Smithfield Trust Co. Buys 837 Shares of Eaton Corporation, PLC (ETN)
Smithfield Trust Co. grew its stake in shares of Eaton Corporation, PLC (NYSE:ETN) by 6.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,152 shares of the industrial products company’s stock after purchasing an additional 837 shares during the quarter. Smithfield Trust Co.’s holdings in Eaton Corporation, PLC were worth $1,009,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of ETN. Cable Hill Partners LLC lifted its stake in shares of Eaton Corporation, PLC by 174.8% during the third quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 867 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of Eaton Corporation, PLC during the second quarter worth about $133,000. Harfst & Associates Inc. increased its position in shares of Eaton Corporation, PLC by 21.8% during the second quarter. Harfst & Associates Inc. now owns 1,798 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 322 shares during the last quarter. Acrospire Investment Management LLC increased its position in shares of Eaton Corporation, PLC by 325.9% during the second quarter. Acrospire Investment Management LLC now owns 2,091 shares of the industrial products company’s stock worth $163,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Kernodle & Katon Asset Management Group LLC increased its position in shares of Eaton Corporation, PLC by 47.0% during the first quarter. Kernodle & Katon Asset Management Group LLC now owns 2,348 shares of the industrial products company’s stock worth $174,000 after acquiring an additional 751 shares during the last quarter. Institutional investors own 76.78% of the company’s stock.
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Eaton Corporation, PLC (NYSE:ETN) traded down $0.55 during trading hours on Thursday, hitting $78.50. The stock had a trading volume of 1,190,000 shares, compared to its average volume of 2,490,000. The company has a market capitalization of $34,830.00, a price-to-earnings ratio of 17.56, a PEG ratio of 1.94 and a beta of 1.39. Eaton Corporation, PLC has a 52 week low of $62.59 and a 52 week high of $82.34. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.43 and a quick ratio of 1.02.
Eaton Corporation, PLC (NYSE:ETN) last posted its earnings results on Tuesday, October 31st. The industrial products company reported $1.25 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.25. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.12 billion. Eaton Corporation, PLC had a return on equity of 12.89% and a net margin of 14.21%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 earnings per share. sell-side analysts forecast that Eaton Corporation, PLC will post 4.6 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Friday, November 3rd will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Thursday, November 2nd. Eaton Corporation, PLC’s dividend payout ratio (DPR) is presently 55.05%.
A number of brokerages have recently issued reports on ETN. BidaskClub lowered Eaton Corporation, PLC from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. ValuEngine raised Eaton Corporation, PLC from a “hold” rating to a “buy” rating in a research report on Friday, September 15th. Jefferies Group LLC lifted their target price on Eaton Corporation, PLC from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Wednesday, November 1st. J P Morgan Chase & Co lowered Eaton Corporation, PLC from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $73.00 to $70.00 in a research report on Thursday, August 17th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $78.00 target price on shares of Eaton Corporation, PLC in a research report on Wednesday, July 12th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $82.86.
In other news, Director Deborah L. Mccoy sold 6,450 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $73.17, for a total transaction of $471,946.50. Following the completion of the transaction, the director now directly owns 46,386 shares of the company’s stock, valued at $3,394,063.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.80% of the stock is currently owned by corporate insiders.
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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