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

Naples Global Advisors LLC cut its stake in shares of Eaton Co. plc (NYSE:ETN) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,432 shares of the industrial products company’s stock after selling 140 shares during the quarter. Naples Global Advisors LLC’s holdings in Eaton were worth $807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in ETN. Geode Capital Management LLC raised its position in Eaton by 0.7% during the third 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 purchasing an additional 56,516 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Eaton by 15.1% during the 3rd 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 during the last quarter. Janus Henderson Group PLC increased its position in shares of Eaton by 32.8% during the 3rd 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Eaton by 253.2% during the 3rd 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 valued at $753,590,000 after buying an additional 1,629,856 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Eaton by 1.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,436,051 shares of the industrial products company’s stock worth $476,582,000 after buying an additional 13,862 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Trading Down 0.7 %

Shares of NYSE:ETN opened at $307.70 on Friday. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The stock’s fifty day moving average price is $339.72 and its 200-day moving average price is $331.47. The company has a market cap of $121.60 billion, a P/E ratio of 32.39, a PEG ratio of 2.37 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating 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 in the prior year, the firm posted $2.55 EPS. Sell-side analysts expect that Eaton Co. plc will post 12.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Sanford C. Bernstein initiated coverage on shares of Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. Jefferies Financial Group upped their price objective on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. UBS Group initiated coverage on Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Melius lowered shares of 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 upped their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $369.20.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the transaction, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 shares were 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 trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

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.