Coastal Investment Advisors Inc. Sells 125 Shares of Eaton Co. plc (NYSE:ETN)


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Coastal Investment Advisors Inc. decreased its position in Eaton Co. plc (NYSE:ETN) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,216 shares of the industrial products company’s stock after selling 125 shares during the period. Coastal Investment Advisors Inc.’s holdings in Eaton were worth $507,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ETN. Alhambra Investment Partners LLC increased its position in Eaton by 3.4% during the third quarter. Alhambra Investment Partners LLC now owns 2,720 shares of the industrial products company’s stock worth $278,000 after buying an additional 90 shares in the last quarter. HawsGoodwin Investment Management LLC raised its position in Eaton by 0.7% in the third quarter. HawsGoodwin Investment Management LLC now owns 13,877 shares of the industrial products company’s stock worth $1,416,000 after purchasing an additional 92 shares in the last quarter. Ingalls & Snyder LLC raised its position in Eaton by 0.8% in the third quarter. Ingalls & Snyder LLC now owns 12,900 shares of the industrial products company’s stock worth $1,316,000 after purchasing an additional 100 shares in the last quarter. Cadence Bank NA raised its position in Eaton by 1.0% in the third quarter. Cadence Bank NA now owns 10,364 shares of the industrial products company’s stock worth $1,058,000 after purchasing an additional 100 shares in the last quarter. Finally, SeaCrest Wealth Management LLC raised its position in Eaton by 1.5% in the third quarter. SeaCrest Wealth Management LLC now owns 6,786 shares of the industrial products company’s stock worth $692,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 67.52% of the company’s stock.

ETN stock opened at $125.41 on Thursday. The company has a 50 day simple moving average of $119.82 and a 200 day simple moving average of $106.07. The stock has a market cap of $49.99 billion, a price-to-earnings ratio of 36.89, a P/E/G ratio of 2.55 and a beta of 1.16. Eaton Co. plc has a 1 year low of $56.42 and a 1 year high of $130.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.49 and a quick ratio of 1.13.

Eaton (NYSE:ETN) last released its quarterly earnings data on Sunday, November 8th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.13. The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.21 billion. Eaton had a net margin of 7.53% and a return on equity of 11.94%. The firm’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.52 EPS. On average, equities research analysts anticipate that Eaton Co. plc will post 4.17 EPS for the current fiscal year.

In other Eaton news, Director Deborah L. Mccoy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, December 4th. The shares were sold at an average price of $119.58, for a total value of $179,370.00. Following the completion of the transaction, the director now directly owns 25,436 shares in the company, valued at approximately $3,041,636.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Nandakumar Cheruvatath sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 24th. The shares were sold at an average price of $122.95, for a total transaction of $368,850.00. Following the completion of the transaction, the insider now owns 14,843 shares of the company’s stock, valued at $1,824,946.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 175,663 shares of company stock valued at $20,567,444. 0.54% of the stock is owned by corporate insiders.

ETN has been the subject of several recent research reports. Barclays increased their price target on shares of Eaton from $95.00 to $105.00 in a research report on Thursday, November 5th. Citigroup raised their price objective on shares of Eaton from $106.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, October 16th. Oppenheimer raised their price objective on shares of Eaton from $110.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, November 4th. BidaskClub raised shares of Eaton from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 7th. Finally, Wells Fargo & Company raised their price objective on shares of Eaton from $110.00 to $130.00 in a report on Friday, October 9th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $110.38.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, wiring devices, and structural support systems; and residential, single phase power quality, emergency lighting and fire detection, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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