Mcdonald Partners LLC Has $12.92 Million Stake in Eaton Co. plc (NYSE:ETN)

Mcdonald Partners LLC cut its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 4.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,930 shares of the industrial products company's stock after selling 1,667 shares during the quarter. Eaton accounts for 3.3% of Mcdonald Partners LLC's holdings, making the stock its 3rd largest position. Mcdonald Partners LLC's holdings in Eaton were worth $12,920,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Resonant Capital Advisors LLC boosted its position in shares of Eaton by 2.3% during the 3rd quarter. Resonant Capital Advisors LLC now owns 1,914 shares of the industrial products company's stock worth $634,000 after acquiring an additional 43 shares in the last quarter. Cyndeo Wealth Partners LLC acquired a new stake in Eaton in the third quarter valued at approximately $417,000. Allspring Global Investments Holdings LLC boosted its position in Eaton by 19.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 157,615 shares of the industrial products company's stock valued at $52,240,000 after buying an additional 25,843 shares in the last quarter. Godsey & Gibb Inc. boosted its position in Eaton by 2.3% in the third quarter. Godsey & Gibb Inc. now owns 79,066 shares of the industrial products company's stock valued at $26,206,000 after buying an additional 1,793 shares in the last quarter. Finally, 1858 Wealth Management LLC boosted its position in Eaton by 65.4% in the third quarter. 1858 Wealth Management LLC now owns 2,018 shares of the industrial products company's stock valued at $669,000 after buying an additional 798 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on ETN. Mizuho raised their target price on shares of Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Evercore ISI cut their target price on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a research report on Wednesday. Jefferies Financial Group raised their target price on shares of Eaton from $400.00 to $440.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Royal Bank of Canada cut their price target on shares of Eaton from $407.00 to $405.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Finally, Citigroup cut their price target 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. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Eaton has a consensus rating of "Moderate Buy" and a consensus target price of $366.05.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on 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 directly owns 43,203 shares of the company's stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the insider now directly owns 31,200 shares of the company's stock, 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. 0.53% of the stock is currently owned by insiders.

Eaton Stock Down 3.8 %

Shares of ETN traded down $11.71 on Friday, reaching $297.11. The company's stock had a trading volume of 4,399,446 shares, compared to its average volume of 3,361,916. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The stock has a market capitalization of $117.42 billion, a PE ratio of 31.27, a PEG ratio of 2.65 and a beta of 1.05. The firm has a fifty day moving average of $331.97 and a 200-day moving average of $332.05.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period last year, the firm posted $2.55 EPS. Equities analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

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.