Navellier & Associates Inc. Reduces Holdings in Eaton Co. plc (NYSE:ETN)

Navellier & Associates Inc. lowered its position in Eaton Co. plc (NYSE:ETN) by 1.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 21,639 shares of the industrial products company’s stock after selling 386 shares during the period. Eaton accounts for approximately 0.9% of Navellier & Associates Inc.’s portfolio, making the stock its 24th biggest holding. Navellier & Associates Inc.’s holdings in Eaton were worth $7,181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Boyd Watterson Asset Management LLC OH boosted its position in Eaton by 1.3% during the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 23,779 shares of the industrial products company’s stock worth $7,892,000 after acquiring an additional 313 shares during the last quarter. Greystone Financial Group LLC lifted its stake in Eaton by 28.5% in the 4th quarter. Greystone Financial Group LLC now owns 2,119 shares of the industrial products company’s stock worth $703,000 after purchasing an additional 470 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its holdings in shares of Eaton by 26.3% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 28,887 shares of the industrial products company’s stock worth $9,587,000 after purchasing an additional 6,022 shares during the last quarter. Physicians Financial Services Inc. boosted its holdings in shares of Eaton by 1.5% during the 4th quarter. Physicians Financial Services Inc. now owns 7,471 shares of the industrial products company’s stock worth $2,479,000 after purchasing an additional 107 shares during the last quarter. Finally, Summerhill Capital Management lnc. grew its position in shares of Eaton by 2.5% in the fourth quarter. Summerhill Capital Management lnc. now owns 13,865 shares of the industrial products company’s stock valued at $4,601,000 after purchasing an additional 342 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

NYSE:ETN opened at $297.11 on Friday. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company has a fifty day simple moving average of $331.97 and a two-hundred day simple moving average of $332.05. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The company has a market cap of $117.42 billion, a price-to-earnings ratio of 31.27, a price-to-earnings-growth ratio of 2.65 and a beta of 1.05.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate 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 in the previous year, the business posted $2.55 earnings per share. As a group, equities analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Insider Activity at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ETN. Barclays boosted 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. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research report on Tuesday, January 28th. Wells Fargo & Company cut their price objective on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Citigroup decreased their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, UBS Group started coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average target price of $366.05.

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.