MHI Funds LLC reduced its stake in shares of Eaton Co. PLC (NYSE:ETN) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,366 shares of the industrial products company’s stock after selling 468 shares during the period. Eaton accounts for 2.9% of MHI Funds LLC’s investment portfolio, making the stock its 13th biggest holding. MHI Funds LLC’s holdings in Eaton were worth $2,525,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ETN. Nuveen Asset Management LLC grew its holdings in shares of Eaton by 16,401.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,151,288 shares of the industrial products company’s stock valued at $262,439,000 after acquiring an additional 3,132,191 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Eaton by 61.8% during the 2nd quarter. AQR Capital Management LLC now owns 3,988,837 shares of the industrial products company’s stock valued at $331,074,000 after acquiring an additional 1,524,042 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Eaton by 28.1% during the 2nd quarter. Invesco Ltd. now owns 5,815,463 shares of the industrial products company’s stock valued at $484,312,000 after acquiring an additional 1,276,325 shares in the last quarter. Eaton Vance Management grew its holdings in shares of Eaton by 501.2% during the 2nd quarter. Eaton Vance Management now owns 929,311 shares of the industrial products company’s stock valued at $77,393,000 after acquiring an additional 774,731 shares in the last quarter. Finally, Lansdowne Partners UK LLP grew its holdings in shares of Eaton by 507.5% during the 2nd quarter. Lansdowne Partners UK LLP now owns 892,699 shares of the industrial products company’s stock valued at $74,344,000 after acquiring an additional 745,762 shares in the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Several equities analysts have recently commented on the stock. Oppenheimer upgraded shares of Eaton from a “market perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a report on Wednesday. Royal Bank of Canada set a $84.00 price target on shares of Eaton and gave the company a “hold” rating in a report on Wednesday, July 31st. Deutsche Bank set a $96.00 price target on shares of Eaton and gave the company a “buy” rating in a report on Wednesday, July 31st. Robert W. Baird cut shares of Eaton from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $89.00 to $82.00 in a report on Tuesday, September 3rd. Finally, Morgan Stanley boosted their price target 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $88.23.

Shares of ETN stock traded up $0.37 on Thursday, hitting $81.44. The company’s stock had a trading volume of 2,191,584 shares, compared to its average volume of 2,081,886. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.83 and a quick ratio of 1.18. Eaton Co. PLC has a fifty-two week low of $64.46 and a fifty-two week high of $89.07. The firm’s fifty day moving average price is $81.98 and its 200-day moving average price is $80.88. The stock has a market capitalization of $33.96 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 1.59 and a beta of 1.43.

Eaton (NYSE:ETN) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. Eaton had a net margin of 10.16% and a return on equity of 14.88%. 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 business earned $1.39 EPS. Eaton’s quarterly revenue was up .8% compared to the same quarter last year. Analysts predict that Eaton Co. PLC will post 5.83 EPS for the current fiscal year.

In other Eaton news, Director Deborah L. Mccoy sold 3,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $79.18, for a total transaction of $237,540.00. Following the completion of the transaction, the director now owns 29,936 shares of the company’s stock, valued at approximately $2,370,332.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Richard H. Fearon sold 80,592 shares of the business’s 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 transaction, the insider now directly owns 270,097 shares of the company’s stock, valued at approximately $22,350,526.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,592 shares of company stock valued at $8,501,148. 0.70% of the stock is owned by company insiders.

Eaton 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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