Eliot Finkel Investment Counsel LLC continued to hold its stake in shares of Eaton Corp. PLC (NYSE:ETN) during the second quarter, Holdings Channel reports. The firm owned 66,675 shares of the company’s stock at the end of the second quarter. Eaton Corp. PLC comprises 3.5% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 14th largest position. Eliot Finkel Investment Counsel LLC’s holdings in Eaton Corp. PLC were worth $3,982,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in ETN. Physicians Financial Services Inc. boosted its stake in shares of Eaton Corp. PLC by 111.7% in the second quarter. Physicians Financial Services Inc. now owns 1,706 shares of the company’s stock worth $102,000 after buying an additional 900 shares during the period. Zions Bancorporation boosted its stake in shares of Eaton Corp. PLC by 209.7% in the first quarter. Zions Bancorporation now owns 1,753 shares of the company’s stock worth $110,000 after buying an additional 1,187 shares during the period. Kistler Tiffany Companies LLC boosted its stake in shares of Eaton Corp. PLC by 2.8% in the second quarter. Kistler Tiffany Companies LLC now owns 1,809 shares of the company’s stock worth $108,000 after buying an additional 49 shares during the period. American National Bank boosted its stake in shares of Eaton Corp. PLC by 171.6% in the second quarter. American National Bank now owns 1,915 shares of the company’s stock worth $114,000 after buying an additional 1,210 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of Eaton Corp. PLC during the second quarter worth about $130,000. Institutional investors and hedge funds own 74.34% of the company’s stock.
Eaton Corp. PLC (NYSE:ETN) traded up 0.24% during mid-day trading on Friday, hitting $63.30. 2,043,908 shares of the stock were exchanged. The company has a market capitalization of $28.78 billion, a PE ratio of 15.63 and a beta of 1.55. The stock has a 50 day moving average price of $64.81 and a 200 day moving average price of $63.12. Eaton Corp. PLC has a 1-year low of $46.19 and a 1-year high of $68.20.
Eaton Corp. PLC (NYSE:ETN) last announced its earnings results on Tuesday, August 2nd. The company reported $1.07 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.07. Eaton Corp. PLC had a return on equity of 12.28% and a net margin of 9.29%. The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same period in the prior year, the business posted $1.16 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. On average, equities analysts anticipate that Eaton Corp. PLC will post $4.28 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on ETN. Credit Suisse Group AG reiterated a “buy” rating on shares of Eaton Corp. PLC in a research report on Saturday, July 9th. Zacks Investment Research cut shares of Eaton Corp. PLC from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Barclays PLC increased their price objective on shares of Eaton Corp. PLC from $67.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 3rd. Sanford C. Bernstein reissued a “market perform” rating on shares of Eaton Corp. PLC in a report on Monday, June 27th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $65.00 price objective on shares of Eaton Corp. PLC in a report on Thursday, August 25th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $63.17.
In related news, insider Mark M. Mcguire sold 18,751 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $64.55, for a total value of $1,210,377.05. Following the sale, the insider now directly owns 51,447 shares in the company, valued at $3,320,903.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard H. Fearon sold 65,195 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $65.29, for a total value of $4,256,581.55. Following the completion of the sale, the insider now owns 276,386 shares in the company, valued at $18,045,241.94. The disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.
About Eaton Corp. PLC
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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