Cumberland Partners Ltd Sells 1,815 Shares of Eaton Co. plc (NYSE:ETN)

Cumberland Partners Ltd decreased its stake in shares of Eaton Co. plc (NYSE:ETN) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 195,019 shares of the industrial products company’s stock after selling 1,815 shares during the period. Eaton accounts for approximately 4.0% of Cumberland Partners Ltd’s holdings, making the stock its 2nd biggest holding. Cumberland Partners Ltd’s holdings in Eaton were worth $46,964,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners acquired a new position in Eaton during the 4th quarter valued at about $25,000. Valued Wealth Advisors LLC acquired a new position in Eaton during the 4th quarter valued at about $35,000. Chilton Capital Management LLC acquired a new position in Eaton during the 4th quarter valued at about $35,000. Authentikos Wealth Advisory LLC acquired a new position in Eaton during the 3rd quarter valued at about $39,000. Finally, Fortitude Family Office LLC acquired a new position in Eaton during the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ETN shares. Mizuho increased their price target on shares of Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. UBS Group increased their price target on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $286.00 to $371.00 in a research note on Friday, April 5th. Bank of America increased their target price on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Evercore ISI increased their target price on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $295.60.

Eaton Price Performance

Shares of NYSE ETN traded up $4.81 during mid-day trading on Tuesday, reaching $312.90. The company had a trading volume of 2,781,131 shares, compared to its average volume of 1,925,753. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51. Eaton Co. plc has a one year low of $161.12 and a one year high of $331.47. The firm has a market cap of $125.00 billion, a price-to-earnings ratio of 39.02, a PEG ratio of 2.51 and a beta of 1.07. The business’s 50-day simple moving average is $302.20 and its 200 day simple moving average is $256.66.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $5.91 billion. During the same quarter last year, the business earned $2.06 earnings per share. Eaton’s revenue was up 10.8% on a year-over-year basis. On average, research analysts predict that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.20%. Eaton’s payout ratio is currently 46.88%.

Insider Buying and Selling

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the transaction, the insider now owns 29,712 shares in the company, valued at $8,116,427.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the transaction, the insider now owns 29,712 shares in the company, valued at $8,116,427.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the transaction, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,969 shares of company stock worth $10,904,774. Company insiders own 0.33% of the company’s stock.

Eaton 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.