Eaton Corp. PLC (ETN) Position Decreased by Swiss National Bank
Swiss National Bank lowered its stake in shares of Eaton Corp. PLC (NYSE:ETN) by 1.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,269,978 shares of the company’s stock after selling 16,200 shares during the period. Swiss National Bank’s holdings in Eaton Corp. PLC were worth $83,450,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in ETN. Panagora Asset Management Inc. boosted its position in shares of Eaton Corp. PLC by 477.8% in the first quarter. Panagora Asset Management Inc. now owns 106,882 shares of the company’s stock valued at $6,687,000 after buying an additional 88,383 shares during the last quarter. Babson Capital Management LLC boosted its position in shares of Eaton Corp. PLC by 244.0% in the first quarter. Babson Capital Management LLC now owns 20,020 shares of the company’s stock valued at $1,252,000 after buying an additional 14,200 shares during the last quarter. Euclid Advisors LLC bought a new position in shares of Eaton Corp. PLC during the first quarter valued at about $1,593,000. First Republic Investment Management Inc. boosted its position in shares of Eaton Corp. PLC by 79.4% in the first quarter. First Republic Investment Management Inc. now owns 76,612 shares of the company’s stock valued at $4,793,000 after buying an additional 33,912 shares during the last quarter. Finally, Summit Financial Wealth Advisors LLC boosted its position in shares of Eaton Corp. PLC by 44.4% in the second quarter. Summit Financial Wealth Advisors LLC now owns 15,524 shares of the company’s stock valued at $927,000 after buying an additional 4,775 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.
Eaton Corp. PLC (NYSE:ETN) opened at 66.51 on Thursday. The stock has a 50 day moving average price of $64.07 and a 200-day moving average price of $63.59. Eaton Corp. PLC has a 12-month low of $46.19 and a 12-month high of $68.95. The stock has a market capitalization of $30.04 billion, a PE ratio of 15.72 and a beta of 1.36.
Eaton Corp. PLC (NYSE:ETN) last released its earnings results on Tuesday, November 1st. The company reported $1.15 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.15. The company had revenue of $5 billion for the quarter, compared to the consensus estimate of $5.05 billion. Eaton Corp. PLC had a return on equity of 12.73% and a net margin of 9.78%. Eaton Corp. PLC’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 earnings per share. On average, equities analysts anticipate that Eaton Corp. PLC will post $4.20 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $2.28 annualized dividend and a yield of 3.43%. Eaton Corp. PLC’s dividend payout ratio (DPR) is presently 53.65%.
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ETN has been the topic of several analyst reports. Barclays PLC lifted their target price on Eaton Corp. PLC from $67.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 3rd. Jefferies Group reissued a “hold” rating on shares of Eaton Corp. PLC in a research report on Friday, August 5th. Argus raised Eaton Corp. PLC from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Wednesday, August 10th. They noted that the move was a valuation call. Deutsche Bank AG reissued a “hold” rating and issued a $65.00 price objective on shares of Eaton Corp. PLC in a research report on Thursday, August 25th. Finally, HSBC assumed coverage on Eaton Corp. PLC in a research report on Friday, October 7th. They issued a “buy” rating and a $74.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $64.37.
In related news, Director Charles E. Golden sold 14,626 shares of Eaton Corp. PLC stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $67.96, for a total transaction of $993,982.96. Following the transaction, the director now directly owns 15,964 shares in the company, valued at $1,084,913.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard H. Fearon sold 20,000 shares of Eaton Corp. PLC stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $68.11, for a total value of $1,362,200.00. Following the transaction, the insider now owns 254,856 shares in the company, valued at $17,358,242.16. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.
Eaton Corp. PLC Company Profile
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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