Eaton Co. plc (NYSE:ETN) Shares Sold by Navellier & Associates Inc.

Navellier & Associates Inc. cut its stake in Eaton Co. plc (NYSE:ETN) by 1.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 21,639 shares of the industrial products company’s stock after selling 386 shares during the quarter. Eaton comprises about 0.9% of Navellier & Associates Inc.’s portfolio, making the stock its 24th largest holding. Navellier & Associates Inc.’s holdings in Eaton were worth $7,181,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ETN. Geode Capital Management LLC boosted its position in shares of Eaton by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after purchasing an additional 56,516 shares during the period. Franklin Resources Inc. lifted its stake in Eaton by 15.1% in the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after buying an additional 316,830 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after acquiring an additional 597,700 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Eaton by 253.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after acquiring an additional 1,629,856 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Eaton by 1.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,436,051 shares of the industrial products company’s stock valued at $476,582,000 after purchasing an additional 13,862 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Trading Down 3.8 %

Shares of ETN opened at $297.11 on Friday. The firm’s 50-day moving average is $331.97 and its two-hundred day moving average is $332.05. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $117.42 billion, a P/E ratio of 31.27, a PEG ratio of 2.65 and a beta of 1.05.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating 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 period in the prior year, the company posted $2.55 earnings per share. On average, research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Jefferies Financial Group raised their price objective on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Evercore ISI lowered their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday. Bank of America upped their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Mizuho lifted their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Barclays upped their price target on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $366.05.

Insider Buying and Selling

In other Eaton news, 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 transaction of $3,559,800.00. Following the completion of the transaction, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares in the company, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

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.