Eaton Co. plc (NYSE:ETN) Shares Sold by Patton Fund Management Inc.

Patton Fund Management Inc. lowered its position in Eaton Co. plc (NYSE:ETN) by 13.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,882 shares of the industrial products company’s stock after selling 1,624 shares during the period. Patton Fund Management Inc.’s holdings in Eaton were worth $3,611,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Eaton during the fourth quarter worth $1,019,000. Gateway Wealth Partners LLC boosted its position in shares of Eaton by 30.2% in the 4th quarter. Gateway Wealth Partners LLC now owns 1,083 shares of the industrial products company’s stock worth $359,000 after buying an additional 251 shares in the last quarter. SteelPeak Wealth LLC grew its stake in Eaton by 48.2% in the 4th quarter. SteelPeak Wealth LLC now owns 5,503 shares of the industrial products company’s stock valued at $1,826,000 after acquiring an additional 1,789 shares during the last quarter. Mayflower Financial Advisors LLC increased its holdings in Eaton by 1.6% during the 4th quarter. Mayflower Financial Advisors LLC now owns 3,167 shares of the industrial products company’s stock valued at $1,051,000 after acquiring an additional 49 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its position in Eaton by 147.2% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 3,523 shares of the industrial products company’s stock worth $1,169,000 after acquiring an additional 2,098 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’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 transaction, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction 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 trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock valued at $27,660,117 over the last quarter. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. UBS Group began coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target for the company. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and upped their price objective for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Mizuho lifted their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Citigroup reduced 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. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $369.30.

Eaton Stock Up 0.2 %

ETN opened at $312.26 on Wednesday. The company has a market cap of $123.41 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a 1 year low of $244.35 and a 1 year high of $379.99. The firm has a 50 day moving average price of $351.98 and a 200 day moving average price of $331.21.

Eaton (NYSE:ETN) last issued its earnings results 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. 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 the consensus estimate of $6.37 billion. During the same quarter last year, the firm posted $2.47 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Sell-side analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton 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.