Eaton Co. PLC (ETN) Shares Bought by HPM Partners LLC
HPM Partners LLC increased its position in Eaton Co. PLC (NYSE:ETN) by 48.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,972 shares of the industrial products company’s stock after acquiring an additional 12,096 shares during the period. HPM Partners LLC’s holdings in Eaton were worth $2,763,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Moneta Group Investment Advisors LLC grew its holdings in shares of Eaton by 46.2% in the second quarter. Moneta Group Investment Advisors LLC now owns 13,163 shares of the industrial products company’s stock worth $984,000 after acquiring an additional 4,160 shares during the period. Waddell & Reed Financial Inc. lifted its position in Eaton by 10.0% during the second quarter. Waddell & Reed Financial Inc. now owns 1,216,772 shares of the industrial products company’s stock valued at $90,942,000 after purchasing an additional 110,659 shares in the last quarter. Centaurus Financial Inc. purchased a new position in Eaton during the second quarter valued at $147,000. Tower Research Capital LLC TRC lifted its position in Eaton by 724.4% during the second quarter. Tower Research Capital LLC TRC now owns 20,610 shares of the industrial products company’s stock valued at $1,540,000 after purchasing an additional 18,110 shares in the last quarter. Finally, Zacks Investment Management lifted its position in Eaton by 0.9% during the second quarter. Zacks Investment Management now owns 621,010 shares of the industrial products company’s stock valued at $46,414,000 after purchasing an additional 5,443 shares in the last quarter. 77.56% of the stock is owned by institutional investors.
In other news, Director Deborah L. Mccoy sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $84.55, for a total value of $253,650.00. Following the transaction, the director now directly owns 32,936 shares in the company, valued at $2,784,738.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Revathi Advaithi sold 15,500 shares of the business’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $82.98, for a total value of $1,286,190.00. Following the completion of the transaction, the insider now owns 24,715 shares in the company, valued at $2,050,850.70. The disclosure for this sale can be found here. Insiders sold 55,000 shares of company stock worth $4,617,645 over the last 90 days. Company insiders own 0.50% of the company’s stock.
Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.07. Eaton had a return on equity of 13.11% and a net margin of 14.80%. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same period in the previous year, the business earned $1.15 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. equities research analysts anticipate that Eaton Co. PLC will post 5.36 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 17th. Stockholders of record on Friday, August 3rd were given a $0.66 dividend. The ex-dividend date was Thursday, August 2nd. This represents a $2.64 annualized dividend and a dividend yield of 3.03%. Eaton’s payout ratio is 56.77%.
Several equities analysts recently weighed in on the company. Morgan Stanley assumed coverage on Eaton in a research report on Monday, August 20th. They set an “equal weight” rating and a $86.00 target price on the stock. Deutsche Bank lifted their target price on Eaton from $92.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, August 16th. JPMorgan Chase & Co. upgraded Eaton from a “neutral” rating to an “overweight” rating and set a $92.00 target price on the stock in a research report on Monday, August 13th. Zacks Investment Research downgraded Eaton from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, Wells Fargo & Co set a $92.00 target price on Eaton and gave the company a “buy” rating in a research report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $87.61.
Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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