Virginia Retirement Systems ET AL Has $18.19 Million Holdings in Eaton Co. PLC (ETN)

Virginia Retirement Systems ET AL boosted its stake in shares of Eaton Co. PLC (NYSE:ETN) by 5.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 209,700 shares of the industrial products company’s stock after buying an additional 10,900 shares during the period. Virginia Retirement Systems ET AL’s holdings in Eaton were worth $18,187,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Stephens Inc. AR lifted its holdings in Eaton by 5.2% during the second quarter. Stephens Inc. AR now owns 75,832 shares of the industrial products company’s stock worth $5,668,000 after buying an additional 3,775 shares during the period. South Texas Money Management Ltd. lifted its holdings in shares of Eaton by 13.9% during the 2nd quarter. South Texas Money Management Ltd. now owns 437,414 shares of the industrial products company’s stock valued at $32,692,000 after purchasing an additional 53,275 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of Eaton by 44.2% during the 2nd quarter. OppenheimerFunds Inc. now owns 996,721 shares of the industrial products company’s stock valued at $74,495,000 after purchasing an additional 305,393 shares during the last quarter. Independent Advisor Alliance lifted its holdings in shares of Eaton by 11.1% during the 2nd quarter. Independent Advisor Alliance now owns 14,434 shares of the industrial products company’s stock valued at $993,000 after purchasing an additional 1,440 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Eaton by 1.9% during the 2nd quarter. BlackRock Inc. now owns 29,464,156 shares of the industrial products company’s stock valued at $2,202,152,000 after purchasing an additional 539,852 shares during the last quarter. Institutional investors own 77.29% of the company’s stock.

Several brokerages have recently commented on ETN. UBS Group set a $97.00 price objective on Eaton and gave the company a “buy” rating in a report on Wednesday, October 31st. ValuEngine upgraded Eaton from a “sell” rating to a “hold” rating in a report on Thursday, July 19th. Barclays increased their price objective on Eaton from $71.00 to $77.00 and gave the company an “underweight” rating in a report on Wednesday, August 1st. Wells Fargo & Co set a $92.00 price objective on Eaton and gave the company a “buy” rating in a report on Wednesday, August 1st. Finally, Morgan Stanley decreased their price objective on Eaton from $94.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $86.12.

ETN stock traded up $0.60 during midday trading on Wednesday, reaching $75.88. The stock had a trading volume of 4,441 shares, compared to its average volume of 3,538,153. The firm has a market capitalization of $31.74 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 1.33 and a beta of 1.49. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.49 and a quick ratio of 0.96. Eaton Co. PLC has a 52-week low of $67.70 and a 52-week high of $89.85.

Eaton (NYSE:ETN) last issued its earnings results on Tuesday, October 30th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.43. The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.49 billion. Eaton had a return on equity of 13.48% and a net margin of 10.06%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. As a group, equities research analysts expect that Eaton Co. PLC will post 5.35 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Friday, November 2nd will be paid a $0.66 dividend. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $2.64 dividend on an annualized basis and a yield of 3.48%. Eaton’s dividend payout ratio (DPR) is 56.77%.

In related news, insider Ken D. Semelsberger sold 11,500 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $86.57, for a total value of $995,555.00. Following the completion of the transaction, the insider now owns 78,883 shares in the company, valued at approximately $6,828,901.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Revathi Advaithi sold 15,500 shares of the firm’s stock in a transaction on Thursday, August 30th. The stock was 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 of the company’s stock, valued at approximately $2,050,850.70. The disclosure for this sale can be found here. Insiders sold a total of 55,000 shares of company stock valued at $4,617,645 in the last 90 days. 0.50% of the stock is currently owned by company insiders.

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About Eaton

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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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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