In many cases, technological advances are based on artificial low-dimensional structures of heterogeneous constituents, thus called hybrids, that when come together they provide stand-alone entities that exhibit entirely different properties. Such hybrids are nowadays intensively studied since they are attractive for both basic research and oncoming practical applications. Here, we studied hybrids constituted of piezoelectric (PE) and ferromagnetic (FM) components in the form FM/PE/FM, ultimately aiming to provide means for the controlled modulation of the properties of the FM electrodes, originating from the strain imposed to them by the PE mediator when an electric field is applied. The PE component is in single crystal form, 0.71Pb(Mg1/3Nb 2/3)O3-0.29PbTiO3 (PMN-PT), while the FM outer layers are Cobalt (Co) in thin film form. Detailed magnetization measurements performed under variation of the electric field applied to PMN-PT demonstrated the efficient modulation of the properties of the Co electrodes at low temperature (coercive field modulation up to 27% and saturation magnetization absolute modulation up to 4% at T = 10 K for electric field not exceeding 6 kV/cm). The modulation degree faints upon increase of the temperature, evidencing that the thermal energy eventually dominates all other relevant energy scales. Candidate mechanisms are discussed for the explanation of these experimental observations. The results presented here demonstrate that commercially available materials can result in quantitatively noticeable effects. Thus, such elemental Co/PMN-PT/Co units can be used as a solid basis for the development of devices. 2013 AIP Publishing LLC.