Eaton Co. plc (NYSE:ETN) is Cumberland Partners Ltd's 4th Largest Position

Cumberland Partners Ltd boosted its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 179,012 shares of the industrial products company's stock after acquiring an additional 12,655 shares during the quarter. Eaton makes up approximately 4.1% of Cumberland Partners Ltd's holdings, making the stock its 4th biggest holding. Cumberland Partners Ltd's holdings in Eaton were worth $59,409,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ETN. Geode Capital Management LLC grew its stake in shares of Eaton by 0.7% during the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company's stock worth $2,665,342,000 after purchasing an additional 56,516 shares during the period. Franklin Resources Inc. increased its stake in Eaton by 15.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company's stock worth $836,938,000 after purchasing an additional 316,830 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Eaton by 32.8% in the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company's stock valued at $801,798,000 after buying an additional 597,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Eaton by 253.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company's stock worth $753,590,000 after purchasing an additional 1,629,856 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Eaton by 1.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,436,051 shares of the industrial products company's stock valued at $476,582,000 after acquiring an additional 13,862 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Bank of America boosted their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Citigroup cut their target price on shares of Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. UBS Group started coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a "buy" rating and a $431.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on shares of Eaton from $350.00 to $348.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada dropped their target price on shares of Eaton from $407.00 to $405.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $366.05.

Eaton Trading Down 4.0 %

ETN traded down $12.33 during trading on Friday, reaching $296.49. The company had a trading volume of 3,264,771 shares, compared to its average volume of 3,319,729. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The business has a 50 day simple moving average of $333.15 and a 200-day simple moving average of $331.88. The stock has a market cap of $117.17 billion, a P/E ratio of 31.27, a PEG ratio of 2.65 and a beta of 1.05. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the company earned $2.55 earnings per share. On average, equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, 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 filing with the SEC, which is available at this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the firm's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

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.