Atlantic Edge Private Wealth Management LLC Trims Holdings in Eaton Co. plc (NYSE:ETN)

Atlantic Edge Private Wealth Management LLC decreased its holdings in Eaton Co. plc (NYSE:ETN) by 2.6% in the 4th quarter, Holdings Channel reports. The firm owned 2,021 shares of the industrial products company’s stock after selling 55 shares during the period. Atlantic Edge Private Wealth Management LLC’s holdings in Eaton were worth $671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of ETN. Peterson Wealth Services raised its position in Eaton by 2.7% during the 4th quarter. Peterson Wealth Services now owns 8,624 shares of the industrial products company’s stock worth $2,862,000 after buying an additional 230 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in Eaton during the 4th quarter worth $65,000. Essex Financial Services Inc. raised its position in Eaton by 55.2% during the 4th quarter. Essex Financial Services Inc. now owns 8,464 shares of the industrial products company’s stock worth $2,809,000 after buying an additional 3,012 shares during the last quarter. Mill Creek Capital Advisors LLC purchased a new position in Eaton during the 4th quarter worth $396,000. Finally, Summit Trail Advisors LLC raised its position in Eaton by 24.5% during the 4th quarter. Summit Trail Advisors LLC now owns 6,321 shares of the industrial products company’s stock worth $2,098,000 after buying an additional 1,242 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred 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 sale, the insider now owns 31,200 shares in the company, valued at $11,811,696. This trade 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 10,000 shares of Eaton stock in a transaction that occurred 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 owns 43,203 shares in the company, valued at $15,379,403.94. This represents 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 insiders.

Eaton Trading Up 2.2 %

NYSE ETN opened at $319.97 on Tuesday. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The company’s 50 day moving average price is $343.25 and its 200 day moving average price is $331.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a market capitalization of $126.45 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 2.37 and a beta of 1.05.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period last year, the business earned $2.55 EPS. On average, sell-side analysts predict that Eaton Co. plc will post 12.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Mizuho increased their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. cut their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Citigroup cut their price target 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. Jefferies Financial Group increased their price target on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada lowered their price objective on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $369.20.

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.