GABELLI & Co INVESTMENT ADVISERS INC. maintained its position in Eaton Corporation, PLC (NYSE:ETN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,900 shares of the industrial products company’s stock at the end of the second quarter. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Eaton Corporation, PLC were worth $615,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ETN. Bank of America Corp DE raised its position in Eaton Corporation, PLC by 17.0% in the first quarter. Bank of America Corp DE now owns 6,407,605 shares of the industrial products company’s stock worth $475,123,000 after buying an additional 932,400 shares in the last quarter. Vanguard Group Inc. raised its position in Eaton Corporation, PLC by 2.3% in the first quarter. Vanguard Group Inc. now owns 30,348,561 shares of the industrial products company’s stock worth $2,250,347,000 after buying an additional 695,285 shares in the last quarter. UBS Group AG raised its position in Eaton Corporation, PLC by 1.6% in the first quarter. UBS Group AG now owns 1,810,784 shares of the industrial products company’s stock worth $134,270,000 after buying an additional 28,426 shares in the last quarter. Lazard Asset Management LLC raised its position in Eaton Corporation, PLC by 8.2% in the first quarter. Lazard Asset Management LLC now owns 5,849,259 shares of the industrial products company’s stock worth $433,722,000 after buying an additional 443,090 shares in the last quarter. Finally, Bancorpsouth Inc. raised its position in Eaton Corporation, PLC by 3.2% in the first quarter. Bancorpsouth Inc. now owns 36,797 shares of the industrial products company’s stock worth $2,728,000 after buying an additional 1,149 shares in the last quarter. 76.78% of the stock is currently owned by institutional investors.

Shares of Eaton Corporation, PLC (NYSE:ETN) opened at 71.72 on Friday. The company has a market cap of $31.90 billion, a P/E ratio of 16.44 and a beta of 1.35. The stock’s 50 day moving average price is $76.92 and its 200 day moving average price is $75.07. Eaton Corporation, PLC has a 12-month low of $59.07 and a 12-month high of $81.63.

Eaton Corporation, PLC (NYSE:ETN) last released its earnings results 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 firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Eaton Corporation, PLC had a net margin of 9.95% and a return on equity of 12.93%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.07 EPS. On average, analysts forecast that Eaton Corporation, PLC will post $4.61 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Friday, August 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Wednesday, August 2nd. Eaton Corporation, PLC’s payout ratio is presently 54.79%.

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ETN has been the topic of a number of recent analyst reports. Barclays PLC set a $81.00 price objective on Eaton Corporation, PLC and gave the stock a “hold” rating in a research note on Tuesday, May 2nd. Wolfe Research initiated coverage on Eaton Corporation, PLC in a report on Tuesday, July 11th. They issued a “market perform” rating for the company. Zacks Investment Research upgraded Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a report on Wednesday, July 5th. BidaskClub downgraded Eaton Corporation, PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, JMP Securities initiated coverage on Eaton Corporation, PLC in a report on Monday, June 19th. They issued a “market perform” rating for the company. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. Eaton Corporation, PLC currently has an average rating of “Hold” and a consensus 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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Institutional Ownership by Quarter for Eaton Corporation, PLC (NYSE:ETN)

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