Park Edge Advisors LLC Sells 1,619 Shares of Eaton Co. plc (NYSE:ETN)

Park Edge Advisors LLC lessened its position in Eaton Co. plc (NYSE:ETN) by 40.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,359 shares of the industrial products company’s stock after selling 1,619 shares during the quarter. Park Edge Advisors LLC’s holdings in Eaton were worth $783,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Horizon Bancorp Inc. IN boosted its position in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares during the period. Morse Asset Management Inc bought a new stake in shares of Eaton during the 3rd quarter worth approximately $33,000. West Financial Advisors LLC purchased a new position in Eaton during the 3rd quarter valued at $35,000. DT Investment Partners LLC bought a new position in Eaton in the 3rd quarter valued at $37,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in Eaton in the third quarter worth $44,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Down 0.3 %

NYSE:ETN opened at $368.63 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The stock has a market capitalization of $145.68 billion, a P/E ratio of 39.22, a P/E/G ratio of 2.57 and a beta of 1.06. The company’s 50-day simple moving average is $353.96 and its 200-day simple moving average is $331.35. Eaton Co. plc has a fifty-two week low of $241.87 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the company earned $2.47 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ETN. UBS Group started coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Royal Bank of Canada lifted their price target on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and increased their price objective for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company decreased their target price on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $368.89.

Insider Activity at Eaton

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock valued at $27,660,117 in the last ninety days. Corporate insiders own 0.53% of the company’s stock.

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.