Eaton Co. plc (NYSE:ETN) Stock Holdings Trimmed by American Institute for Advanced Investment Management LLP

American Institute for Advanced Investment Management LLP decreased its position in Eaton Co. plc (NYSE:ETN) by 17.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,110 shares of the industrial products company’s stock after selling 242 shares during the quarter. American Institute for Advanced Investment Management LLP’s holdings in Eaton were worth $368,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Ascent Group LLC increased its stake in Eaton by 7.2% during the second quarter. Ascent Group LLC now owns 792 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 53 shares during the last quarter. Quarry LP acquired a new position in shares of Eaton in the 2nd quarter valued at about $84,000. Dana Investment Advisors Inc. grew its position in shares of Eaton by 1.4% during the 2nd quarter. Dana Investment Advisors Inc. now owns 23,461 shares of the industrial products company’s stock valued at $7,356,000 after buying an additional 334 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in Eaton during the second quarter worth about $182,000. Finally, Sanctuary Advisors LLC bought a new position in Eaton in the second quarter worth about $27,653,000. 82.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, 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 value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares in the company, valued at $17,241,796.60. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock valued at $27,660,117 over the last three months. 0.53% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ETN. Jefferies Financial Group increased their price target on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Royal Bank of Canada increased their target price on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and boosted their price target for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Melius Research reaffirmed a “hold” rating and issued a $373.00 price objective on shares of Eaton in a report on Tuesday. Finally, Sanford C. Bernstein assumed coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $369.30.

Eaton Stock Up 1.7 %

ETN stock opened at $317.90 on Thursday. The firm has a market cap of $125.63 billion, a PE ratio of 33.82, a P/E/G ratio of 2.57 and a beta of 1.06. Eaton Co. plc has a 12 month low of $245.65 and a 12 month high of $379.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The firm has a 50 day simple moving average of $351.98 and a 200 day simple moving average of $331.21.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period last year, the company posted $2.47 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current fiscal 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.