Signaturefd LLC boosted its position in shares of Eaton Corp. PLC (NYSE:ETN) by 35.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,933 shares of the company’s stock after buying an additional 511 shares during the period. Signaturefd LLC’s holdings in Eaton Corp. PLC were worth $115,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in ETN. Virginia Retirement System purchased a new position in shares of Eaton Corp. PLC during the first quarter worth approximately $469,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Eaton Corp. PLC by 268.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 18,331 shares of the company’s stock valued at $1,147,000 after buying an additional 13,360 shares in the last quarter. Credit Agricole S A boosted its stake in Eaton Corp. PLC by 1.3% in the first quarter. Credit Agricole S A now owns 316,694 shares of the company’s stock valued at $19,811,000 after buying an additional 4,047 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Eaton Corp. PLC during the first quarter valued at approximately $244,000. Finally, BB&T Securities LLC boosted its stake in Eaton Corp. PLC by 473.9% in the first quarter. BB&T Securities LLC now owns 113,283 shares of the company’s stock valued at $7,087,000 after buying an additional 93,545 shares in the last quarter. 74.32% of the stock is owned by institutional investors and hedge funds.
Eaton Corp. PLC (NYSE:ETN) traded down 0.28% during mid-day trading on Monday, reaching $63.12. The company’s stock had a trading volume of 2,545,499 shares. The stock’s 50 day moving average price is $64.70 and its 200 day moving average price is $63.13. Eaton Corp. PLC has a 1-year low of $46.19 and a 1-year high of $68.20. The stock has a market capitalization of $28.70 billion, a P/E ratio of 15.58 and a beta of 1.54.
Eaton Corp. PLC (NYSE:ETN) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.07 EPS for the quarter, hitting analysts’ consensus estimates of $1.07. The business earned $5.10 billion during the quarter, compared to the consensus estimate of $5.06 billion. Eaton Corp. PLC had a return on equity of 12.28% and a net margin of 9.29%. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.16 EPS. Analysts expect that Eaton Corp. PLC will post $4.28 EPS for the current fiscal year.
Several equities research analysts recently commented on the company. Deutsche Bank AG reaffirmed a “hold” rating and issued a $65.00 price target on shares of Eaton Corp. PLC in a report on Thursday, August 25th. Argus raised Eaton Corp. PLC from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, August 10th. They noted that the move was a valuation call. HSBC assumed coverage on Eaton Corp. PLC in a report on Friday, October 7th. They issued a “buy” rating and a $74.00 price target for the company. Jefferies Group reaffirmed a “hold” rating on shares of Eaton Corp. PLC in a report on Friday, August 5th. Finally, Barclays PLC increased their price target on Eaton Corp. PLC from $67.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, August 3rd. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $63.35.
In related news, insider Uday Yadav sold 15,713 shares of the company’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $67.05, for a total transaction of $1,053,556.65. Following the completion of the sale, the insider now directly owns 22,601 shares of the company’s stock, valued at approximately $1,515,397.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Richard H. Fearon sold 65,195 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $65.29, for a total transaction of $4,256,581.55. Following the sale, the insider now directly owns 276,386 shares of the company’s stock, valued at $18,045,241.94. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.
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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