Silver Lake Advisory LLC Trims Stock Position in Eaton Co. plc (NYSE:ETN)

Silver Lake Advisory LLC decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 20.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,089 shares of the industrial products company’s stock after selling 1,775 shares during the quarter. Silver Lake Advisory LLC’s holdings in Eaton were worth $2,353,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the company. Horizon Bancorp Inc. IN increased its stake in Eaton by 321.7% in the fourth 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 purchased a new position in shares of Eaton during the third quarter worth about $33,000. West Financial Advisors LLC acquired a new position in Eaton in the 3rd quarter valued at about $35,000. DT Investment Partners LLC purchased a new stake in Eaton during the 3rd quarter valued at approximately $37,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Eaton during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 10.84 % 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 10,000 shares of Eaton stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the sale, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock valued at $27,660,117 over the last three months. 0.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ETN shares. Mizuho boosted their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Royal Bank of Canada boosted their price objective 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. Jefferies Financial Group lifted their target price on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and increased their price target for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Finally, Bank of America lifted their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $368.89.

Eaton Price Performance

Eaton stock opened at $369.58 on Friday. 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’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 $241.45 and a 52 week high of $379.99. The firm has a market capitalization of $146.06 billion, a PE ratio of 39.32, a P/E/G ratio of 2.57 and a beta of 1.06.

Eaton (NYSE:ETN) last released its quarterly 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 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 prior year, the business earned $2.47 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities research analysts predict that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Company 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.