Cigna Investments Inc. New Sells 60 Shares of Eaton Co. plc (NYSE:ETN)

Cigna Investments Inc. New cut its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,054 shares of the industrial products company’s stock after selling 60 shares during the period. Cigna Investments Inc. New’s holdings in Eaton were worth $1,345,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. CHICAGO TRUST Co NA raised its position in shares of Eaton by 77.7% during the 3rd quarter. CHICAGO TRUST Co NA now owns 1,965 shares of the industrial products company’s stock worth $651,000 after purchasing an additional 859 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of Eaton by 62.9% during the 3rd quarter. Sound Income Strategies LLC now owns 697 shares of the industrial products company’s stock worth $231,000 after purchasing an additional 269 shares during the period. Willis Investment Counsel boosted its position in Eaton by 43.5% in the 3rd quarter. Willis Investment Counsel now owns 61,626 shares of the industrial products company’s stock valued at $20,425,000 after buying an additional 18,685 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in Eaton by 251.5% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,037 shares of the industrial products company’s stock valued at $344,000 after buying an additional 742 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Eaton by 3.4% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,358 shares of the industrial products company’s stock valued at $2,107,000 after purchasing an additional 207 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ETN. Wells Fargo & Company cut 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 note on Monday, February 3rd. Jefferies Financial Group lifted their target price on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and boosted their price objective for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Barclays boosted their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, Mizuho lifted their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $369.20.

Eaton Price Performance

Shares of ETN opened at $319.97 on Tuesday. Eaton Co. plc has a twelve month low of $255.65 and a twelve month 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 firm’s 50 day moving average price is $343.25 and its 200 day moving average price is $331.29. The firm has a market cap of $126.45 billion, a PE ratio of 33.68, a PEG ratio of 2.37 and a beta of 1.05.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 previous year, the business earned $2.55 earnings per share. As a group, research analysts expect that Eaton Co. plc will post 12.04 EPS for the current fiscal year.

Eaton Company 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.