Coastal Investment Advisors Inc. cut its stake in Eaton Co. plc (NYSE:ETN) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,216 shares of the industrial products company’s stock after selling 125 shares during the period. Coastal Investment Advisors Inc.’s holdings in Eaton were worth $507,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Global Retirement Partners LLC boosted its stake in shares of Eaton by 41.3% during the fourth quarter. Global Retirement Partners LLC now owns 3,366 shares of the industrial products company’s stock valued at $404,000 after purchasing an additional 984 shares during the period. Sowell Financial Services LLC boosted its stake in shares of Eaton by 19.3% during the fourth quarter. Sowell Financial Services LLC now owns 5,377 shares of the industrial products company’s stock valued at $646,000 after purchasing an additional 869 shares during the period. Global Trust Asset Management LLC purchased a new stake in shares of Eaton during the fourth quarter valued at $277,000. First Citizens Bank & Trust Co. boosted its stake in shares of Eaton by 0.4% during the fourth quarter. First Citizens Bank & Trust Co. now owns 49,358 shares of the industrial products company’s stock valued at $5,930,000 after purchasing an additional 180 shares during the period. Finally, Abner Herrman & Brock LLC purchased a new stake in shares of Eaton during the fourth quarter valued at $243,000. 67.52% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently weighed in on ETN. Citigroup lifted their price objective on Eaton from $106.00 to $122.00 and gave the company a “buy” rating in a report on Friday, October 16th. Wells Fargo & Company lifted their price objective on Eaton from $110.00 to $130.00 in a report on Friday, October 9th. Credit Suisse Group boosted their target price on shares of Eaton from $110.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, November 4th. BidaskClub upgraded shares of Eaton from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 7th. Finally, Argus boosted their target price on shares of Eaton from $120.00 to $130.00 in a report on Thursday, December 10th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $110.38.

In related news, insider Craig Arnold sold 171,163 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $116.96, for a total value of $20,019,224.48. Following the sale, the insider now owns 391,525 shares in the company, valued at $45,792,764. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nandakumar Cheruvatath sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 24th. The shares were sold at an average price of $122.95, for a total value of $368,850.00. Following the completion of the sale, the insider now owns 14,843 shares in the company, valued at approximately $1,824,946.85. The disclosure for this sale can be found here. Insiders have sold 175,663 shares of company stock worth $20,567,444 in the last 90 days. Insiders own 0.54% of the company’s stock.

Shares of ETN stock opened at $125.41 on Thursday. Eaton Co. plc has a fifty-two week low of $56.42 and a fifty-two week high of $130.00. The firm has a market capitalization of $49.99 billion, a price-to-earnings ratio of 36.89, a PEG ratio of 2.55 and a beta of 1.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.13 and a current ratio of 1.49. The stock’s 50-day simple moving average is $119.82 and its 200-day simple moving average is $106.07.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Sunday, November 8th. The industrial products company reported $1.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.13. Eaton had a return on equity of 11.94% and a net margin of 7.53%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The company’s revenue was down 14.8% on a year-over-year basis. As a group, equities analysts forecast that Eaton Co. plc will post 4.17 earnings per share for the current year.

Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, wiring devices, and structural support systems; and residential, single phase power quality, emergency lighting and fire detection, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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