Northstar Asset Management Inc. Lowers Stock Holdings in Eaton Co. plc (NYSE:ETN)

Northstar Asset Management Inc. trimmed its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,776 shares of the industrial products company's stock after selling 1,567 shares during the period. Eaton comprises about 3.1% of Northstar Asset Management Inc.'s holdings, making the stock its 14th largest position. Northstar Asset Management Inc.'s holdings in Eaton were worth $11,873,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Groupama Asset Managment lifted its position in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN increased its holdings in Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock worth $32,000 after purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc purchased a new stake in shares of Eaton in the third quarter worth approximately $33,000. Activest Wealth Management lifted its holdings in shares of Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 87 shares in the last quarter. Finally, DT Investment Partners LLC purchased a new position in shares of Eaton during the third quarter valued at approximately $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on ETN. Mizuho upped their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Melius lowered Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price for the company. in a report on Tuesday, January 28th. JPMorgan Chase & Co. dropped their price target on Eaton from $350.00 to $348.00 and set an "overweight" rating on the stock in a report on Wednesday, January 15th. Jefferies Financial Group upped their price objective on Eaton from $400.00 to $440.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Finally, UBS Group initiated coverage on Eaton in a research note on Wednesday, November 13th. They set a "buy" rating and a $431.00 target price on the stock. Seven 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $366.05.

Eaton Stock Performance

ETN traded down $11.71 on Friday, hitting $297.11. The company's stock had a trading volume of 4,399,446 shares, compared to its average volume of 3,361,916. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The firm has a market cap of $117.42 billion, a P/E ratio of 31.27, a price-to-earnings-growth ratio of 2.65 and a beta of 1.05. 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's 50 day simple moving average is $331.97 and its 200-day simple moving average is $332.05.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts' consensus estimates 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 last year, the company earned $2.55 earnings per share. Analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Insider Buying and Selling 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 sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now owns 31,200 shares of the company's stock, valued at approximately $11,811,696. The trade was 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.

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.