Victory Capital Management Inc. raised its holdings in shares of Eaton Co. PLC (NYSE:ETN) by 7.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 531,957 shares of the industrial products company’s stock after acquiring an additional 38,321 shares during the quarter. Victory Capital Management Inc. owned approximately 0.12% of Eaton worth $46,137,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of ETN. JNBA Financial Advisors grew its holdings in shares of Eaton by 50,876.7% during the third quarter. JNBA Financial Advisors now owns 45,879 shares of the industrial products company’s stock worth $3,979,000 after buying an additional 45,789 shares in the last quarter. Foster & Motley Inc. grew its holdings in shares of Eaton by 42.2% during the third quarter. Foster & Motley Inc. now owns 22,656 shares of the industrial products company’s stock worth $1,965,000 after buying an additional 6,725 shares in the last quarter. WBI Investments Inc. purchased a new stake in shares of Eaton during the third quarter worth about $1,418,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Eaton by 19.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 383,890 shares of the industrial products company’s stock worth $33,298,000 after buying an additional 61,489 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. grew its holdings in shares of Eaton by 2.5% during the third quarter. Pinnacle Financial Partners Inc. now owns 52,272 shares of the industrial products company’s stock worth $4,534,000 after buying an additional 1,293 shares in the last quarter. Hedge funds and other institutional investors own 77.29% of the company’s stock.
A number of brokerages have recently commented on ETN. Zacks Investment Research downgraded shares of Eaton from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Barclays lifted their price target on shares of Eaton from $71.00 to $77.00 and gave the stock an “underweight” rating in a report on Wednesday, August 1st. Deutsche Bank lifted their price target on shares of Eaton from $92.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, August 16th. Gordon Haskett began coverage on shares of Eaton in a report on Friday, October 12th. They set a “sell” rating for the company. Finally, ValuEngine upgraded shares of Eaton from a “sell” rating to a “hold” rating in a report on Thursday, July 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Eaton currently has an average rating of “Buy” and a consensus target price of $86.12.
Eaton stock opened at $73.43 on Friday. Eaton Co. PLC has a 1 year low of $67.70 and a 1 year high of $89.85. The company has a market capitalization of $32.69 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.37 and a beta of 1.49. The company has a quick ratio of 0.96, a current ratio of 1.49 and a debt-to-equity ratio of 0.40.
Eaton (NYSE:ETN) last released its earnings results on Tuesday, October 30th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.43. Eaton had a net margin of 10.06% and a return on equity of 13.48%. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the previous year, the firm earned $1.25 earnings per share. Eaton’s revenue was up 3.9% compared to the same quarter last year. On average, research analysts predict that Eaton Co. PLC will post 5.35 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Friday, November 2nd will be issued a $0.66 dividend. The ex-dividend date is Thursday, November 1st. This represents a $2.64 dividend on an annualized basis and a yield of 3.60%. Eaton’s payout ratio is 56.77%.
In other Eaton news, Director Deborah L. Mccoy sold 3,000 shares of Eaton stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $84.55, for a total transaction of $253,650.00. Following the transaction, the director now directly owns 32,936 shares of the company’s stock, valued at $2,784,738.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Ken D. Semelsberger sold 11,500 shares of Eaton stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $86.57, for a total transaction of $995,555.00. Following the transaction, the insider now directly owns 78,883 shares in the company, valued at $6,828,901.31. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,000 shares of company stock valued at $4,617,645. 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.
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