Eaton Co. PLC (ETN) Position Increased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in Eaton Co. PLC (NYSE:ETN) by 7.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 531,957 shares of the industrial products company’s stock after acquiring an additional 38,321 shares during the period. Victory Capital Management Inc.’s holdings in Eaton were worth $46,137,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pegasus Asset Management Inc. increased its stake in Eaton by 2.3% during the second quarter. Pegasus Asset Management Inc. now owns 28,030 shares of the industrial products company’s stock valued at $2,095,000 after purchasing an additional 643 shares during the last quarter. Bessemer Group Inc. increased its stake in Eaton by 5.4% during the second quarter. Bessemer Group Inc. now owns 12,819 shares of the industrial products company’s stock valued at $958,000 after purchasing an additional 651 shares during the last quarter. World Asset Management Inc increased its stake in Eaton by 2.5% during the second quarter. World Asset Management Inc now owns 27,989 shares of the industrial products company’s stock valued at $2,092,000 after purchasing an additional 672 shares during the last quarter. Capital City Trust Co. FL increased its stake in Eaton by 4.0% during the second quarter. Capital City Trust Co. FL now owns 17,914 shares of the industrial products company’s stock valued at $1,339,000 after purchasing an additional 693 shares during the last quarter. Finally, Andesa Financial Management Inc. increased its stake in Eaton by 3.5% during the second quarter. Andesa Financial Management Inc. now owns 21,750 shares of the industrial products company’s stock valued at $1,623,000 after purchasing an additional 740 shares during the last quarter. 77.29% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have weighed in on the stock. Citigroup lowered their target price on shares of Eaton from $92.00 to $88.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Barclays restated an “underweight” rating and set a $75.00 price target (down previously from $77.00) on shares of Eaton in a research report on Thursday, November 1st. Credit Suisse Group lowered their price target on shares of Eaton from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, October 31st. UBS Group set a $97.00 price target on shares of Eaton and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Finally, Morgan Stanley lowered their price target on shares of Eaton from $94.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Eaton has an average rating of “Buy” and an average price target of $86.12.

In related news, Director Deborah L. Mccoy sold 3,000 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $84.55, for a total value of $253,650.00. Following the completion of the sale, the director now owns 32,936 shares of the company’s stock, valued at $2,784,738.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard H. Fearon sold 25,000 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $83.29, for a total transaction of $2,082,250.00. Following the completion of the sale, the insider now directly owns 221,459 shares of the company’s stock, valued at approximately $18,445,320.11. The disclosure for this sale can be found here. Insiders sold 55,000 shares of company stock valued at $4,617,645 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Eaton stock opened at $73.43 on Friday. The stock has a market cap of $32.69 billion, a PE ratio of 14.48, a PEG ratio of 1.37 and a beta of 1.49. Eaton Co. PLC has a one year low of $67.70 and a one year high of $89.85. 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 (NYSE:ETN) last posted its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $1.43 earnings per share for the quarter, hitting the consensus estimate of $1.43. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.49 billion. Eaton had a net margin of 10.06% and a return on equity of 13.48%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. Equities research analysts predict that Eaton Co. PLC will post 5.35 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Friday, November 2nd will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Thursday, November 1st. Eaton’s payout ratio is currently 56.77%.

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Eaton Company Profile

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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