Pitcairn Co. Has $954,000 Position in Eaton Corp. PLC (ETN)
Pitcairn Co. cut its stake in shares of Eaton Corp. PLC (NYSE:ETN) by 2.6% during the second quarter, Holdings Channel reports. The firm owned 15,967 shares of the company’s stock after selling 418 shares during the period. Pitcairn Co.’s holdings in Eaton Corp. PLC were worth $954,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in ETN. Physicians Financial Services Inc. raised its stake in shares of Eaton Corp. PLC by 111.7% in the second quarter. Physicians Financial Services Inc. now owns 1,706 shares of the company’s stock valued at $102,000 after buying an additional 900 shares during the period. Zions Bancorporation raised its stake in shares of Eaton Corp. PLC by 209.7% in the first quarter. Zions Bancorporation now owns 1,753 shares of the company’s stock valued at $110,000 after buying an additional 1,187 shares during the period. Kistler Tiffany Companies LLC raised its stake in shares of Eaton Corp. PLC by 2.8% in the second quarter. Kistler Tiffany Companies LLC now owns 1,809 shares of the company’s stock valued at $108,000 after buying an additional 49 shares during the period. American National Bank raised its stake in shares of Eaton Corp. PLC by 171.6% in the second quarter. American National Bank now owns 1,915 shares of the company’s stock valued at $114,000 after buying an additional 1,210 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Eaton Corp. PLC during the second quarter valued at about $130,000. 74.38% of the stock is currently owned by hedge funds and other institutional investors.
Eaton Corp. PLC (NYSE:ETN) traded down 0.81% during mid-day trading on Tuesday, reaching $62.74. The company had a trading volume of 2,406,627 shares. The firm has a market capitalization of $28.53 billion, a P/E ratio of 15.49 and a beta of 1.62. The firm’s 50-day moving average is $65.94 and its 200-day moving average is $62.77. Eaton Corp. PLC has a one year low of $46.19 and a one year high of $68.20.
Eaton Corp. PLC (NYSE:ETN) last released its earnings results on Tuesday, August 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.07. Eaton Corp. PLC had a return on equity of 12.28% and a net margin of 9.29%. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the previous year, the business posted $1.16 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Eaton Corp. PLC will post $4.28 earnings per share for the current fiscal year.
ETN has been the topic of several analyst reports. Bank of America Corp. lowered shares of Eaton Corp. PLC from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a report on Thursday, July 14th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Eaton Corp. PLC from a “hold” rating to a “sell” rating in a report on Monday, July 18th. Argus raised shares of Eaton Corp. PLC from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, August 10th. They noted that the move was a valuation call. Deutsche Bank AG reaffirmed a “hold” rating and issued a $65.00 target price on shares of Eaton Corp. PLC in a report on Thursday, August 25th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Eaton Corp. PLC in a report on Friday, August 5th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have assigned a buy rating to the stock. Eaton Corp. PLC has a consensus rating of “Hold” and an average target price of $62.57.
In other Eaton Corp. PLC news, Director Dorothy C. Thompson bought 550 shares of the firm’s stock in a transaction on Friday, August 19th. The shares were purchased at an average price of $67.32 per share, for a total transaction of $37,026.00. Following the completion of the transaction, the director now directly owns 550 shares in the company, valued at approximately $37,026. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Uday Yadav sold 15,713 shares of Eaton Corp. PLC stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $67.05, for a total value of $1,053,556.65. Following the completion of the transaction, the insider now owns 22,601 shares in the company, valued at approximately $1,515,397.05. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.
About Eaton Corp. PLC
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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