Choreo LLC Sells 931 Shares of Eaton Co. plc (NYSE:ETN)

Choreo LLC cut its stake in Eaton Co. plc (NYSE:ETN) by 4.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 19,231 shares of the industrial products company’s stock after selling 931 shares during the period. Choreo LLC’s holdings in Eaton were worth $6,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Horizon Bancorp Inc. IN boosted 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 acquiring an additional 74 shares during the period. Morse Asset Management Inc bought a new stake in Eaton in the 3rd quarter valued at $33,000. West Financial Advisors LLC acquired a new position in Eaton in the 3rd quarter valued at $35,000. DT Investment Partners LLC bought a new position in Eaton during the 3rd quarter worth $37,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Eaton during the fourth quarter worth $38,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ETN. Barclays raised their price target on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Melius Research reaffirmed a “hold” rating and set a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Wells Fargo & Company cut their price target on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research note on Monday. Jefferies Financial Group raised their price objective on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research report on Tuesday, January 28th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $369.20.

Eaton Price Performance

Shares of NYSE:ETN opened at $315.04 on Thursday. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market cap of $124.50 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 2.27 and a beta of 1.05. The firm has a 50 day simple moving average of $346.77 and a 200 day simple moving average of $331.28.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 in the previous year, the business posted $2.55 earnings per share. Research analysts predict that Eaton Co. plc will post 12 earnings per share for the current fiscal year.

Insider Transactions at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of Eaton 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 sale, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s 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 transaction, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% 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.