48 during trading hours on Thursday, reaching $308.95. 1,982,892 shares of the stock traded hands, compared to its average volume of 3,330,502. The company has a market cap of $122.10 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 2.68 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The firm's fifty day simple moving average is $334.15 and its two-hundred day simple moving average is $332.04.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the company posted $2.55 earnings per share. As a group, analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

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.