Victory Capital Management Inc. raised its stake in shares of Eaton Corporation, PLC (NYSE:ETN) by 17.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,177 shares of the industrial products company’s stock after buying an additional 13,476 shares during the period. Victory Capital Management Inc.’s holdings in Eaton Corporation, PLC were worth $6,834,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Gamco Investors INC. ET AL raised its stake in Eaton Corporation, PLC by 12.4% in the fourth quarter. Gamco Investors INC. ET AL now owns 3,438 shares of the industrial products company’s stock valued at $231,000 after buying an additional 380 shares in the last quarter. Silvercrest Asset Management Group LLC raised its stake in Eaton Corporation, PLC by 1.9% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 416,925 shares of the industrial products company’s stock valued at $27,971,000 after buying an additional 7,934 shares in the last quarter. Foresters Investment Management Company Inc. raised its stake in Eaton Corporation, PLC by 18.2% in the fourth quarter. Foresters Investment Management Company Inc. now owns 77,400 shares of the industrial products company’s stock valued at $5,283,000 after buying an additional 11,900 shares in the last quarter. Cigna Investments Inc. New acquired a new stake in Eaton Corporation, PLC during the fourth quarter valued at approximately $1,113,000. Finally, Lincoln Capital Corp acquired a new stake in Eaton Corporation, PLC during the fourth quarter valued at approximately $512,000. Institutional investors and hedge funds own 76.36% of the company’s stock.

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

Eaton Corporation, PLC (ETN) opened at 78.07 on Tuesday. The firm has a market cap of $34.92 billion, a price-to-earnings ratio of 18.19 and a beta of 1.27. Eaton Corporation, PLC has a 52 week low of $54.30 and a 52 week high of $79.31. The firm’s 50-day moving average is $76.78 and its 200-day moving average is $72.64.

Eaton Corporation, PLC (NYSE:ETN) last released its quarterly earnings data on Tuesday, May 2nd. The industrial products company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. Eaton Corporation, PLC had a net margin of 9.86% and a return on equity of 12.82%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter last year, the company earned $0.88 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts anticipate that Eaton Corporation, PLC will post $4.64 earnings per share for the current year.

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ETN has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Tuesday, February 21st. Royal Bank Of Canada reiterated a “hold” rating and set a $73.00 price objective on shares of Eaton Corporation, PLC in a research note on Sunday, March 12th. Credit Suisse Group reiterated a “buy” rating on shares of Eaton Corporation, PLC in a research note on Tuesday, March 28th. Citigroup Inc. boosted their price objective on shares of Eaton Corporation, PLC from $80.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, April 3rd. Finally, Longbow Research upgraded shares of Eaton Corporation, PLC from a “neutral” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Tuesday, April 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $77.00.

In other news, insider Uday Yadav sold 3,034 shares of Eaton Corporation, PLC stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $76.08, for a total value of $230,826.72. Following the transaction, the insider now directly owns 22,601 shares of the company’s stock, valued at approximately $1,719,484.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard H. Fearon sold 25,000 shares of Eaton Corporation, PLC stock in a transaction on Friday, May 5th. The shares were sold at an average price of $76.24, for a total transaction of $1,906,000.00. Following the completion of the transaction, the insider now directly owns 236,497 shares in the company, valued at $18,030,531.28. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.

About Eaton Corporation, 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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