Zeke Capital Advisors LLC Has $523,000 Position in Eaton Corporation, PLC (ETN)
Zeke Capital Advisors LLC boosted its position in Eaton Corporation, PLC (NYSE:ETN) by 111.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,810 shares of the industrial products company’s stock after acquiring an additional 3,591 shares during the quarter. Zeke Capital Advisors LLC’s holdings in Eaton were worth $523,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of ETN. Schroder Investment Management Group raised its holdings in Eaton by 24.4% in the second quarter. Schroder Investment Management Group now owns 3,262,517 shares of the industrial products company’s stock valued at $250,007,000 after acquiring an additional 640,198 shares in the last quarter. PGGM Investments raised its holdings in Eaton by 142.1% during the third quarter. PGGM Investments now owns 703,839 shares of the industrial products company’s stock worth $54,048,000 after purchasing an additional 413,096 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Eaton by 91.8% during the third quarter. Canada Pension Plan Investment Board now owns 375,869 shares of the industrial products company’s stock worth $28,863,000 after purchasing an additional 179,900 shares in the last quarter. Systematic Financial Management LP acquired a new stake in Eaton during the second quarter worth approximately $9,895,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Eaton during the third quarter worth approximately $3,015,000. 76.65% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Charles E. Golden sold 4,311 shares of Eaton stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $76.03, for a total value of $327,765.33. Following the transaction, the director now directly owns 20,275 shares in the company, valued at approximately $1,541,508.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Deborah L. Mccoy sold 6,450 shares of Eaton stock in a transaction on Monday, September 11th. The shares were 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 owns 46,386 shares in the company, valued at $3,394,063.62. The disclosure for this sale can be found here. Insiders sold a total of 40,954 shares of company stock worth $3,163,571 over the last ninety days. Corporate insiders own 0.80% of the company’s stock.
Eaton Corporation, PLC (NYSE ETN) opened at $76.84 on Thursday. The company has a market cap of $33,860.11, a price-to-earnings ratio of 17.15, a PEG ratio of 1.98 and a beta of 1.39. Eaton Corporation, PLC has a 1-year low of $65.35 and a 1-year 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 (NYSE:ETN) last announced its earnings results on Tuesday, October 31st. The industrial products company reported $1.25 EPS for the quarter, meeting analysts’ consensus estimates of $1.25. The business had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.12 billion. Eaton had a net margin of 14.21% and a return on equity of 12.89%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 EPS. analysts predict that Eaton Corporation, PLC will post 4.6 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Friday, November 3rd were issued a $0.60 dividend. The ex-dividend date was Thursday, November 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.12%. Eaton’s payout ratio is 37.68%.
A number of analysts have weighed in on ETN shares. Citigroup raised their price objective on shares of Eaton from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Credit Suisse Group reissued an “outperform” rating and set a $92.00 price objective (up previously from $86.00) on shares of Eaton in a report on Wednesday, November 1st. Buckingham Research started coverage on shares of Eaton in a report on Tuesday, October 17th. They set a “neutral” rating and a $82.00 price objective on the stock. Oppenheimer reissued a “hold” rating on shares of Eaton in a report on Tuesday, October 31st. Finally, Stifel Nicolaus reissued a “hold” rating and set a $85.00 price objective on shares of Eaton in a report on Friday, November 3rd. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $82.86.
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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