Eaton Co. plc (NYSE:ETN) Shares Sold by Patron Partners LLC

Patron Partners LLC lowered its position in Eaton Co. plc (NYSE:ETN) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,753 shares of the industrial products company’s stock after selling 48 shares during the period. Patron Partners LLC’s holdings in Eaton were worth $914,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Czech National Bank increased its stake in shares of Eaton by 6.4% in the 3rd quarter. Czech National Bank now owns 81,097 shares of the industrial products company’s stock valued at $26,879,000 after acquiring an additional 4,912 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Eaton by 65.1% during the 3rd quarter. GAMMA Investing LLC now owns 12,280 shares of the industrial products company’s stock worth $4,070,000 after buying an additional 4,842 shares during the period. Azzad Asset Management Inc. ADV increased its position in Eaton by 5.2% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 12,318 shares of the industrial products company’s stock worth $4,083,000 after buying an additional 614 shares during the period. Diversified Trust Co grew its holdings in shares of Eaton by 4.2% during the 3rd quarter. Diversified Trust Co now owns 12,924 shares of the industrial products company’s stock worth $4,284,000 after purchasing an additional 524 shares in the last quarter. Finally, Lakeridge Wealth Management LLC increased its stake in shares of Eaton by 28.8% in the 3rd quarter. Lakeridge Wealth Management LLC now owns 1,164 shares of the industrial products company’s stock valued at $386,000 after purchasing an additional 260 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ETN has been the topic of a number of research reports. Royal Bank of Canada lowered their target price on Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a research report on Monday. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and increased their price objective for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. UBS Group started coverage on Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. Finally, Wells Fargo & Company decreased their price objective on Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research note on Monday. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $369.20.

Insider Activity at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the sale, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,981 shares of company stock valued at $26,318,917. 0.53% of the stock is owned by company insiders.

Eaton Stock Performance

NYSE ETN opened at $315.74 on Tuesday. The firm has a market cap of $124.78 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 2.27 and a beta of 1.06. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. The company has a 50-day simple moving average of $349.23 and a two-hundred day simple moving average of $331.21. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company posted $2.55 earnings per share. On average, equities analysts forecast that Eaton Co. plc will post 12 EPS for the current 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.