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

Goldstein Advisors LLC decreased its stake in Eaton Co. plc (NYSE:ETN) by 7.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 676 shares of the industrial products company’s stock after selling 54 shares during the quarter. Goldstein Advisors LLC’s holdings in Eaton were worth $224,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Groupama Asset Managment boosted its position in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN boosted its position in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc acquired a new position in shares of Eaton in the 3rd quarter valued at $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton in the 3rd quarter valued at $35,000. Finally, DT Investment Partners LLC acquired a new position in shares of Eaton in the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of NYSE ETN opened at $371.36 on Thursday. 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 firm has a market cap 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. The business’s 50-day simple moving average is $353.61 and its 200-day simple moving average is $330.74. Eaton Co. plc has a 52 week low of $239.17 and a 52 week high of $379.99.

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

Insider Buying and Selling at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s 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 completion of the transaction, the insider now owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of Eaton 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 completion of the transaction, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. The trade was a 18.80 % 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 90 days. 0.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Bank of America increased their price objective on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Barclays increased their price objective on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Sanford C. Bernstein assumed coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Finally, Royal Bank of Canada increased their price objective on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $368.89.

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.