TD Asset Management Inc. Sells 8,875 Shares of Eaton Co. PLC (ETN)

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TD Asset Management Inc. cut its position in shares of Eaton Co. PLC (NYSE:ETN) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 377,226 shares of the industrial products company’s stock after selling 8,875 shares during the quarter. TD Asset Management Inc.’s holdings in Eaton were worth $25,901,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. grew its holdings in Eaton by 3.8% in the third quarter. Cullen Frost Bankers Inc. now owns 235,152 shares of the industrial products company’s stock valued at $20,394,000 after purchasing an additional 8,651 shares during the period. Bank of New York Mellon Corp grew its holdings in Eaton by 10.9% in the second quarter. Bank of New York Mellon Corp now owns 6,233,875 shares of the industrial products company’s stock valued at $465,919,000 after purchasing an additional 611,053 shares during the period. Factory Mutual Insurance Co. grew its holdings in Eaton by 26.2% in the fourth quarter. Factory Mutual Insurance Co. now owns 798,556 shares of the industrial products company’s stock valued at $54,829,000 after purchasing an additional 165,700 shares during the period. Advisors Asset Management Inc. grew its holdings in Eaton by 36.2% in the second quarter. Advisors Asset Management Inc. now owns 21,888 shares of the industrial products company’s stock valued at $1,636,000 after purchasing an additional 5,814 shares during the period. Finally, Cornerstone Wealth Management LLC grew its holdings in Eaton by 14.9% in the third quarter. Cornerstone Wealth Management LLC now owns 268,929 shares of the industrial products company’s stock valued at $3,462,000 after purchasing an additional 34,925 shares during the period. Hedge funds and other institutional investors own 77.02% of the company’s stock.

In other news, insider Joao V. Faria sold 5,000 shares of the business’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $76.73, for a total transaction of $383,650.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

NYSE ETN opened at $75.83 on Friday. Eaton Co. PLC has a 52 week low of $64.46 and a 52 week high of $89.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.47. The firm has a market cap of $33.09 billion, a PE ratio of 14.07, a PEG ratio of 1.41 and a beta of 1.45.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, January 31st. The industrial products company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. Eaton had a net margin of 9.93% and a return on equity of 14.06%. The business had revenue of $5.46 billion for the quarter, compared to analysts’ expectations of $5.42 billion. As a group, equities research analysts anticipate that Eaton Co. PLC will post 5.87 earnings per share for the current year.

ETN has been the topic of a number of recent research reports. Morgan Stanley reduced their price target on shares of Eaton from $94.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, October 31st. Credit Suisse Group reduced their price target on shares of Eaton from $91.00 to $85.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 31st. Deutsche Bank reduced their price target on shares of Eaton from $102.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, October 31st. Barclays reaffirmed an “underweight” rating and set a $75.00 price target (down from $77.00) on shares of Eaton in a research report on Thursday, November 1st. Finally, UBS Group set a $97.00 price target on shares of Eaton and gave the company a “buy” rating in a research report on Wednesday, October 31st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. Eaton currently has an average rating of “Buy” and an average target price of $86.00.

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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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