Cullinan Associates Inc. Has $4.51 Million Stake in Eaton Co. PLC (ETN)

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Cullinan Associates Inc. lessened its position in Eaton Co. PLC (NYSE:ETN) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. 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 SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ETN. Vanguard Group Inc. lifted its position in Eaton by 0.5% during the third 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. Vanguard Group Inc lifted its position in Eaton by 0.5% during the third 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. Bank of New York Mellon Corp lifted its position in Eaton by 9.4% during the third quarter. Bank of New York Mellon Corp now owns 6,820,730 shares of the industrial products company’s stock valued at $591,563,000 after purchasing an additional 586,855 shares during the period. LSV Asset Management lifted its position in Eaton by 310.2% during the third quarter. LSV Asset Management now owns 5,085,523 shares of the industrial products company’s stock valued at $441,067,000 after purchasing an additional 3,845,813 shares during the period. Finally, Morgan Stanley lifted its position in Eaton by 6.4% during the third quarter. Morgan Stanley now owns 4,737,065 shares of the industrial products company’s stock valued at $410,845,000 after purchasing an additional 285,824 shares during the period. Hedge funds and other institutional investors own 77.21% of the company’s stock.

ETN stock traded up $0.06 during trading on Friday, hitting $70.25. 100,252 shares of the company’s stock traded hands, 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 company has a quick ratio of 0.96, a current ratio of 1.49 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $29.93 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 1.15 and a beta of 1.44.

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

A number of research analysts recently weighed in on ETN shares. Wells Fargo & Co restated a “buy” rating on shares of Eaton in a research report on Wednesday, September 26th. Deutsche Bank upped their target price on shares of Eaton from $95.00 to $102.00 and gave the company a “buy” rating in a report on Friday, September 28th. UBS Group raised shares of Eaton from a “neutral” rating to a “buy” rating and upped their target price for the company from $91.00 to $100.00 in a report on Friday, September 21st. Credit Suisse Group initiated coverage on shares of Eaton in a report on Friday, October 12th. They set an “outperform” rating and a $91.00 target price for the company. 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 assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $85.94.

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Eaton Company Profile

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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