Miller Howard Investments Inc. NY lowered its position in shares of Eaton Corporation, PLC (NYSE:ETN) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 786,115 shares of the industrial products company’s stock after selling 28,900 shares during the period. Miller Howard Investments Inc. NY owned 0.18% of Eaton Corporation, PLC worth $61,183,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. raised its position in shares of Eaton Corporation, PLC by 1.2% in the second quarter. Whittier Trust Co. now owns 183,757 shares of the industrial products company’s stock valued at $14,301,000 after buying an additional 2,145 shares during the period. Highland Capital Management LLC raised its position in shares of Eaton Corporation, PLC by 1.3% in the second quarter. Highland Capital Management LLC now owns 72,940 shares of the industrial products company’s stock valued at $5,677,000 after buying an additional 940 shares during the period. Aperio Group LLC raised its position in Eaton Corporation, PLC by 10.2% in the second quarter. Aperio Group LLC now owns 318,727 shares of the industrial products company’s stock worth $24,806,000 after buying an additional 29,509 shares during the last quarter. Smithbridge Asset Management Inc. DE bought a new position in Eaton Corporation, PLC during the second quarter worth approximately $224,000. Finally, Regent Investment Management LLC raised its position in Eaton Corporation, PLC by 5.1% in the second quarter. Regent Investment Management LLC now owns 7,485 shares of the industrial products company’s stock worth $582,000 after buying an additional 366 shares during the last quarter. 76.59% of the stock is owned by institutional investors and hedge funds.
Shares of Eaton Corporation, PLC (NYSE ETN) opened at 71.48 on Friday. The firm’s 50-day moving average is $77.44 and its 200-day moving average is $75.02. The stock has a market capitalization of $31.79 billion, a price-to-earnings ratio of 16.39 and a beta of 1.35. Eaton Corporation, PLC has a 52 week low of $59.07 and a 52 week high of $81.63.
Eaton Corporation, PLC (NYSE:ETN) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by $0.01. The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Eaton Corporation, PLC had a net margin of 9.95% and a return on equity of 12.93%. Eaton Corporation, PLC’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm posted $1.07 earnings per share. Analysts forecast that Eaton Corporation, PLC will post $4.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Friday, August 4th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Wednesday, August 2nd. Eaton Corporation, PLC’s payout ratio is currently 54.79%.
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A number of equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research report on Friday, May 26th. Stifel Nicolaus reiterated a “hold” rating and issued a $80.00 price objective on shares of Eaton Corporation, PLC in a research report on Friday, July 7th. Wolfe Research initiated coverage on Eaton Corporation, PLC in a research report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Royal Bank Of Canada restated a “hold” rating and set a $78.00 price target on shares of Eaton Corporation, PLC in a research report on Wednesday, July 12th. Finally, Argus restated a “buy” rating and set a $85.00 price target (up previously from $83.00) on shares of Eaton Corporation, PLC in a research report on Tuesday, May 30th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $78.54.
Eaton Corporation, 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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