Murphy Capital Management Inc. Invests $221,000 in Eaton Co. PLC (ETN)

Murphy Capital Management Inc. acquired a new position in shares of Eaton Co. PLC (NYSE:ETN) during the 3rd quarter, HoldingsChannel reports. The fund acquired 2,550 shares of the industrial products company’s stock, valued at approximately $221,000.

Several other hedge funds also recently made changes to their positions in ETN. Manning & Napier Group LLC increased its position in Eaton by 7.4% during the 3rd quarter. Manning & Napier Group LLC now owns 99,967 shares of the industrial products company’s stock worth $8,669,000 after purchasing an additional 6,864 shares in the last quarter. Factory Mutual Insurance Co. increased its position in Eaton by 3.0% during the 3rd quarter. Factory Mutual Insurance Co. now owns 632,856 shares of the industrial products company’s stock worth $54,888,000 after purchasing an additional 18,700 shares in the last quarter. Farmers Trust Co. increased its position in Eaton by 507.7% during the 3rd quarter. Farmers Trust Co. now owns 46,000 shares of the industrial products company’s stock worth $3,990,000 after purchasing an additional 38,430 shares in the last quarter. Nelson Roberts Investment Advisors LLC increased its position in Eaton by 1.6% during the 3rd quarter. Nelson Roberts Investment Advisors LLC now owns 70,242 shares of the industrial products company’s stock worth $6,092,000 after purchasing an additional 1,092 shares in the last quarter. Finally, Boenning & Scattergood Inc. increased its position in Eaton by 13.9% during the 3rd quarter. Boenning & Scattergood Inc. now owns 6,543 shares of the industrial products company’s stock worth $568,000 after purchasing an additional 799 shares in the last quarter. Institutional investors and hedge funds own 77.54% of the company’s stock.

Shares of NYSE:ETN opened at $79.77 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.47 and a quick ratio of 0.96. Eaton Co. PLC has a 52-week low of $71.62 and a 52-week high of $89.85. The company has a market capitalization of $37.58 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.58 and a beta of 1.35.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter last year, the company earned $1.15 earnings per share. Eaton’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts anticipate that Eaton Co. PLC will post 5.36 EPS for the current fiscal year.

In other Eaton news, Director Deborah L. Mccoy sold 3,000 shares of the stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $84.55, for a total value of $253,650.00. Following the completion of the sale, the director now owns 32,936 shares of the company’s stock, valued at $2,784,738.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Revathi Advaithi sold 15,500 shares of the stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $82.98, for a total transaction of $1,286,190.00. Following the completion of the sale, the insider now directly owns 24,715 shares of the company’s stock, valued at approximately $2,050,850.70. The disclosure for this sale can be found here. Insiders sold 55,000 shares of company stock valued at $4,617,645 in the last ninety days. 0.50% of the stock is owned by corporate insiders.

ETN has been the subject of a number of research analyst reports. UBS Group raised shares of Eaton from a “neutral” rating to a “buy” rating and increased their target price for the stock from $91.00 to $100.00 in a research report on Friday, September 21st. 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 target price for the company in a research report on Monday, August 6th. Credit Suisse Group initiated coverage on shares of Eaton in a research report on Friday. They set an “outperform” rating and a $91.00 target price for the company. Finally, Deutsche Bank increased their target price on shares of Eaton from $95.00 to $102.00 and gave the stock a “buy” rating in a research report on Friday, September 28th. Two equities research analysts have rated the stock with a sell rating, six have given 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 $88.67.

About Eaton

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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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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