Cottonwood Capital Advisors LLC Sells 191 Shares of Eaton Co. plc (NYSE:ETN)

Cottonwood Capital Advisors LLC trimmed its stake in shares of Eaton Co. plc (NYSE:ETN) by 18.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 836 shares of the industrial products company’s stock after selling 191 shares during the quarter. Cottonwood Capital Advisors LLC’s holdings in Eaton were worth $277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ETN. Groupama Asset Managment grew its position in Eaton by 83.2% in the third 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 during the period. Horizon Bancorp Inc. IN increased its holdings in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after buying an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new position in shares of Eaton in the third quarter valued at approximately $33,000. West Financial Advisors LLC bought a new stake in Eaton during the 3rd quarter worth approximately $35,000. Finally, DT Investment Partners LLC bought a new position in Eaton in the 3rd quarter valued at $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction 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 owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction 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. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,981 shares of company stock worth $27,660,117 over the last ninety days. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the subject of a number of research reports. Mizuho raised 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. UBS Group started coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Sanford C. Bernstein started coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. Wells Fargo & Company reduced their price objective on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, Barclays boosted their target price on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $368.89.

Eaton Stock Down 0.3 %

NYSE:ETN opened at $368.63 on Friday. Eaton Co. plc has a 1 year low of $241.87 and a 1 year high of $379.99. The stock has a 50-day moving average price of $353.77 and a two-hundred day moving average price of $331.00. The stock has a market cap of $145.68 billion, a price-to-earnings ratio of 39.22, a PEG ratio of 2.57 and a beta of 1.06. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the prior year, the business earned $2.47 EPS. Eaton’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current year.

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.