Arkadios Wealth Advisors Has $986,000 Holdings in Eaton Co. plc (NYSE:ETN)

Arkadios Wealth Advisors decreased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 21.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,970 shares of the industrial products company’s stock after selling 832 shares during the period. Arkadios Wealth Advisors’ holdings in Eaton were worth $986,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Geode Capital Management LLC increased its holdings in Eaton by 0.7% in the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after purchasing an additional 56,516 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Eaton by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after acquiring an additional 18,077 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Eaton by 15.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after acquiring an additional 316,830 shares during the period. Janus Henderson Group PLC boosted its stake in Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after acquiring an additional 597,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Eaton by 253.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after purchasing an additional 1,629,856 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Trading Up 0.4 %

Shares of ETN stock opened at $346.54 on Tuesday. Eaton Co. plc has a 12-month low of $236.20 and a 12-month high of $379.99. The firm has a 50 day moving average price of $354.32 and a two-hundred day moving average price of $329.97. 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 has a market capitalization of $136.95 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the company posted $2.47 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current year.

Insider Buying and Selling at Eaton

In related news, insider Craig Arnold sold 61,569 shares of the 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 owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock valued at $27,660,117 in the last quarter. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Bank of America lifted their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Wells Fargo & Company reduced their target price on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and raised their price target for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Mizuho boosted their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, UBS Group began coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $368.89.

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.