Amalgamated Bank Sells 4,750 Shares of Eaton Co. plc (NYSE:ETN)

Amalgamated Bank decreased its position in Eaton Co. plc (NYSE:ETN) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 80,709 shares of the industrial products company’s stock after selling 4,750 shares during the period. Amalgamated Bank’s holdings in Eaton were worth $26,785,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. boosted its position in Eaton by 48.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after purchasing an additional 13,497 shares during the last quarter. Lighthouse Wealth Management Inc. bought a new position in Eaton during the fourth quarter valued at about $297,000. Webster Bank N. A. increased its holdings in Eaton by 52.4% during the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock worth $5,949,000 after buying an additional 6,166 shares during the last quarter. Ballentine Partners LLC raised its position in Eaton by 9.3% in the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after acquiring an additional 790 shares during the period. Finally, Blue Trust Inc. boosted its stake in Eaton by 13.2% in the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock valued at $4,804,000 after acquiring an additional 1,694 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ETN. JPMorgan Chase & Co. decreased their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. UBS Group assumed coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Wells Fargo & Company reiterated an “equal weight” rating on shares of Eaton in a research note on Thursday, February 13th. Melius Research restated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Finally, 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 target price for the company. Seven investment 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, Eaton has an average rating of “Moderate Buy” and a consensus price target of $366.05.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction 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 directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is owned by insiders.

Eaton Trading Down 2.6 %

ETN opened at $289.68 on Tuesday. The firm has a market capitalization of $114.48 billion, a price-to-earnings ratio of 30.49, a PEG ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The business has a 50 day simple moving average of $330.66 and a two-hundred day simple moving average of $332.83. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

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, topping the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the company posted $2.55 earnings per share. Analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

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.