Cwm LLC trimmed its holdings in Eaton Co. PLC (NYSE:ETN) by 9.3% in the fourth quarter, Holdings Channel reports. The fund owned 31,524 shares of the industrial products company’s stock after selling 3,232 shares during the period. Cwm LLC’s holdings in Eaton were worth $2,164,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ETN. LSV Asset Management lifted its holdings in shares of Eaton by 310.2% in the 3rd quarter. LSV Asset Management now owns 5,085,523 shares of the industrial products company’s stock worth $441,067,000 after acquiring an additional 3,845,813 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Eaton in the 3rd quarter worth approximately $89,715,000. Bank of New York Mellon Corp lifted its holdings in shares of Eaton by 10.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,233,875 shares of the industrial products company’s stock worth $465,919,000 after acquiring an additional 611,053 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Eaton in the 3rd quarter worth approximately $49,250,000. Finally, Pictet Asset Management Ltd. bought a new stake in shares of Eaton in the 3rd quarter worth approximately $45,172,000. Hedge funds and other institutional investors own 77.15% of the company’s stock.

NYSE:ETN opened at $69.11 on Tuesday. Eaton Co. PLC has a 52 week low of $64.46 and a 52 week high of $89.85. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.49 and a quick ratio of 0.96. The firm has a market cap of $30.80 billion, a P/E ratio of 13.64, a PEG ratio of 1.18 and a beta of 1.44.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $1.43 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.43. Eaton had a net margin of 10.06% and a return on equity of 13.48%. The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same period in the prior year, the business posted $1.25 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. Equities research analysts expect that Eaton Co. PLC will post 5.35 EPS for the current fiscal year.

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird set a $88.00 price objective on shares of Eaton and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research lowered shares of Eaton from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Wolfe Research lowered shares of Eaton from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 8th. Barclays lowered their price objective on shares of Eaton from $75.00 to $73.00 and set an “underweight” rating for the company in a report on Monday, January 7th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $80.00 price target (down from $85.00) on shares of Eaton in a report on Thursday, January 3rd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $86.06.

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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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