Eaton Corporation, PLC $ETN Stock Position Trimmed by Cullen Investment Group LTD.

Cullen Investment Group LTD. trimmed its position in Eaton Corporation, PLC (NYSE:ETN) by 18.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,561 shares of the industrial products company’s stock after selling 13,841 shares during the quarter. Eaton comprises 2.5% of Cullen Investment Group LTD.’s holdings, making the stock its 9th largest position. Cullen Investment Group LTD.’s holdings in Eaton were worth $19,325,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp raised its position in Eaton by 9.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 45,998 shares of the industrial products company’s stock worth $16,830,000 after buying an additional 4,156 shares during the last quarter. Mediolanum International Funds Ltd boosted its holdings in shares of Eaton by 14.2% in the 3rd quarter. Mediolanum International Funds Ltd now owns 121,162 shares of the industrial products company’s stock valued at $44,485,000 after acquiring an additional 15,048 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Eaton by 8.8% in the 2nd quarter. Baird Financial Group Inc. now owns 370,531 shares of the industrial products company’s stock valued at $132,276,000 after acquiring an additional 29,900 shares during the last quarter. Aventura Private Wealth LLC acquired a new stake in shares of Eaton in the fourth quarter worth $1,339,000. Finally, Cullen Frost Bankers Inc. increased its stake in shares of Eaton by 6.0% in the third quarter. Cullen Frost Bankers Inc. now owns 162,634 shares of the industrial products company’s stock worth $60,866,000 after acquiring an additional 9,233 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Up 0.3%

Shares of NYSE:ETN opened at $375.10 on Thursday. The business’s 50 day moving average price is $361.66 and its 200-day moving average price is $356.16. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $408.45. The firm has a market capitalization of $145.53 billion, a price-to-earnings ratio of 35.86, a price-to-earnings-growth ratio of 2.58 and a beta of 1.17. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.32 and a quick ratio of 0.81.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, February 26th. The industrial products company reported $3.23 EPS for the quarter. Eaton had a net margin of 14.89% and a return on equity of 25.00%. On average, equities research analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Tuesday, March 10th will be given a dividend of $1.10 per share. This is a boost from Eaton’s previous quarterly dividend of $1.04. The ex-dividend date is Tuesday, March 10th. This represents a $4.40 annualized dividend and a dividend yield of 1.2%. Eaton’s payout ratio is currently 42.07%.

Analyst Ratings Changes

ETN has been the subject of a number of research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Eaton in a research report on Wednesday, January 21st. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Eaton in a research report on Tuesday, January 27th. Barclays boosted their price objective on Eaton from $350.00 to $354.00 and gave the company an “equal weight” rating in a report on Monday, March 16th. JPMorgan Chase & Co. lowered their target price on Eaton from $440.00 to $406.00 and set an “overweight” rating on the stock in a research note on Friday, January 16th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $407.00 target price on shares of Eaton in a report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $395.11.

Insiders Place Their Bets

In related news, insider Sternadt Paulo Ruiz sold 10,707 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $390.26, for a total value of $4,178,513.82. Following the transaction, the insider directly owned 27,729 shares of the company’s stock, valued at approximately $10,821,519.54. This trade represents a 27.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.10% of the company’s stock.

About Eaton

Eaton (NYSE: ETN) is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company’s offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.