Canada Pension Plan Investment Board Reduces Holdings in Eaton Co. plc (NYSE:ETN)

Canada Pension Plan Investment Board lessened its stake in shares of Eaton Co. plc (NYSE:ETNFree Report) by 46.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 85,115 shares of the industrial products company’s stock after selling 75,000 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Eaton were worth $18,153,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. PCA Investment Advisory Services Inc. bought a new stake in shares of Eaton during the 2nd quarter worth approximately $27,000. Global Trust Asset Management LLC purchased a new stake in shares of Eaton during the third quarter valued at $32,000. Cornerstone Planning Group LLC purchased a new stake in shares of Eaton during the second quarter valued at $36,000. Authentikos Wealth Advisory LLC bought a new position in shares of Eaton in the third quarter worth about $39,000. Finally, NewSquare Capital LLC bought a new stake in Eaton during the 2nd quarter valued at about $39,000. Institutional investors own 81.02% of the company’s stock.

Eaton Stock Performance

Shares of ETN opened at $277.96 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51. The stock has a 50-day moving average of $243.38 and a two-hundred day moving average of $226.58. The stock has a market cap of $110.99 billion, a P/E ratio of 34.66, a P/E/G ratio of 2.32 and a beta of 1.04. Eaton Co. plc has a one year low of $155.38 and a one year high of $278.58.

Eaton (NYSE:ETNGet Free Report) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The firm had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the previous year, the company posted $2.06 earnings per share. The company’s revenue was up 10.8% compared to the same quarter last year. As a group, research analysts predict that Eaton Co. plc will post 10.17 EPS for the current year.

Insider Buying and Selling

In other news, insider Sternadt Paulo Ruiz sold 2,639 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $228.05, for a total value of $601,823.95. Following the sale, the insider now owns 11,636 shares in the company, valued at $2,653,589.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the sale, the insider now directly owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sternadt Paulo Ruiz sold 2,639 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $228.05, for a total value of $601,823.95. Following the sale, the insider now owns 11,636 shares in the company, valued at $2,653,589.80. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Eaton from $220.00 to $257.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 19th. UBS Group increased their price objective on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Barclays lifted their target price on Eaton from $185.00 to $187.00 and gave the company an “underweight” rating in a research report on Wednesday, November 1st. Citigroup increased their price target on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Royal Bank of Canada lifted their price objective on Eaton from $220.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $237.92.

Read Our Latest Report on Eaton

Eaton Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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