Eaton Co. plc (NYSE:ETN) Shares Sold by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC cut its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 47.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,008 shares of the industrial products company's stock after selling 910 shares during the period. Legacy Capital Wealth Partners LLC's holdings in Eaton were worth $335,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ETN. Groupama Asset Managment raised its stake in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN increased its holdings in Eaton by 321.7% during 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 during the period. Morse Asset Management Inc purchased a new position in shares of Eaton in the 3rd quarter valued at about $33,000. Activest Wealth Management grew its position in shares of Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock worth $34,000 after buying an additional 87 shares in the last quarter. Finally, DT Investment Partners LLC purchased a new stake in shares of Eaton during the third quarter worth approximately $37,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on ETN shares. Jefferies Financial Group boosted their price target on shares of Eaton from $400.00 to $440.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Mizuho boosted their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Wells Fargo & Company cut their price target on Eaton from $350.00 to $335.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Barclays upped their price objective on Eaton from $320.00 to $353.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 5th. Finally, Citigroup cut their price objective on shares of Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $366.05.

Insider Transactions at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the firm's stock in a transaction that occurred on 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 sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the 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 transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.

Eaton Stock Performance

NYSE:ETN traded down $0.48 during midday trading on Thursday, reaching $308.95. The stock had a trading volume of 1,982,892 shares, compared to its average volume of 3,330,502. The stock has a market cap of $122.10 billion, a P/E ratio of 32.52, a P/E/G ratio of 2.68 and a beta of 1.05. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. The firm has a fifty day simple moving average of $334.15 and a two-hundred day simple moving average of $332.04.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the previous year, the business earned $2.55 earnings per share. On average, equities analysts expect that Eaton Co. plc will post 12.02 EPS for the current 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.