Canada Pension Plan Investment Board Lowers Position in Eaton Co. plc (NYSE:ETN)

Canada Pension Plan Investment Board decreased its position in shares of Eaton Co. plc (NYSE:ETNFree Report) by 46.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,115 shares of the industrial products company’s stock after selling 75,000 shares during the period. Canada Pension Plan Investment Board’s holdings in Eaton were worth $18,153,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ETN. Capital Investment Advisory Services LLC increased its stake in shares of Eaton by 3.9% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 1,326 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 50 shares in the last quarter. Strategic Advisors LLC increased its position in Eaton by 0.4% during the second quarter. Strategic Advisors LLC now owns 14,249 shares of the industrial products company’s stock worth $2,865,000 after buying an additional 51 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of Eaton by 2.9% in the third quarter. Proficio Capital Partners LLC now owns 1,836 shares of the industrial products company’s stock valued at $392,000 after acquiring an additional 51 shares in the last quarter. Valmark Advisers Inc. boosted its stake in shares of Eaton by 1.1% during the second quarter. Valmark Advisers Inc. now owns 4,813 shares of the industrial products company’s stock valued at $968,000 after acquiring an additional 52 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in Eaton by 0.8% during the 2nd quarter. Parallel Advisors LLC now owns 6,240 shares of the industrial products company’s stock worth $1,255,000 after purchasing an additional 52 shares in the last quarter. 81.02% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Eaton

In other news, insider Sternadt Paulo Ruiz sold 2,639 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $228.05, for a total transaction of $601,823.95. Following the transaction, the insider now directly owns 11,636 shares of the company’s stock, valued at $2,653,589.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Sternadt Paulo Ruiz sold 2,639 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $228.05, for a total value of $601,823.95. Following the transaction, the insider now owns 11,636 shares in the company, valued at $2,653,589.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the sale, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Eaton Price Performance

Eaton stock opened at $277.96 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $110.99 billion, a P/E ratio of 34.66, a PEG ratio of 2.32 and a beta of 1.04. The firm has a fifty day moving average of $243.38 and a 200-day moving average of $226.58. Eaton Co. plc has a 52-week low of $155.38 and a 52-week high of $278.58.

Eaton (NYSE:ETNGet Free Report) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The company had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period last year, the company posted $2.06 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. As a group, analysts predict that Eaton Co. plc will post 10.17 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ETN shares. Royal Bank of Canada raised their price target on shares of Eaton from $220.00 to $246.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Wells Fargo & Company lifted their target price on shares of Eaton from $220.00 to $257.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 19th. Barclays increased their price target on Eaton from $185.00 to $187.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 1st. Citigroup upped their target price on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, UBS Group raised their price target on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $237.92.

View Our Latest Analysis on ETN

Eaton Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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