Carl P. Sherr & Co. LLC Sells 64 Shares of Eaton Co. plc (NYSE:ETN)

Carl P. Sherr & Co. LLC lowered its position in Eaton Co. plc (NYSE:ETN) by 2.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,587 shares of the industrial products company’s stock after selling 64 shares during the period. Carl P. Sherr & Co. LLC’s holdings in Eaton were worth $858,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ETN. Groupama Asset Managment lifted its position in Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares during the period. Horizon Bancorp Inc. IN increased its stake 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 acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc purchased a new position in Eaton during the 3rd quarter valued at about $33,000. Activest Wealth Management boosted its stake in Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 87 shares in the last quarter. Finally, DT Investment Partners LLC purchased a new stake in Eaton in the third quarter worth about $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ETN. Citigroup lowered their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Evercore ISI lowered their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday. Sanford C. Bernstein initiated coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research report on Tuesday, January 28th. Finally, UBS Group started coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. 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, Eaton has an average rating of “Moderate Buy” and an average price target of $366.05.

Eaton Stock Down 3.8 %

ETN opened at $297.11 on Friday. The firm’s 50 day simple moving average is $331.97 and its two-hundred day simple moving average is $332.05. The company has a market capitalization of $117.42 billion, a PE ratio of 31.27, a PEG ratio of 2.65 and a beta of 1.05. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

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 prior year, the firm earned $2.55 EPS. As a group, equities analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction 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 transaction, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The transaction 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 stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, 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 disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

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.