Castle Wealth Management LLC Has $971,000 Holdings in Eaton Co. plc (NYSE:ETN)

Castle Wealth Management LLC lessened its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,925 shares of the industrial products company’s stock after selling 65 shares during the quarter. Castle Wealth Management LLC’s holdings in Eaton were worth $971,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Creative Planning increased its holdings in Eaton by 2.7% during the 3rd quarter. Creative Planning now owns 181,067 shares of the industrial products company’s stock worth $60,013,000 after purchasing an additional 4,705 shares in the last quarter. Bill Few Associates Inc. increased its holdings in Eaton by 2.7% during the 3rd quarter. Bill Few Associates Inc. now owns 8,510 shares of the industrial products company’s stock worth $2,820,000 after purchasing an additional 222 shares in the last quarter. Proquility Private Wealth Partners LLC increased its holdings in Eaton by 9.3% during the 3rd quarter. Proquility Private Wealth Partners LLC now owns 8,260 shares of the industrial products company’s stock worth $2,738,000 after purchasing an additional 702 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in Eaton by 1.4% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 5,657 shares of the industrial products company’s stock worth $1,875,000 after purchasing an additional 78 shares in the last quarter. Finally, Sumitomo Life Insurance Co. increased its holdings in Eaton by 1.6% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 12,968 shares of the industrial products company’s stock worth $4,298,000 after purchasing an additional 209 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Down 2.1 %

Shares of ETN stock opened at $309.93 on Thursday. The firm has a 50 day moving average price of $341.07 and a two-hundred day moving average price of $331.62. 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 capitalization of $122.48 billion, a PE ratio of 32.62, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the firm earned $2.55 earnings per share. As a group, analysts predict that Eaton Co. plc will post 12.04 earnings per share for the current year.

Insider Activity

In related news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the sale, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the sale, 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 disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Mizuho increased their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Citigroup lowered their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. decreased their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Barclays raised their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Melius Research restated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $369.20.

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.