Cobblestone Capital Advisors LLC NY Lowers Stake in Eaton Corporation, PLC (ETN)

Cobblestone Capital Advisors LLC NY decreased its stake in Eaton Corporation, PLC (NYSE:ETN) by 0.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 8,797 shares of the industrial products company’s stock after selling 6 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Eaton Corporation, PLC were worth $685,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Legacy Capital Partners Inc. boosted its stake in shares of Eaton Corporation, PLC by 8.2% in the second quarter. Legacy Capital Partners Inc. now owns 33,124 shares of the industrial products company’s stock valued at $2,578,000 after buying an additional 2,514 shares in the last quarter. Endurance Wealth Management Inc. boosted its stake in shares of Eaton Corporation, PLC by 11.5% in the second quarter. Endurance Wealth Management Inc. now owns 16,483 shares of the industrial products company’s stock valued at $1,283,000 after buying an additional 1,700 shares in the last quarter. Callahan Advisors LLC boosted its stake in shares of Eaton Corporation, PLC by 0.6% in the second quarter. Callahan Advisors LLC now owns 12,132 shares of the industrial products company’s stock valued at $944,000 after buying an additional 75 shares in the last quarter. Foster & Motley Inc. acquired a new stake in shares of Eaton Corporation, PLC during the second quarter valued at about $351,000. Finally, Sumitomo Life Insurance Co. boosted its stake in shares of Eaton Corporation, PLC by 21.0% in the second quarter. Sumitomo Life Insurance Co. now owns 44,198 shares of the industrial products company’s stock valued at $3,440,000 after buying an additional 7,665 shares in the last quarter. 76.78% of the stock is currently owned by institutional investors and hedge funds.

Shares of Eaton Corporation, PLC (NYSE:ETN) traded up 0.83% during trading on Tuesday, reaching $71.73. 386,358 shares of the company’s stock traded hands. The stock has a market capitalization of $31.91 billion, a PE ratio of 16.44 and a beta of 1.35. Eaton Corporation, PLC has a 1-year low of $59.07 and a 1-year high of $81.63. The company has a 50 day moving average price of $76.57 and a 200 day moving average price of $75.14.

Eaton Corporation, PLC (NYSE:ETN) last issued its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $1.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.16 by $0.01. Eaton Corporation, PLC had a net margin of 9.95% and a return on equity of 12.93%. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter last year, the firm posted $1.07 earnings per share. Eaton Corporation, PLC’s revenue was up 1.0% compared to the same quarter last year. On average, equities analysts forecast that Eaton Corporation, PLC will post $4.61 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Friday, August 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.37%. Eaton Corporation, PLC’s dividend payout ratio (DPR) is 54.79%.

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Several analysts have recently issued reports on the stock. J P Morgan Chase & Co cut shares of Eaton Corporation, PLC from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $73.00 to $70.00 in a research report on Thursday, August 17th. BidaskClub cut shares of Eaton Corporation, PLC from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Zacks Investment Research cut shares of Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Royal Bank Of Canada reissued a “hold” rating and set a $78.00 price target on shares of Eaton Corporation, PLC in a research report on Wednesday, July 12th. Finally, Wolfe Research assumed coverage on shares of Eaton Corporation, PLC in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $78.54.

Eaton Corporation, 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.

Institutional Ownership by Quarter for Eaton Corporation, PLC (NYSE:ETN)

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