Private Portfolio Partners LLC increased its position in Eaton Co. PLC (NYSE:ETN) by 15.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,231 shares of the industrial products company’s stock after purchasing an additional 430 shares during the quarter. Private Portfolio Partners LLC’s holdings in Eaton were worth $269,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Eaton by 1.4% in the second quarter. Vanguard Group Inc. now owns 33,329,894 shares of the industrial products company’s stock worth $2,775,713,000 after purchasing an additional 458,692 shares in the last quarter. BlackRock Inc. boosted its position in Eaton by 1.1% during the 2nd quarter. BlackRock Inc. now owns 30,504,507 shares of the industrial products company’s stock valued at $2,540,415,000 after acquiring an additional 341,830 shares in the last quarter. Northern Trust Corp boosted its position in Eaton by 0.4% during the 2nd quarter. Northern Trust Corp now owns 6,090,154 shares of the industrial products company’s stock valued at $507,188,000 after acquiring an additional 25,664 shares in the last quarter. Invesco Ltd. boosted its position in Eaton by 28.1% during the 2nd quarter. Invesco Ltd. now owns 5,815,463 shares of the industrial products company’s stock valued at $484,312,000 after acquiring an additional 1,276,325 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Eaton by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 5,457,569 shares of the industrial products company’s stock valued at $374,165,000 after acquiring an additional 288,837 shares in the last quarter. 77.40% of the stock is currently owned by institutional investors.
In other news, insider Richard H. Fearon sold 80,592 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $82.75, for a total transaction of $6,668,988.00. Following the completion of the sale, the insider now owns 270,097 shares in the company, valued at approximately $22,350,526.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joao V. Faria sold 1,000 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $86.89, for a total value of $86,890.00. Following the sale, the insider now owns 52,841 shares of the company’s stock, valued at approximately $4,591,354.49. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,592 shares of company stock valued at $8,501,148. Company insiders own 0.70% of the company’s stock.
Shares of ETN traded down $0.62 during midday trading on Wednesday, hitting $85.48. 13,851 shares of the company’s stock traded hands, compared to its average volume of 2,135,274. Eaton Co. PLC has a 1 year low of $64.46 and a 1 year high of $89.46. The firm’s fifty day moving average is $80.37 and its 200-day moving average is $80.72. The company has a current ratio of 1.83, a quick ratio of 1.18 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $35.58 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44.
Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. Eaton had a return on equity of 14.88% and a net margin of 10.16%. The firm had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.63 billion. During the same quarter in the prior year, the business posted $1.39 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts anticipate that Eaton Co. PLC will post 5.86 EPS for the current year.
Several analysts have issued reports on ETN shares. Robert W. Baird cut Eaton from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $89.00 to $82.00 in a research report on Tuesday, September 3rd. Deutsche Bank set a $96.00 target price on Eaton and gave the company a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada set a $84.00 target price on Eaton and gave the company a “hold” rating in a research report on Wednesday, July 31st. Morgan Stanley increased their target price on Eaton from $88.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Barclays reaffirmed a “sell” rating and set a $76.00 target price on shares of Eaton in a research report on Thursday, June 6th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $87.91.
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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