Confluence Wealth Services Inc. Sells 363 Shares of Eaton Co. plc (NYSE:ETN)

Confluence Wealth Services Inc. reduced its stake in Eaton Co. plc (NYSE:ETN) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,541 shares of the industrial products company’s stock after selling 363 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Eaton were worth $3,498,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ETN. Czech National Bank boosted its holdings in Eaton by 6.4% during the third quarter. Czech National Bank now owns 81,097 shares of the industrial products company’s stock worth $26,879,000 after purchasing an additional 4,912 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in shares of Eaton by 18.4% in the 3rd quarter. Miracle Mile Advisors LLC now owns 5,753 shares of the industrial products company’s stock worth $1,907,000 after buying an additional 892 shares during the last quarter. City Center Advisors LLC purchased a new stake in shares of Eaton during the third quarter valued at approximately $226,000. Atwood & Palmer Inc. boosted its position in Eaton by 102.4% in the third quarter. Atwood & Palmer Inc. now owns 172 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 87 shares during the last quarter. Finally, Callan Family Office LLC grew its stake in Eaton by 83.3% in the 3rd quarter. Callan Family Office LLC now owns 1,219 shares of the industrial products company’s stock valued at $404,000 after purchasing an additional 554 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ETN shares. Jefferies Financial Group lifted their target price on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Royal Bank of Canada dropped their target price on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a research note on Monday. Barclays lifted their price target on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Mizuho raised their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Melius Research reaffirmed a “hold” rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $369.20.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated 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. The trade was a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the 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 owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Eaton Stock Performance

NYSE:ETN opened at $315.21 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $346.77 and its two-hundred day moving average price is $331.28. The stock has a market cap of $124.57 billion, a P/E ratio of 33.18, a PEG ratio of 2.27 and a beta of 1.05. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm posted $2.55 earnings per share. As a group, equities analysts predict that Eaton Co. plc will post 12 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.