Aperio Group LLC increased its position in Eaton Corporation, PLC (NYSE:ETN) by 10.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 318,727 shares of the industrial products company’s stock after buying an additional 29,509 shares during the period. Aperio Group LLC owned 0.07% of Eaton Corporation, PLC worth $24,806,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Lincoln Capital Corp acquired a new stake in Eaton Corporation, PLC during the fourth quarter worth $512,000. Pekin Singer Strauss Asset Management IL raised its stake in Eaton Corporation, PLC by 2.4% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 25,987 shares of the industrial products company’s stock worth $1,743,000 after buying an additional 600 shares during the last quarter. HighPoint Advisor Group LLC raised its stake in Eaton Corporation, PLC by 130.4% in the fourth quarter. HighPoint Advisor Group LLC now owns 8,796 shares of the industrial products company’s stock worth $644,000 after buying an additional 4,978 shares during the last quarter. Whalerock Point Partners LLC raised its stake in Eaton Corporation, PLC by 11.4% in the fourth quarter. Whalerock Point Partners LLC now owns 11,725 shares of the industrial products company’s stock worth $787,000 after buying an additional 1,200 shares during the last quarter. Finally, Kentucky Retirement Systems acquired a new stake in Eaton Corporation, PLC during the fourth quarter worth $2,199,000. Institutional investors own 76.59% of the company’s stock.
Shares of Eaton Corporation, PLC (ETN) traded down 0.24% during midday trading on Friday, reaching $71.48. The company’s stock had a trading volume of 1,294,693 shares. Eaton Corporation, PLC has a 52 week low of $59.07 and a 52 week high of $81.63. The firm has a market capitalization of $31.79 billion, a price-to-earnings ratio of 16.39 and a beta of 1.35. The firm’s 50 day moving average is $77.44 and its 200 day moving average is $75.02.
Eaton Corporation, PLC (NYSE:ETN) last issued its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $1.15 EPS for the quarter, missing the Zacks’ consensus estimate of $1.16 by $0.01. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.14 billion. Eaton Corporation, PLC had a return on equity of 12.93% and a net margin of 9.95%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.07 EPS. Equities analysts forecast that Eaton Corporation, PLC will post $4.61 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Friday, August 4th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Wednesday, August 2nd. Eaton Corporation, PLC’s dividend payout ratio (DPR) is 54.79%.
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Several brokerages have recently commented on ETN. Royal Bank Of Canada restated a “hold” rating and set a $78.00 price target on shares of Eaton Corporation, PLC in a research note on Wednesday, July 12th. Wolfe Research assumed coverage on Eaton Corporation, PLC in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. Stifel Nicolaus reissued a “hold” rating and issued a $80.00 price target on shares of Eaton Corporation, PLC in a report on Friday, July 7th. BidaskClub downgraded Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Zacks Investment Research downgraded Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price 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.
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