Cullinan Associates Inc. trimmed its holdings in Eaton Co. PLC (NYSE:ETN) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,646 shares of the industrial products company’s stock after selling 3,210 shares during the period. Cullinan Associates Inc.’s holdings in Eaton were worth $4,507,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. State of Alaska Department of Revenue boosted its holdings in Eaton by 3.2% in the 4th quarter. State of Alaska Department of Revenue now owns 134,339 shares of the industrial products company’s stock valued at $9,222,000 after purchasing an additional 4,213 shares during the period. Highwater Wealth Management LLC bought a new position in Eaton in the 4th quarter valued at $26,000. Moody National Bank Trust Division boosted its holdings in Eaton by 37.5% in the 4th quarter. Moody National Bank Trust Division now owns 1,217 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 332 shares during the period. Buckingham Capital Management Inc. boosted its holdings in Eaton by 3.0% in the 3rd quarter. Buckingham Capital Management Inc. now owns 13,840 shares of the industrial products company’s stock valued at $1,200,000 after purchasing an additional 401 shares during the period. Finally, Vanguard Group Inc boosted its holdings in Eaton by 0.5% in the 3rd quarter. Vanguard Group Inc now owns 31,765,973 shares of the industrial products company’s stock valued at $2,755,064,000 after purchasing an additional 150,330 shares during the period. Institutional investors and hedge funds own 77.21% of the company’s stock.

ETN has been the subject of a number of research analyst reports. Stephens initiated coverage on shares of Eaton in a report on Monday, November 19th. They set an “overweight” rating and a $96.00 price objective for the company. Zacks Investment Research downgraded shares of Eaton from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Wells Fargo & Co reaffirmed a “buy” rating on shares of Eaton in a report on Wednesday, September 26th. Citigroup dropped their price objective on shares of Eaton from $92.00 to $88.00 and set a “buy” rating for the company in a report on Friday, November 2nd. Finally, Gordon Haskett initiated coverage on shares of Eaton in a report on Friday, October 12th. They set a “sell” rating for the company. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. Eaton presently has a consensus rating of “Buy” and an average price target of $85.94.

Shares of ETN stock traded up $0.06 during mid-day trading on Friday, reaching $70.25. The stock had a trading volume of 100,252 shares, compared to its average volume of 2,813,161. Eaton Co. PLC has a 52-week low of $64.46 and a 52-week high of $89.85. The stock has a market capitalization of $29.93 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 1.15 and a beta of 1.44. The company has a current ratio of 1.49, a quick ratio of 0.96 and a debt-to-equity ratio of 0.40.

Eaton (NYSE:ETN) last released its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.43. Eaton had a net margin of 10.06% and a return on equity of 13.48%. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same quarter in the previous year, the company earned $1.25 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts predict that Eaton Co. PLC will post 5.35 EPS for the current year.

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About Eaton

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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