Stratos Investment Management LLC Cuts Stake in Eaton Co. plc (NYSE:ETN)

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

Several other large investors also recently bought and sold shares of the company. Czech National Bank grew its holdings in shares of Eaton by 6.4% during the third quarter. Czech National Bank now owns 81,097 shares of the industrial products company’s stock worth $26,879,000 after buying an additional 4,912 shares in the last quarter. Miracle Mile Advisors LLC grew its holdings in shares of Eaton by 18.4% during the 3rd quarter. Miracle Mile Advisors LLC now owns 5,753 shares of the industrial products company’s stock worth $1,907,000 after purchasing an additional 892 shares during the period. City Center Advisors LLC acquired a new stake in shares of Eaton during the 3rd quarter worth about $226,000. Atwood & Palmer Inc. raised its holdings in Eaton by 102.4% in the 3rd quarter. Atwood & Palmer Inc. now owns 172 shares of the industrial products company’s stock valued at $57,000 after buying an additional 87 shares during the period. Finally, Callan Family Office LLC lifted its position in Eaton by 83.3% in the third quarter. Callan Family Office LLC now owns 1,219 shares of the industrial products company’s stock valued at $404,000 after buying an additional 554 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s 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 completion of the transaction, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Eaton Stock Down 0.1 %

ETN opened at $315.21 on Wednesday. The business has a 50 day moving average price of $348.01 and a two-hundred day moving average price of $331.26. Eaton Co. plc has a 52 week low of $255.65 and a 52 week 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 company has a market cap of $124.57 billion, a PE ratio of 33.18, a P/E/G ratio of 2.27 and a beta of 1.05.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business earned $2.55 EPS. As a group, research analysts anticipate that Eaton Co. plc will post 12 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ETN. Wells Fargo & Company dropped their price objective on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research note on Monday. Royal Bank of Canada dropped their price objective on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a report on Monday. Jefferies Financial Group increased their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Barclays boosted their price target on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. reduced their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $369.20.

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.