Goldstein Advisors LLC Has $224,000 Holdings in Eaton Co. plc (NYSE:ETN)

Goldstein Advisors LLC trimmed its holdings in Eaton Co. plc (NYSE:ETN) by 7.4% in the fourth quarter, Holdings Channel reports. The fund owned 676 shares of the industrial products company’s stock after selling 54 shares during the period. Goldstein Advisors LLC’s holdings in Eaton were worth $224,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ETN. Thrivent Financial for Lutherans lifted its holdings in shares of Eaton by 110.2% in the second quarter. Thrivent Financial for Lutherans now owns 57,820 shares of the industrial products company’s stock valued at $18,129,000 after purchasing an additional 30,319 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Eaton by 60.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 76,594 shares of the industrial products company’s stock valued at $24,016,000 after purchasing an additional 28,760 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Eaton in the second quarter valued at about $13,290,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Eaton in the second quarter valued at about $338,000. Finally, Unisphere Establishment bought a new stake in shares of Eaton in the second quarter valued at about $6,271,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ETN has been the topic of a number of research reports. Barclays boosted their price target on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Royal Bank of Canada upped their target price on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Wells Fargo & Company dropped their target price on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, Bank of America upped their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $368.89.

Insider Activity

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the sale, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is owned by insiders.

Eaton Price Performance

NYSE:ETN opened at $371.36 on Thursday. Eaton Co. plc has a 12-month low of $239.17 and a 12-month high of $379.99. The stock’s 50 day moving average price is $353.61 and its two-hundred day moving average price is $330.74. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $146.76 billion, a price-to-earnings ratio of 39.51, a P/E/G ratio of 2.48 and a beta of 1.06.

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

About Eaton

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.