Cigna Investments Inc. New Has $1.35 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Cigna Investments Inc. New cut its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,054 shares of the industrial products company’s stock after selling 60 shares during the quarter. Cigna Investments Inc. New’s holdings in Eaton were worth $1,345,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ETN. CHICAGO TRUST Co NA increased its stake in shares of Eaton by 77.7% in the 3rd quarter. CHICAGO TRUST Co NA now owns 1,965 shares of the industrial products company’s stock valued at $651,000 after acquiring an additional 859 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of Eaton by 62.9% during the 3rd quarter. Sound Income Strategies LLC now owns 697 shares of the industrial products company’s stock worth $231,000 after acquiring an additional 269 shares in the last quarter. Willis Investment Counsel grew its stake in shares of Eaton by 43.5% during the 3rd quarter. Willis Investment Counsel now owns 61,626 shares of the industrial products company’s stock worth $20,425,000 after acquiring an additional 18,685 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in shares of Eaton by 251.5% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,037 shares of the industrial products company’s stock valued at $344,000 after buying an additional 742 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Eaton by 3.4% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,358 shares of the industrial products company’s stock valued at $2,107,000 after buying an additional 207 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ETN has been the subject of several research reports. Wells Fargo & Company cut their price target on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and raised their price target for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. decreased their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Barclays lifted their price target on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, Jefferies Financial Group lifted their price objective on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $369.20.

Insider Activity

In other news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Shares of ETN opened at $319.97 on Tuesday. The stock has a market capitalization of $126.45 billion, a price-to-earnings ratio of 33.68, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock’s 50-day simple moving average is $343.25 and its 200 day simple moving average is $331.29. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter last year, the firm posted $2.55 EPS. Research analysts forecast that Eaton Co. plc will post 12.04 EPS for the current fiscal year.

About Eaton

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.