Cullinan Associates Inc. Lowers Stake in Eaton Co. plc (NYSE:ETN)

Cullinan Associates Inc. trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,175 shares of the industrial products company’s stock after selling 97 shares during the quarter. Cullinan Associates Inc.’s holdings in Eaton were worth $1,386,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ETN. Wetzel Investment Advisors Inc. increased its holdings in shares of Eaton by 0.9% during the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after acquiring an additional 28 shares in the last quarter. Strategic Wealth Partners Ltd. raised its holdings in shares of Eaton by 3.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after buying an additional 30 shares during the last quarter. Fairfield Financial Advisors LTD lifted its stake in shares of Eaton by 16.2% during the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after buying an additional 30 shares during the period. Westmount Partners LLC grew its holdings in shares of Eaton by 3.1% during the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after buying an additional 30 shares during the last quarter. Finally, Signal Advisors Wealth LLC raised its stake in Eaton by 3.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 30 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares in the company, valued at $15,379,403.94. This represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,981 shares of company stock valued at $26,318,917 in the last three months. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ETN. Mizuho increased their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Bank of America upped their price objective on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Melius cut shares of 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. Wells Fargo & Company cut their price target on Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Sanford C. Bernstein initiated coverage on Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective for the company. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $369.20.

Eaton Stock Down 3.3 %

NYSE ETN opened at $315.74 on Tuesday. 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 quick ratio of 0.96 and a current ratio of 1.50. The business has a fifty day moving average price of $349.23 and a 200 day moving average price of $331.21. The company has a market cap of $124.78 billion, a P/E ratio of 33.24, a P/E/G ratio of 2.27 and a beta of 1.05.

Eaton (NYSE:ETN) last released its quarterly earnings data 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 net margin of 15.25% and a return on equity of 22.62%. During the same period in the prior year, the business posted $2.55 earnings per share. Research analysts anticipate that Eaton Co. plc will post 12 EPS for the current fiscal year.

About Eaton

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.