Wambolt & Associates LLC boosted its holdings in Eaton Co. PLC (NYSE:ETN) by 24.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,314 shares of the industrial products company’s stock after buying an additional 1,253 shares during the quarter. Wambolt & Associates LLC’s holdings in Eaton were worth $526,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Comerica Securities Inc. boosted its holdings in Eaton by 7.6% in the fourth quarter. Comerica Securities Inc. now owns 5,112 shares of the industrial products company’s stock valued at $351,000 after acquiring an additional 361 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Eaton by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 5,457,569 shares of the industrial products company’s stock valued at $374,165,000 after buying an additional 288,837 shares in the last quarter. Bank of Edwardsville bought a new stake in shares of Eaton during the 1st quarter valued at $365,000. Farmers Trust Co. boosted its holdings in shares of Eaton by 8.3% during the 1st quarter. Farmers Trust Co. now owns 63,031 shares of the industrial products company’s stock valued at $5,078,000 after buying an additional 4,826 shares in the last quarter. Finally, Denali Advisors LLC boosted its holdings in shares of Eaton by 6.1% during the 1st quarter. Denali Advisors LLC now owns 142,378 shares of the industrial products company’s stock valued at $11,470,000 after buying an additional 8,200 shares in the last quarter. 76.72% of the stock is owned by institutional investors and hedge funds.
In other Eaton news, Director Dorothy C. Thompson bought 1,655 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was acquired at an average price of $78.54 per share, with a total value of $129,983.70. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joao V. Faria sold 4,301 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $80.00, for a total value of $344,080.00. Following the completion of the transaction, the insider now directly owns 58,688 shares of the company’s stock, valued at approximately $4,695,040. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.
A number of analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Eaton from $88.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Barclays restated a “sell” rating and set a $76.00 target price on shares of Eaton in a report on Thursday, June 6th. Royal Bank of Canada set a $84.00 price target on shares of Eaton and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank set a $96.00 price target on shares of Eaton and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Eaton currently has a consensus rating of “Hold” and a consensus price target of $88.83.
NYSE:ETN traded down $1.17 during mid-day trading on Wednesday, reaching $77.72. The company’s stock had a trading volume of 1,259,978 shares, compared to its average volume of 2,473,801. Eaton Co. PLC has a 12-month low of $64.46 and a 12-month high of $89.46. The firm’s fifty day simple moving average is $81.19. The company has a current ratio of 1.83, a quick ratio of 1.18 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $33.13 billion, a PE ratio of 14.42, a P/E/G ratio of 1.54 and a beta of 1.44.
Eaton (NYSE:ETN) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.02. Eaton had a return on equity of 14.88% and a net margin of 10.16%. The business had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.63 billion. During the same quarter in the previous year, the firm earned $1.39 EPS. Eaton’s revenue was up .8% on a year-over-year basis. On average, sell-side analysts anticipate that Eaton Co. PLC will post 5.88 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Thursday, August 1st. Eaton’s dividend payout ratio (DPR) is 52.69%.
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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