Eaton Co. plc (NYSE:ETN) Stock Holdings Trimmed by Cypress Capital LLC

Cypress Capital LLC reduced its position in Eaton Co. plc (NYSE:ETN) by 5.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 8,763 shares of the industrial products company’s stock after selling 468 shares during the period. Eaton accounts for approximately 0.8% of Cypress Capital LLC’s holdings, making the stock its 17th biggest holding. Cypress Capital LLC’s holdings in Eaton were worth $2,908,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Eaton by 253.2% during the third 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 purchasing an additional 1,629,856 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Eaton by 27,075.5% during 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 purchasing an additional 1,070,024 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Eaton by 32.8% during 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 purchasing an additional 597,700 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Eaton during the third quarter valued at approximately $137,794,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Eaton by 3,508.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock valued at $133,321,000 after purchasing an additional 390,595 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ETN shares. Melius lowered 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. JPMorgan Chase & Co. decreased their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. UBS Group initiated coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Wells Fargo & Company decreased their price target on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Finally, Bank of America lifted their price objective on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $366.05.

Eaton Trading Down 3.8 %

Eaton stock opened at $297.11 on Friday. The firm has a market cap of $117.42 billion, a price-to-earnings ratio of 31.27, a price-to-earnings-growth ratio of 2.65 and a beta of 1.05. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The firm’s 50 day moving average price is $331.97 and its two-hundred day moving average price is $332.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (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 previous year, the business posted $2.55 EPS. On average, research analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Insider Activity

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the company’s 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 sale, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

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.