Oregon Public Employees Retirement Fund Lowers Position in Eaton Corp. PLC (ETN)
Oregon Public Employees Retirement Fund cut its position in shares of Eaton Corp. PLC (NYSE:ETN) by 46.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 47,070 shares of the company’s stock after selling 40,558 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Eaton Corp. PLC were worth $3,093,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of ETN. Emerald Acquisition Ltd. purchased a new stake in shares of Eaton Corp. PLC during the second quarter worth about $55,112,000. Prudential Financial Inc. boosted its stake in shares of Eaton Corp. PLC by 35.0% in the second quarter. Prudential Financial Inc. now owns 2,776,794 shares of the company’s stock worth $165,858,000 after buying an additional 720,545 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Eaton Corp. PLC by 2.1% in the second quarter. Vanguard Group Inc. now owns 27,938,793 shares of the company’s stock worth $1,668,784,000 after buying an additional 571,217 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Eaton Corp. PLC by 6.3% in the second quarter. BlackRock Fund Advisors now owns 9,085,759 shares of the company’s stock worth $542,692,000 after buying an additional 535,659 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Eaton Corp. PLC by 4.7% in the second quarter. FMR LLC now owns 10,010,455 shares of the company’s stock worth $597,924,000 after buying an additional 447,172 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.
Eaton Corp. PLC (NYSE:ETN) traded down 0.44% during trading on Tuesday, hitting $65.69. 2,779,295 shares of the stock traded hands. Eaton Corp. PLC has a 12 month low of $46.19 and a 12 month high of $68.95. The company has a 50-day moving average price of $64.07 and a 200-day moving average price of $63.59. The stock has a market cap of $29.67 billion, a PE ratio of 15.52 and a beta of 1.36.
Eaton Corp. PLC (NYSE:ETN) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.15. Eaton Corp. PLC had a net margin of 9.78% and a return on equity of 12.73%. The company had revenue of $5 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities research analysts expect that Eaton Corp. PLC will post $4.20 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were paid a dividend of $0.57 per share. The ex-dividend date was Thursday, November 3rd. This represents a $2.28 annualized dividend and a yield of 3.47%. Eaton Corp. PLC’s dividend payout ratio is currently 53.65%.
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Several research analysts have weighed in on ETN shares. Argus raised shares of Eaton Corp. PLC from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, August 10th. They noted that the move was a valuation call. HSBC started coverage on shares of Eaton Corp. PLC in a report on Friday, October 7th. They issued a “buy” rating and a $74.00 price target on the stock. Deutsche Bank AG reissued a “hold” rating and issued a $65.00 price target on shares of Eaton Corp. PLC in a report on Thursday, August 25th. Jefferies Group reissued a “hold” rating on shares of Eaton Corp. PLC in a report on Friday, August 5th. Finally, Royal Bank Of Canada lowered their price target on shares of Eaton Corp. PLC from $68.00 to $65.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 2nd. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $64.37.
In related news, Director Michael J. Critelli sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $64.26, for a total transaction of $835,380.00. Following the completion of the transaction, the director now owns 70,566 shares of the company’s stock, valued at $4,534,571.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Revathi Advaithi sold 39,008 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $64.16, for a total transaction of $2,502,753.28. Following the transaction, the insider now directly owns 71,397 shares of the company’s stock, valued at approximately $4,580,831.52. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.
About Eaton Corp. PLC
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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