Park Edge Advisors LLC Lowers Position in Eaton Co. plc (NYSE:ETN)

Park Edge Advisors LLC lowered its position in Eaton Co. plc (NYSE:ETN) by 40.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,359 shares of the industrial products company’s stock after selling 1,619 shares during the period. Park Edge Advisors LLC’s holdings in Eaton were worth $783,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ETN. Strategic Wealth Partners Ltd. boosted its holdings in shares of Eaton by 3.0% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after buying an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD increased its stake in shares of Eaton by 16.2% during the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 30 shares in the last quarter. Westmount Partners LLC lifted its holdings in shares of Eaton by 3.1% during the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 30 shares during the last quarter. Signal Advisors Wealth LLC grew its stake in shares of Eaton by 3.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after buying an additional 30 shares during the last quarter. Finally, Lantz Financial LLC boosted its holdings in Eaton by 4.8% in the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

ETN has been the topic of several analyst reports. Barclays upped their target price on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Wells Fargo & Company reduced their price target on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Bank of America boosted their target price on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Citigroup decreased their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Mizuho upped their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average price target of $368.89.

Insider Activity

In other news, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were 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 in the company, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock worth $27,660,117 over the last 90 days. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Down 0.3 %

NYSE ETN opened at $368.63 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12 month low of $241.87 and a 12 month high of $379.99. The stock’s 50 day moving average is $353.96 and its 200 day moving average is $331.35. The stock has a market cap of $145.68 billion, a PE ratio of 39.22, a P/E/G ratio of 2.57 and a beta of 1.06.

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

Eaton Company 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.