Zacks Investment Management grew its stake in Eaton Co. PLC (NYSE:ETN) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 621,010 shares of the industrial products company’s stock after purchasing an additional 5,443 shares during the quarter. Eaton makes up approximately 1.0% of Zacks Investment Management’s holdings, making the stock its 25th biggest holding. Zacks Investment Management owned about 0.14% of Eaton worth $46,414,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of ETN. Wells Fargo & Company MN raised its stake in shares of Eaton by 9.0% in the 1st quarter. Wells Fargo & Company MN now owns 4,930,724 shares of the industrial products company’s stock valued at $394,014,000 after purchasing an additional 407,171 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Eaton by 115.9% during the 1st quarter. Victory Capital Management Inc. now owns 330,007 shares of the industrial products company’s stock valued at $26,371,000 after buying an additional 177,129 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Eaton by 7.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 257,644 shares of the industrial products company’s stock valued at $20,586,000 after buying an additional 17,282 shares during the last quarter. Focused Wealth Management Inc grew its position in shares of Eaton by 33.5% during the 1st quarter. Focused Wealth Management Inc now owns 3,794 shares of the industrial products company’s stock valued at $303,000 after buying an additional 951 shares during the last quarter. Finally, Fiduciary Trust Co. bought a new stake in shares of Eaton during the 1st quarter valued at about $271,000. Institutional investors and hedge funds own 77.56% of the company’s stock.
NYSE ETN traded down $0.49 on Tuesday, hitting $84.76. The stock had a trading volume of 15,514 shares, compared to its average volume of 2,137,383. Eaton Co. PLC has a one year low of $71.62 and a one year high of $89.85. The company has a current ratio of 1.47, a quick ratio of 0.96 and a debt-to-equity ratio of 0.40. The stock has a market cap of $36.31 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 1.53 and a beta of 1.39.
Eaton (NYSE:ETN) last posted its earnings results on Tuesday, July 31st. The industrial products company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.32 by $0.07. Eaton had a net margin of 14.80% and a return on equity of 13.11%. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.45 billion. During the same quarter in the prior year, the firm earned $1.15 EPS. Eaton’s quarterly revenue was up 6.9% on a year-over-year basis. equities research analysts expect that Eaton Co. PLC will post 5.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Friday, August 3rd were given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Thursday, August 2nd. Eaton’s dividend payout ratio (DPR) is 56.77%.
A number of equities research analysts recently weighed in on ETN shares. ValuEngine downgraded shares of Eaton from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Zacks Investment Research raised shares of Eaton from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research report on Monday, August 6th. JPMorgan Chase & Co. raised shares of Eaton from a “neutral” rating to an “overweight” rating and set a $92.00 price objective for the company in a research report on Monday, August 13th. Deutsche Bank set a $86.00 price objective on shares of Eaton and gave the company a “buy” rating in a research report on Thursday, July 12th. Finally, Morgan Stanley started coverage on shares of Eaton in a research report on Monday, August 20th. They set an “equal weight” rating and a $86.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. Eaton has a consensus rating of “Buy” and an average target price of $87.61.
In other Eaton news, insider Revathi Advaithi sold 15,500 shares of the company’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $82.98, for a total value of $1,286,190.00. Following the completion of the transaction, the insider now owns 24,715 shares in the company, valued at approximately $2,050,850.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Deborah L. Mccoy sold 3,000 shares of the company’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $84.55, for a total transaction of $253,650.00. Following the completion of the transaction, the director now owns 32,936 shares of the company’s stock, valued at approximately $2,784,738.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,500 shares of company stock valued at $3,622,090. 0.50% of the stock is owned by insiders.
Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
Further Reading: How do investors use RSI to grade stocks?
Receive News & Ratings for Eaton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton and related companies with MarketBeat.com's FREE daily email newsletter.