Anchor Capital Advisors LLC Purchases 2,099 Shares of Eaton Co., PLC (ETN)
Anchor Capital Advisors LLC grew its stake in Eaton Co., PLC (NYSE:ETN) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 256,964 shares of the industrial products company’s stock after buying an additional 2,099 shares during the period. Anchor Capital Advisors LLC’s holdings in Eaton were worth $20,303,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of ETN. Sterling Capital Management LLC increased its stake in shares of Eaton by 1.6% in the second quarter. Sterling Capital Management LLC now owns 130,072 shares of the industrial products company’s stock valued at $10,124,000 after buying an additional 2,053 shares during the period. Wealthsource Partners LLC acquired a new stake in shares of Eaton in the second quarter valued at about $226,000. PGGM Investments increased its stake in shares of Eaton by 142.1% in the third quarter. PGGM Investments now owns 703,839 shares of the industrial products company’s stock valued at $54,048,000 after buying an additional 413,096 shares during the period. Foster & Motley Inc. increased its stake in shares of Eaton by 109.7% in the third quarter. Foster & Motley Inc. now owns 9,461 shares of the industrial products company’s stock valued at $727,000 after buying an additional 4,949 shares during the period. Finally, Denali Advisors LLC increased its stake in shares of Eaton by 22.9% in the third quarter. Denali Advisors LLC now owns 95,409 shares of the industrial products company’s stock valued at $7,326,000 after buying an additional 17,800 shares during the period. 76.63% of the stock is owned by institutional investors.
Several brokerages have recently weighed in on ETN. ValuEngine raised Eaton from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Jefferies Group reissued a “hold” rating and issued a $90.00 price target on shares of Eaton in a research note on Friday, February 2nd. Stifel Nicolaus raised Eaton from a “hold” rating to a “buy” rating and increased their price target for the company from $77.00 to $99.00 in a research note on Sunday, February 4th. Zacks Investment Research raised Eaton from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. Finally, UBS Group initiated coverage on Eaton in a research report on Tuesday, January 23rd. They set a “neutral” rating and a $87.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. Eaton currently has an average rating of “Hold” and a consensus target price of $86.93.
Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. The business had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.10 billion. Eaton had a return on equity of 12.84% and a net margin of 14.60%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 earnings per share. research analysts forecast that Eaton Co., PLC will post 5.14 earnings per share for the current year.
In other Eaton news, insider Curtis J. Hutchins sold 14,360 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $78.36, for a total value of $1,125,249.60. Following the transaction, the insider now owns 26,596 shares in the company, valued at $2,084,062.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles E. Golden sold 4,311 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $76.03, for a total value of $327,765.33. Following the completion of the transaction, the director now owns 20,275 shares in the company, valued at approximately $1,541,508.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,745 shares of company stock worth $2,233,669. Corporate insiders own 0.80% of the company’s stock.
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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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