Northern Financial Advisors Inc Has $1.17 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Northern Financial Advisors Inc cut its position in Eaton Co. plc (NYSE:ETN) by 20.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,535 shares of the industrial products company’s stock after selling 918 shares during the period. Northern Financial Advisors Inc’s holdings in Eaton were worth $1,173,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Groupama Asset Managment boosted its position in shares of Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN lifted its stake in Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new stake in shares of Eaton in the 3rd quarter worth $33,000. Activest Wealth Management grew its stake in shares of Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 87 shares in the last quarter. Finally, DT Investment Partners LLC purchased a new stake in shares of Eaton in the third quarter valued at about $37,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ETN shares. Bank of America upped their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. UBS Group started coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Jefferies Financial Group lifted their price target on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Mizuho raised their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. cut their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $369.20.

Eaton Price Performance

Shares of NYSE ETN opened at $307.70 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The stock has a market cap of $121.60 billion, a PE ratio of 32.39, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05. The stock has a fifty day moving average of $339.72 and a 200-day moving average of $331.47.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter last year, the firm posted $2.55 earnings per share. Equities research analysts anticipate 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 company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated 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 trade 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 insiders.

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.