Congress Park Capital LLC Has $207,000 Holdings in Eaton Co. PLC (ETN)

Congress Park Capital LLC cut its holdings in shares of Eaton Co. PLC (NYSE:ETN) by 10.4% during the 4th quarter, Holdings Channel reports. The firm owned 3,011 shares of the industrial products company’s stock after selling 350 shares during the quarter. Congress Park Capital LLC’s holdings in Eaton were worth $207,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ETN. FMR LLC increased its holdings in Eaton by 13.2% during the 2nd quarter. FMR LLC now owns 4,337,578 shares of the industrial products company’s stock worth $324,191,000 after purchasing an additional 506,129 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Eaton by 36.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 21,888 shares of the industrial products company’s stock worth $1,636,000 after purchasing an additional 5,814 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Eaton by 10.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,233,875 shares of the industrial products company’s stock worth $465,919,000 after purchasing an additional 611,053 shares during the last quarter. Bank of Montreal Can increased its holdings in Eaton by 17.5% during the 3rd quarter. Bank of Montreal Can now owns 725,340 shares of the industrial products company’s stock worth $62,908,000 after purchasing an additional 108,006 shares during the last quarter. Finally, First Hawaiian Bank purchased a new stake in Eaton during the 3rd quarter worth approximately $918,000. Institutional investors own 79.17% of the company’s stock.

ETN has been the topic of several analyst reports. Citigroup dropped their price objective on Eaton from $92.00 to $88.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. UBS Group set a $97.00 price objective on Eaton and gave the stock a “buy” rating in a report on Wednesday, October 31st. Deutsche Bank dropped their price objective on Eaton from $102.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. Wells Fargo & Co restated a “buy” rating and set a $85.00 price objective (down from $96.00) on shares of Eaton in a report on Tuesday, October 30th. They noted that the move was a valuation call. Finally, Robert W. Baird set a $88.00 price objective on Eaton and gave the stock a “buy” rating in a report on Friday, January 25th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Eaton presently has a consensus rating of “Buy” and an average target price of $86.00.

Shares of NYSE ETN opened at $76.67 on Wednesday. Eaton Co. PLC has a twelve month low of $64.46 and a twelve month high of $89.46. The company has a quick ratio of 0.93, a current ratio of 1.47 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $33.12 billion, a PE ratio of 14.22, a PEG ratio of 1.40 and a beta of 1.45.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, January 31st. The industrial products company reported $1.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.03. Eaton had a return on equity of 14.06% and a net margin of 9.93%. The business had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.42 billion. On average, equities analysts forecast that Eaton Co. PLC will post 5.87 EPS for the current year.

In related news, insider Joao V. Faria sold 5,000 shares of the company’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $76.73, for a total transaction of $383,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Curtis J. Hutchins sold 37,625 shares of the company’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $76.02, for a total value of $2,860,252.50. Following the transaction, the insider now owns 15,872 shares of the company’s stock, valued at $1,206,589.44. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

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Eaton Company Profile

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

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Want to see what other hedge funds are holding ETN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eaton Co. PLC (NYSE:ETN).

Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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