Cypress Asset Management Inc. TX Lowers Stock Holdings in Eaton Co. PLC (NYSE:ETN)

Cypress Asset Management Inc. TX reduced its position in shares of Eaton Co. PLC (NYSE:ETN) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,470 shares of the industrial products company’s stock after selling 650 shares during the period. Cypress Asset Management Inc. TX’s holdings in Eaton were worth $2,118,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Buckingham Capital Management Inc. boosted its holdings in Eaton by 2.5% in the first quarter. Buckingham Capital Management Inc. now owns 13,018 shares of the industrial products company’s stock valued at $1,049,000 after purchasing an additional 315 shares during the period. Marshall Wace LLP acquired a new stake in shares of Eaton during the first quarter worth about $947,000. Marshall Wace North America L.P. acquired a new stake in shares of Eaton during the first quarter worth about $270,000. Clearbridge Investments LLC increased its position in shares of Eaton by 8.0% during the first quarter. Clearbridge Investments LLC now owns 72,621 shares of the industrial products company’s stock worth $5,850,000 after purchasing an additional 5,409 shares in the last quarter. Finally, First Financial Bank Trust Division increased its position in shares of Eaton by 2.1% during the second quarter. First Financial Bank Trust Division now owns 55,373 shares of the industrial products company’s stock worth $4,611,000 after purchasing an additional 1,148 shares in the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Several equities analysts recently issued reports on the company. Morgan Stanley boosted their price target on Eaton from $88.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada set a $84.00 price target on Eaton and gave the company a “hold” rating in a research report on Wednesday, July 31st. Robert W. Baird cut Eaton from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $89.00 to $82.00 in a research report on Tuesday, September 3rd. Vertical Group cut Eaton from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Finally, Oppenheimer upgraded Eaton from a “market perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $88.23.

ETN stock traded up $0.91 during trading on Monday, hitting $83.47. The company had a trading volume of 28,740 shares, compared to its average volume of 2,252,638. The firm has a market cap of $34.19 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 1.60 and a beta of 1.43. Eaton Co. PLC has a 1-year low of $64.46 and a 1-year high of $89.07. The firm has a 50-day moving average price of $82.16 and a 200-day moving average price of $80.89. The company has a quick ratio of 1.18, a current ratio of 1.83 and a debt-to-equity ratio of 0.51.

Eaton (NYSE:ETN) last released its earnings results on Tuesday, July 30th. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.02. Eaton had a return on equity of 14.88% and a net margin of 10.16%. The company had revenue of $5.53 billion for the quarter, compared to analysts’ expectations of $5.63 billion. During the same quarter in the previous year, the firm posted $1.39 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. Sell-side analysts anticipate that Eaton Co. PLC will post 5.82 earnings per share for the current year.

In other news, insider Ken D. Semelsberger sold 17,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $88.69, for a total transaction of $1,507,730.00. Following the sale, the insider now owns 69,936 shares of the company’s stock, valued at approximately $6,202,623.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard H. Fearon sold 80,592 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $82.75, for a total value of $6,668,988.00. Following the sale, the insider now directly owns 270,097 shares in the company, valued at approximately $22,350,526.75. The disclosure for this sale can be found here. Insiders have sold a total of 101,592 shares of company stock worth $8,501,148 in the last quarter. 0.70% of the stock is currently owned by insiders.

Eaton 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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