Ci Investments Inc Decreased Stake in Eaton Corp Plc (NYSE:ETN) by $24.88 Million as Shares Declined

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Ci Investments Inc decreased its stake in Eaton Corp Plc (NYSE:ETN) by 40.06% based on its latest Q3 2015 regulatory filing with the SEC. Ci Investments Inc sold 487,887 shares as the company’s stock declined 24.16% with the market. The institutional investor held 730,013 shares of the technology company at the end of Q3, valued at $37.45 million, down from 1.22M at the end of the previous reported quarter. Ci Investments Inc who had been investing in Eaton Corp Plc since many months, could be less bullish the $23.54B market cap company. The stock decreased 2.42% or $1.26 on December 11, hitting $50.88. About 5.87 million shares traded hands or 43.87% up from the average. Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) has declined 29.61% since May 11, 2015 and is downtrending. It has underperformed by 25.20% the S&P500.

Ci Investments Inc, which manages about $7.69 billion US Long portfolio, upped its stake in Invesco Ltd (NYSE:IVZ) by 398,500 shares to 1.90 million shares, valued at $59.33M in Q3, according to the filing. It also increased its holding in Coca Cola Co (NYSE:KO) by 1.02 million shares in the quarter, for total 3.06 million shares, and risen its stake in Dollar Tree Inc (NASDAQ:DLTR).

The institutional sentiment decreased to 0.84 in Q3 2015. Its down 0.18, from 1.02 in 2015Q2. The ratio is negative, as 103 funds sold all ETN shares owned while 295 reduced positions. 65 funds bought stakes while 271 increased positions. They now own 339.51 million shares or 3.08% more from 329.36 million shares in 2015Q2.

Hamlin Capital Management Llc holds 3.27% of its portfolio in ETN for 1.15 million shares. D.C. Capital Advisors Ltd owns 100,000 shares or 3.26% of their US portfolio. Moreover, Matrix Asset Advisors Inc Ny has 3.03% invested in the company for 413,283 shares. The New York-based Levin Capital Strategies L.P. has invested 3.01% in the stock. Haverford Financial Services Inc., a Pennsylvania-based fund reported 125,985 shares.

Get a free copy of the Zacks research report on Eaton Corporation, PLC Ordinary Shares (ETN).

Out of 24 analysts covering Eaton Corporation (NYSE:ETN), 9 rate it “Buy”, 1 “Sell”, while 17 “Hold”. This means 33% are positive. Eaton Corporation was the topic in 23 analyst reports since July 31, 2015 according to StockzIntelligence Inc.

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