Eaton Co. plc (NYSE:ETN) Shares Sold by Stratos Investment Management LLC

Stratos Investment Management LLC cut its stake in Eaton Co. plc (NYSE:ETN) by 31.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,509 shares of the industrial products company’s stock after selling 1,153 shares during the period. Stratos Investment Management LLC’s holdings in Eaton were worth $833,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment grew its stake in Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN lifted its holdings in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc bought a new stake in Eaton in the third quarter valued at $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton during the third quarter valued at $35,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Eaton in the 3rd quarter worth about $37,000. 82.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Eaton news, 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 completion of the transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ETN. Wells Fargo & Company cut their price target on Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a report on Monday. Royal Bank of Canada decreased their price target on Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research note on Monday. Melius Research restated a “hold” rating and set a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Citigroup lowered their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Barclays increased their price objective on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $369.20.

Eaton Price Performance

ETN opened at $315.21 on Wednesday. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $124.57 billion, a P/E ratio of 33.18, a PEG ratio of 2.27 and a beta of 1.05. The stock has a fifty day moving average of $348.01 and a 200-day moving average of $331.26.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating 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 quarter in the previous year, the firm posted $2.55 EPS. Equities analysts forecast that Eaton Co. plc will post 12 EPS for the current fiscal 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.