Eaton Co. plc (NYSE:ETN) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. decreased its stake in shares of Eaton Co. plc (NYSE:ETN) by 2.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,175 shares of the industrial products company’s stock after selling 97 shares during the period. Cullinan Associates Inc.’s holdings in Eaton were worth $1,386,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Eaton by 253.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after buying an additional 1,629,856 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Eaton by 27,075.5% in the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after buying an additional 1,070,024 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Eaton by 32.8% in the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after acquiring an additional 597,700 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Eaton during the third quarter worth approximately $137,794,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Eaton by 3,508.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock valued at $133,321,000 after acquiring an additional 390,595 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

ETN has been the topic of a number of recent research reports. Jefferies Financial Group lifted their price objective on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and upped their price objective for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Melius Research reissued a “hold” rating and set a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Citigroup lowered their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Wells Fargo & Company lowered their price target on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $369.20.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the sale, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,981 shares of company stock valued at $26,318,917 in the last quarter. Insiders own 0.33% of the company’s stock.

Eaton Trading Down 3.3 %

ETN opened at $315.74 on Tuesday. Eaton Co. plc has a 12-month low of $255.65 and a 12-month 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 stock has a market capitalization of $124.78 billion, a PE ratio of 33.24, a P/E/G ratio of 2.27 and a beta of 1.05. The firm’s fifty day moving average price is $349.23 and its 200 day moving average price is $331.21.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping 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 prior year, the business earned $2.55 earnings per share. As a group, research analysts expect that Eaton Co. plc will post 12 EPS for the current fiscal year.

Eaton 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.