Northstar Asset Management Inc. Decreases Position in Eaton Co. plc (NYSE:ETN)

Northstar Asset Management Inc. reduced its stake in shares of Eaton Co. plc (NYSE:ETN) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,776 shares of the industrial products company’s stock after selling 1,567 shares during the quarter. Eaton accounts for approximately 3.1% of Northstar Asset Management Inc.’s holdings, making the stock its 14th largest holding. Northstar Asset Management Inc.’s holdings in Eaton were worth $11,873,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETN. Resonant Capital Advisors LLC boosted its stake in shares of Eaton by 2.3% in the third quarter. Resonant Capital Advisors LLC now owns 1,914 shares of the industrial products company’s stock valued at $634,000 after purchasing an additional 43 shares during the period. Cyndeo Wealth Partners LLC purchased a new position in Eaton in the 3rd quarter valued at about $417,000. Allspring Global Investments Holdings LLC grew its stake in shares of Eaton by 19.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 157,615 shares of the industrial products company’s stock valued at $52,240,000 after acquiring an additional 25,843 shares in the last quarter. Godsey & Gibb Inc. increased its position in shares of Eaton by 2.3% during the third quarter. Godsey & Gibb Inc. now owns 79,066 shares of the industrial products company’s stock worth $26,206,000 after acquiring an additional 1,793 shares during the last quarter. Finally, 1858 Wealth Management LLC lifted its stake in shares of Eaton by 65.4% in the third quarter. 1858 Wealth Management LLC now owns 2,018 shares of the industrial products company’s stock worth $669,000 after acquiring an additional 798 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated 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 directly owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $534,554.96. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on ETN shares. Melius Research restated a “hold” rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. 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 research note on Thursday, December 5th. Royal Bank of Canada reduced their price objective on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. UBS Group assumed coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Finally, Jefferies Financial Group upped their target price on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $369.20.

Eaton Stock Performance

ETN stock opened at $309.21 on Tuesday. The stock’s fifty day moving average is $337.21 and its two-hundred day moving average is $331.89. The stock has a market capitalization of $122.20 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 2.37 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99.

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