Corient Capital Partners LLC increased its position in shares of Eaton Co. PLC (NYSE:ETN) by 10.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,173 shares of the industrial products company’s stock after buying an additional 1,559 shares during the period. Corient Capital Partners LLC’s holdings in Eaton were worth $1,430,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its position in shares of Eaton by 0.6% in the second quarter. Janney Montgomery Scott LLC now owns 284,809 shares of the industrial products company’s stock valued at $23,719,000 after buying an additional 1,747 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in shares of Eaton by 10.8% in the second quarter. Kornitzer Capital Management Inc. KS now owns 2,781 shares of the industrial products company’s stock valued at $232,000 after buying an additional 270 shares in the last quarter. Redpoint Investment Management Pty Ltd increased its position in shares of Eaton by 37.1% during the second quarter. Redpoint Investment Management Pty Ltd now owns 46,448 shares of the industrial products company’s stock worth $3,868,000 after purchasing an additional 12,576 shares in the last quarter. Grove Bank & Trust increased its position in shares of Eaton by 1.3% during the second quarter. Grove Bank & Trust now owns 9,343 shares of the industrial products company’s stock worth $778,000 after purchasing an additional 124 shares in the last quarter. Finally, Nelson Roberts Investment Advisors LLC increased its position in shares of Eaton by 0.7% during the first quarter. Nelson Roberts Investment Advisors LLC now owns 68,262 shares of the industrial products company’s stock worth $5,499,000 after purchasing an additional 495 shares in the last quarter. Institutional investors own 77.59% of the company’s stock.
Several analysts recently commented on the company. Royal Bank of Canada set a $84.00 price target on Eaton and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Deutsche Bank set a $96.00 target price on Eaton and gave the company a “buy” rating in a report on Wednesday, July 31st. Barclays reaffirmed a “sell” rating and issued a $76.00 price target on shares of Eaton in a research note on Thursday, June 6th. Morgan Stanley upped their price target on Eaton from $88.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Robert W. Baird downgraded Eaton from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $89.00 to $82.00 in a report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $87.91.
Eaton stock opened at $88.20 on Friday. Eaton Co. PLC has a fifty-two week low of $64.46 and a fifty-two week high of $89.46. The company has a market capitalization of $36.47 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.69 and a beta of 1.45. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.18 and a current ratio of 1.83. The stock has a fifty day moving average of $79.84 and a two-hundred day moving average of $80.56.
Eaton (NYSE:ETN) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $1.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.02. The firm had revenue of $5.53 billion for the quarter, compared to analysts’ expectations of $5.63 billion. Eaton had a return on equity of 14.88% and a net margin of 10.16%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.39 earnings per share. On average, analysts forecast that Eaton Co. PLC will post 5.86 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Thursday, August 1st. Eaton’s dividend payout ratio is presently 52.69%.
In related news, Director Deborah L. Mccoy sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $79.18, for a total value of $237,540.00. Following the transaction, the director now owns 29,936 shares in the company, valued at $2,370,332.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joao V. Faria sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $86.89, for a total value of $86,890.00. Following the completion of the sale, the insider now directly owns 52,841 shares of the company’s stock, valued at $4,591,354.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,592 shares of company stock worth $6,993,418. 0.70% of the stock is currently 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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