Atlantic Edge Private Wealth Management LLC Reduces Stock Position in Eaton Co. plc (NYSE:ETN)

Atlantic Edge Private Wealth Management LLC lessened its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,021 shares of the industrial products company’s stock after selling 55 shares during the quarter. Atlantic Edge Private Wealth Management LLC’s holdings in Eaton were worth $671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Horizon Bancorp Inc. IN boosted its stake in shares of 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 acquiring an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new position in shares of Eaton during the 3rd quarter worth $33,000. Activest Wealth Management raised its position in shares of Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 87 shares during the period. DT Investment Partners LLC bought a new stake in shares of Eaton during the 3rd quarter valued at $37,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Eaton during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 2.2 %

Shares of Eaton stock opened at $319.97 on Tuesday. The stock has a market cap of $126.45 billion, a PE ratio of 33.68, a price-to-earnings-growth ratio of 2.37 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. The firm has a fifty day moving average price of $343.25 and a 200 day moving average price of $331.29. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating 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 period last year, the business earned $2.55 EPS. Equities research analysts predict that Eaton Co. plc will post 12.04 earnings per share for the current year.

Insiders Place Their Bets

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares in the company, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ETN shares. Bank of America raised their price objective 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. JPMorgan Chase & Co. decreased their price target 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. Sanford C. Bernstein began coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. 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 research note on Friday, December 6th. Finally, Mizuho boosted their price target 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. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $369.20.

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.