Sigma Planning Corp increased its holdings in shares of Eaton Co. PLC (NYSE:ETN) by 3.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 22,455 shares of the industrial products company’s stock after purchasing an additional 683 shares during the period. Sigma Planning Corp’s holdings in Eaton were worth $1,870,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Comerica Securities Inc. raised its position in Eaton by 7.6% in the fourth quarter. Comerica Securities Inc. now owns 5,112 shares of the industrial products company’s stock worth $351,000 after acquiring an additional 361 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Eaton by 5.6% in the fourth 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. First Manhattan Co. increased its position in shares of Eaton by 13.3% in the first quarter. First Manhattan Co. now owns 1,382 shares of the industrial products company’s stock valued at $111,000 after buying an additional 162 shares in the last quarter. Carroll Financial Associates Inc. increased its position in shares of Eaton by 110.7% in the first quarter. Carroll Financial Associates Inc. now owns 6,354 shares of the industrial products company’s stock valued at $511,000 after buying an additional 3,338 shares in the last quarter. Finally, Wedbush Securities Inc. increased its position in shares of Eaton by 11.5% in the first quarter. Wedbush Securities Inc. now owns 9,367 shares of the industrial products company’s stock valued at $755,000 after buying an additional 965 shares in the last quarter. Institutional investors and hedge funds own 77.35% of the company’s stock.
Shares of ETN stock traded up $1.41 during mid-day trading on Friday, reaching $77.32. The stock had a trading volume of 1,649,700 shares, compared to its average volume of 2,710,816. Eaton Co. PLC has a 12-month low of $64.46 and a 12-month high of $89.46. The company has a market cap of $31.58 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 1.46 and a beta of 1.44. The business has a 50-day simple moving average of $80.41 and a 200 day simple moving average of $80.28. The company has a current ratio of 1.83, a quick ratio of 1.18 and a debt-to-equity ratio of 0.51.
Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.63 billion. Eaton had a return on equity of 14.88% and a net margin of 10.16%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $1.39 earnings per share. Research analysts anticipate that Eaton Co. PLC will post 5.87 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Thursday, August 1st. Eaton’s payout ratio is currently 52.69%.
A number of research analysts have recently weighed in on ETN shares. Barclays restated a “sell” rating and issued a $76.00 price target on shares of Eaton in a research report on Thursday, June 6th. Deutsche Bank set a $96.00 price target on Eaton and gave the company a “buy” rating in a research report on Wednesday, July 31st. Morgan Stanley raised their price target on Eaton from $88.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada set a $84.00 price target on Eaton and gave the company a “hold” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $88.55.
In related news, insider Richard H. Fearon sold 80,592 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $82.75, for a total transaction of $6,668,988.00. Following the sale, the insider now owns 270,097 shares of the company’s stock, valued at $22,350,526.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joao V. Faria sold 4,301 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $80.00, for a total value of $344,080.00. Following the sale, the insider now directly owns 58,688 shares in the company, valued at approximately $4,695,040. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.
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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