Eaton Corporation, PLC (ETN) Position Boosted by Rhumbline Advisers
Rhumbline Advisers boosted its holdings in Eaton Corporation, PLC (NYSE:ETN) by 0.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 779,539 shares of the industrial products company’s stock after buying an additional 3,338 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Eaton Corporation, PLC worth $59,861,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Cable Hill Partners LLC increased its holdings in Eaton Corporation, PLC by 174.8% in the third quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock valued at $105,000 after buying an additional 867 shares during the last quarter. Captrust Financial Advisors purchased a new position in Eaton Corporation, PLC in the second quarter valued at $133,000. Harfst & Associates Inc. increased its holdings in Eaton Corporation, PLC by 21.8% in the second quarter. Harfst & Associates Inc. now owns 1,798 shares of the industrial products company’s stock valued at $139,000 after buying an additional 322 shares during the last quarter. Acrospire Investment Management LLC increased its holdings in Eaton Corporation, PLC by 325.9% in the second quarter. Acrospire Investment Management LLC now owns 2,091 shares of the industrial products company’s stock valued at $163,000 after buying an additional 1,600 shares during the last quarter. Finally, Cambridge Trust Co. purchased a new position in Eaton Corporation, PLC in the first quarter valued at $200,000. 77.01% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Revathi Advaithi sold 23,743 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $78.36, for a total value of $1,860,501.48. Following the completion of the sale, the insider now owns 31,028 shares in the company, valued at $2,431,354.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christopher M. Connor sold 6,450 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $78.04, for a total transaction of $503,358.00. Following the completion of the sale, the director now owns 20,100 shares of the company’s stock, valued at approximately $1,568,604. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,643 shares of company stock worth $2,835,806. Corporate insiders own 0.80% of the company’s stock.
Several equities analysts recently commented on the company. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Eaton Corporation, PLC in a report on Tuesday, October 31st. Citigroup Inc. increased their target price on Eaton Corporation, PLC from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Buckingham Research assumed coverage on Eaton Corporation, PLC in a report on Tuesday, October 17th. They issued a “neutral” rating and a $82.00 target price on the stock. BidaskClub lowered Eaton Corporation, PLC from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Finally, Zacks Investment Research lowered Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $82.86.
Eaton Corporation, PLC (NYSE:ETN) traded up $0.02 during midday trading on Tuesday, hitting $77.94. The company had a trading volume of 1,393,500 shares, compared to its average volume of 2,331,495. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.43. Eaton Corporation, PLC has a 52-week low of $63.94 and a 52-week high of $82.34. The stock has a market capitalization of $34,331.55, a price-to-earnings ratio of 17.39, a P/E/G ratio of 1.92 and a beta of 1.39.
Eaton Corporation, PLC (NYSE:ETN) last released its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.25. Eaton Corporation, PLC had a return on equity of 12.89% and a net margin of 14.21%. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.12 billion. During the same quarter last year, the company posted $1.16 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. equities analysts forecast that Eaton Corporation, PLC will post 4.6 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Friday, November 3rd will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Thursday, November 2nd. Eaton Corporation, PLC’s dividend payout ratio is currently 37.68%.
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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