Eaton Co. plc (NYSE:ETN) is Cullen Investment Group LTD.’s 6th Largest Position

Cullen Investment Group LTD. trimmed its position in Eaton Co. plc (NYSE:ETN) by 0.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,726 shares of the industrial products company’s stock after selling 34 shares during the period. Eaton makes up about 3.5% of Cullen Investment Group LTD.’s holdings, making the stock its 6th biggest position. Cullen Investment Group LTD.’s holdings in Eaton were worth $23,472,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Gunderson Capital Management Inc. increased its stake in shares of Eaton by 5.9% during the fourth quarter. Gunderson Capital Management Inc. now owns 773 shares of the industrial products company’s stock worth $257,000 after acquiring an additional 43 shares during the period. Unique Wealth LLC boosted its holdings in Eaton by 16.4% in the 4th quarter. Unique Wealth LLC now owns 4,348 shares of the industrial products company’s stock valued at $1,443,000 after purchasing an additional 613 shares in the last quarter. Miracle Mile Advisors LLC increased its position in Eaton by 14.2% during the 4th quarter. Miracle Mile Advisors LLC now owns 6,569 shares of the industrial products company’s stock worth $2,180,000 after purchasing an additional 816 shares during the period. Bar Harbor Wealth Management raised its stake in shares of Eaton by 1.9% during the 4th quarter. Bar Harbor Wealth Management now owns 14,624 shares of the industrial products company’s stock worth $4,853,000 after buying an additional 268 shares in the last quarter. Finally, Enterprise Bank & Trust Co lifted its holdings in shares of Eaton by 100.4% in the 4th quarter. Enterprise Bank & Trust Co now owns 2,200 shares of the industrial products company’s stock valued at $730,000 after buying an additional 1,102 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 76,981 shares of company stock worth $27,660,117. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Citigroup dropped their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday. Mizuho upped their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group raised their price objective on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Wells Fargo & Company lowered their target price on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, UBS Group assumed coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target for the company. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $367.61.

Eaton Stock Down 0.2 %

Shares of NYSE:ETN opened at $340.60 on Tuesday. The company has a market capitalization of $134.61 billion, a P/E ratio of 36.23, a P/E/G ratio of 2.70 and a beta of 1.06. The stock’s fifty day simple moving average is $355.33 and its 200-day simple moving average is $329.15. Eaton Co. plc has a 52-week low of $236.04 and a 52-week high of $379.99. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.47 EPS. As a group, equities research analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.10%. Eaton’s payout ratio is currently 40.00%.

Eaton Company Profile

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.