TD Asset Management Inc. Has $27,680,000 Position in Eaton Corp. PLC (ETN)
TD Asset Management Inc. raised its stake in Eaton Corp. PLC (NYSE:ETN) by 5.8% during the third quarter, Holdings Channel reports. The fund owned 421,242 shares of the company’s stock after buying an additional 23,219 shares during the period. TD Asset Management Inc.’s holdings in Eaton Corp. PLC were worth $27,680,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of ETN. CHURCHILL MANAGEMENT Corp boosted its stake in Eaton Corp. PLC by 19.5% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 179,659 shares of the company’s stock valued at $10,731,000 after buying an additional 29,318 shares during the last quarter. Washington Trust Bank boosted its stake in shares of Eaton Corp. PLC by 5.7% in the second quarter. Washington Trust Bank now owns 3,344 shares of the company’s stock worth $200,000 after buying an additional 180 shares in the last quarter. NEXT Financial Group Inc boosted its stake in shares of Eaton Corp. PLC by 2.8% in the second quarter. NEXT Financial Group Inc now owns 4,657 shares of the company’s stock worth $278,000 after buying an additional 128 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of Eaton Corp. PLC by 4.7% in the second quarter. Raymond James Trust N.A. now owns 25,468 shares of the company’s stock worth $1,521,000 after buying an additional 1,139 shares in the last quarter. Finally, Patten & Patten Inc. TN boosted its stake in shares of Eaton Corp. PLC by 0.5% in the second quarter. Patten & Patten Inc. TN now owns 25,891 shares of the company’s stock worth $1,546,000 after buying an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.
Shares of Eaton Corp. PLC (NYSE:ETN) traded up 1.717% during mid-day trading on Wednesday, hitting $66.818. The stock had a trading volume of 419,343 shares. The company 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 firm has a market cap of $30.18 billion, a P/E ratio of 15.789 and a beta of 1.36.
Eaton Corp. PLC (NYSE:ETN) last posted its earnings results on Tuesday, November 1st. The company reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. Eaton Corp. PLC had a return on equity of 12.73% and a net margin of 9.78%. The firm had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period last year, the firm earned $0.96 EPS. The firm’s revenue was down 4.2% compared to the same quarter last year. Equities analysts forecast that Eaton Corp. PLC will post $4.20 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.47%. The ex-dividend date was Thursday, November 3rd. Eaton Corp. PLC’s dividend payout ratio is currently 53.65%.
A number of equities research analysts have weighed in on ETN shares. Argus upgraded Eaton Corp. PLC from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, August 10th. They noted that the move was a valuation call. HSBC started coverage on Eaton Corp. PLC in a research note on Friday, October 7th. They issued a “buy” rating and a $74.00 price objective for the company. Deutsche Bank AG reiterated a “hold” rating and issued a $65.00 price objective on shares of Eaton Corp. PLC in a research note on Thursday, August 25th. Jefferies Group reiterated a “hold” rating on shares of Eaton Corp. PLC in a research note on Friday, August 5th. Finally, Royal Bank Of Canada reduced their price objective on Eaton Corp. PLC from $68.00 to $65.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 2nd. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $64.37.
In other news, insider Revathi Advaithi sold 39,008 shares of Eaton Corp. PLC stock in a transaction on Friday, November 18th. The stock was sold at an average price of $64.16, for a total transaction of $2,502,753.28. Following the transaction, the insider now directly owns 71,397 shares in the company, valued at approximately $4,580,831.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Deborah L. Mccoy sold 6,504 shares of Eaton Corp. PLC stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $66.34, for a total value of $431,475.36. Following the transaction, the director now owns 51,440 shares in the company, valued at $3,412,529.60. The disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.
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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