Cypress Capital Management LLC Takes $962,000 Position in Eaton Co., PLC (ETN)
Cypress Capital Management LLC acquired a new position in shares of Eaton Co., PLC (NYSE:ETN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,177 shares of the industrial products company’s stock, valued at approximately $962,000.
Other large investors have also recently bought and sold shares of the company. Cable Hill Partners LLC lifted its holdings in Eaton by 174.8% during the 3rd quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock worth $105,000 after buying an additional 867 shares in the last quarter. Fieldpoint Private Securities LLC acquired a new position in Eaton during the 3rd quarter worth $130,000. Murphy Capital Management Inc. acquired a new position in Eaton during the 4th quarter worth $201,000. Wellington Shields Capital Management LLC acquired a new position in Eaton during the 4th quarter worth $206,000. Finally, Carroll Financial Associates Inc. raised its position in shares of Eaton by 113.6% during the 4th quarter. Carroll Financial Associates Inc. now owns 2,805 shares of the industrial products company’s stock valued at $221,000 after acquiring an additional 1,492 shares during the last quarter. 76.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Eaton Co., PLC (NYSE ETN) opened at $80.77 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.65 and a quick ratio of 1.13. Eaton Co., PLC has a 1 year low of $69.82 and a 1 year high of $89.85. The company has a market cap of $35,587.26, a price-to-earnings ratio of 12.09, a P/E/G ratio of 1.94 and a beta of 1.39.
In related news, insider Curtis J. Hutchins sold 14,360 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $78.36, for a total value of $1,125,249.60. Following the completion of the sale, the insider now owns 26,596 shares in the company, valued at approximately $2,084,062.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Nandakumar Cheruvatath sold 10,000 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $77.50, for a total transaction of $775,000.00. Following the completion of the sale, the insider now owns 16,571 shares of the company’s stock, valued at approximately $1,284,252.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,745 shares of company stock valued at $2,233,669. 0.80% of the stock is owned by corporate insiders.
Several analysts have commented on ETN shares. Citigroup upped their target price on shares of Eaton from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Stifel Nicolaus reiterated a “hold” rating and set a $80.00 target price on shares of Eaton in a research report on Monday, December 11th. Zacks Investment Research upgraded shares of Eaton from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Tuesday, January 2nd. Credit Suisse Group reiterated an “outperform” rating and set a $92.00 target price (up previously from $86.00) on shares of Eaton in a research report on Wednesday, November 1st. Finally, Buckingham Research started coverage on shares of Eaton in a research report on Tuesday, October 17th. They set a “neutral” rating and a $82.00 target price for the company. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $86.93.
Eaton Company Profile
Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.
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