Nicolet Bankshares Inc. boosted its position in Eaton Corp. PLC (NYSE:ETN) by 6.7% during the second quarter, Holdings Channel reports. The firm owned 6,218 shares of the company’s stock after buying an additional 390 shares during the period. Nicolet Bankshares Inc.’s holdings in Eaton Corp. PLC were worth $371,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in ETN. Alps Advisors Inc. increased its stake in Eaton Corp. PLC by 17.5% in the second quarter. Alps Advisors Inc. now owns 427,451 shares of the company’s stock worth $25,532,000 after buying an additional 63,571 shares during the period. Capital One National Association increased its stake in Eaton Corp. PLC by 12.1% in the second quarter. Capital One National Association now owns 3,995 shares of the company’s stock worth $239,000 after buying an additional 431 shares during the period. Hermes Investment Management Ltd. increased its stake in Eaton Corp. PLC by 19.6% in the second quarter. Hermes Investment Management Ltd. now owns 365,441 shares of the company’s stock worth $21,828,000 after buying an additional 59,900 shares during the period. Seminole Management Co. Inc. purchased a new stake in Eaton Corp. PLC during the second quarter worth approximately $21,313,000. Finally, Gateway Investment Advisers LLC increased its stake in Eaton Corp. PLC by 35.5% in the second quarter. Gateway Investment Advisers LLC now owns 423,360 shares of the company’s stock worth $25,287,000 after buying an additional 110,807 shares during the period. 74.34% of the stock is owned by hedge funds and other institutional investors.
Shares of Eaton Corp. PLC (NYSE:ETN) traded up 0.24% during trading on Friday, hitting $63.30. The stock had a trading volume of 2,034,939 shares. The company has a market cap of $28.78 billion, a PE ratio of 15.63 and a beta of 1.55. Eaton Corp. PLC has a 12-month low of $46.19 and a 12-month high of $68.20. The stock’s 50 day moving average is $64.81 and its 200-day moving average is $63.12.
Eaton Corp. PLC (NYSE:ETN) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.07 earnings per share for the quarter, meeting the consensus estimate of $1.07. Eaton Corp. PLC had a return on equity of 12.28% and a net margin of 9.29%. The firm earned $5.10 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the business posted $1.16 EPS. Eaton Corp. PLC’s quarterly revenue was down 5.4% on a year-over-year basis. Analysts forecast that Eaton Corp. PLC will post $4.28 earnings per share for the current year.
Several research analysts recently weighed in on ETN shares. Bank of America Corp. cut Eaton Corp. PLC from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a research report on Thursday, July 14th. They noted that the move was a valuation call. Deutsche Bank AG reiterated a “hold” rating and set a $65.00 price target on shares of Eaton Corp. PLC in a research report on Thursday, August 25th. HSBC started coverage on Eaton Corp. PLC in a research report on Friday, October 7th. They set a “buy” rating and a $74.00 price target for the company. Argus upgraded Eaton Corp. PLC from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Wednesday, August 10th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut Eaton Corp. PLC from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have given a buy rating to the company’s stock. Eaton Corp. PLC has a consensus rating of “Hold” and a consensus target price of $63.17.
In related news, insider Richard H. Fearon sold 65,195 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $65.29, for a total value of $4,256,581.55. Following the completion of the transaction, the insider now directly owns 276,386 shares of the company’s stock, valued at approximately $18,045,241.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dorothy C. Thompson acquired 550 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was purchased at an average cost of $67.32 per share, with a total value of $37,026.00. Following the completion of the purchase, the director now directly owns 550 shares in the company, valued at $37,026. The disclosure for this purchase can be found here. 0.80% of the stock is owned by corporate insiders.
Eaton Corp. PLC Company Profile
Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.
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