Eaton Co. plc (NYSE:ETN) Stock Holdings Raised by Cumberland Partners Ltd

Cumberland Partners Ltd raised its position in Eaton Co. plc (NYSE:ETN) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 179,012 shares of the industrial products company’s stock after acquiring an additional 12,655 shares during the quarter. Eaton accounts for about 4.1% of Cumberland Partners Ltd’s investment portfolio, making the stock its 4th largest holding. Cumberland Partners Ltd’s holdings in Eaton were worth $59,409,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Foundations Investment Advisors LLC lifted its holdings in Eaton by 17.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,830 shares of the industrial products company’s stock worth $607,000 after buying an additional 271 shares in the last quarter. Calton & Associates Inc. lifted its stake in shares of Eaton by 63.7% in the third quarter. Calton & Associates Inc. now owns 1,264 shares of the industrial products company’s stock worth $419,000 after acquiring an additional 492 shares in the last quarter. Private Advisor Group LLC boosted its holdings in Eaton by 16.7% in the third quarter. Private Advisor Group LLC now owns 38,564 shares of the industrial products company’s stock valued at $12,782,000 after purchasing an additional 5,508 shares during the last quarter. GAM Holding AG increased its holdings in Eaton by 4.7% during the 3rd quarter. GAM Holding AG now owns 10,948 shares of the industrial products company’s stock worth $3,629,000 after purchasing an additional 490 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its position in shares of Eaton by 31.0% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 2,716 shares of the industrial products company’s stock valued at $901,000 after purchasing an additional 643 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ETN. JPMorgan Chase & Co. dropped their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Wells Fargo & Company cut their target price 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 price target on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Citigroup cut their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research report on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average target price of $366.05.

Insider Activity at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the sale, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Eaton Price Performance

NYSE ETN opened at $309.31 on Thursday. The company has a 50-day moving average price of $334.15 and a two-hundred day moving average price of $332.04. The stock has a market cap of $122.24 billion, a price-to-earnings ratio of 32.56, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the company posted $2.55 EPS. Analysts forecast that Eaton Co. plc will post 12.03 EPS for the current 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.