Naples Global Advisors LLC Sells 140 Shares of Eaton Co. plc (NYSE:ETN)

Naples Global Advisors LLC lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 5.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,432 shares of the industrial products company’s stock after selling 140 shares during the period. Naples Global Advisors LLC’s holdings in Eaton were worth $807,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of Eaton by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after acquiring an additional 56,516 shares during the period. Franklin Resources Inc. lifted its holdings in Eaton by 15.1% during the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after purchasing an additional 316,830 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after purchasing an additional 597,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Eaton by 253.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after purchasing an additional 1,629,856 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Eaton by 1.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,436,051 shares of the industrial products company’s stock worth $476,582,000 after purchasing an additional 13,862 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 0.7 %

Shares of NYSE:ETN opened at $307.70 on Friday. The company has a market cap of $121.60 billion, a price-to-earnings ratio of 32.39, a PEG 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. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $339.72 and a 200 day moving average price of $331.47.

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

Insider Buying and Selling

In other Eaton 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 transaction of $534,554.96. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the stock in a transaction on 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 owns 43,203 shares of the company’s stock, valued at approximately $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 corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ETN. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and upped their target price for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Royal Bank of Canada dropped their price objective on Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Jefferies Financial Group lifted their target price on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research note on Tuesday, January 28th. Finally, Barclays lifted their price objective on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average price target 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.