Botty Investors LLC decreased its stake in shares of Eaton Corporation, PLC (NYSE:ETN) by 38.3% during the second quarter, Holdings Channel reports. The firm owned 4,540 shares of the industrial products company’s stock after selling 2,815 shares during the period. Botty Investors LLC’s holdings in Eaton Corporation, PLC were worth $353,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Eaton Corporation, PLC by 2,830.8% in the first quarter. BlackRock Inc. now owns 29,114,265 shares of the industrial products company’s stock valued at $2,158,821,000 after buying an additional 28,120,890 shares during the period. Boston Partners increased its stake in shares of Eaton Corporation, PLC by 286.0% in the first quarter. Boston Partners now owns 7,227,300 shares of the industrial products company’s stock valued at $535,904,000 after buying an additional 5,354,998 shares during the period. Bank of America Corp DE increased its stake in shares of Eaton Corporation, PLC by 17.0% in the first quarter. Bank of America Corp DE now owns 6,407,605 shares of the industrial products company’s stock valued at $475,123,000 after buying an additional 932,400 shares during the period. Wellington Management Group LLP increased its stake in shares of Eaton Corporation, PLC by 2.4% in the first quarter. Wellington Management Group LLP now owns 37,607,505 shares of the industrial products company’s stock valued at $2,788,596,000 after buying an additional 875,616 shares during the period. Finally, FMR LLC increased its stake in shares of Eaton Corporation, PLC by 9.5% in the first quarter. FMR LLC now owns 9,180,438 shares of the industrial products company’s stock valued at $680,729,000 after buying an additional 794,975 shares during the period. 76.78% of the stock is currently owned by institutional investors.

Shares of Eaton Corporation, PLC (NYSE ETN) opened at 72.31 on Wednesday. The company has a market capitalization of $32.16 billion, a PE ratio of 16.58 and a beta of 1.35. Eaton Corporation, PLC has a one year low of $59.07 and a one year high of $81.63. The company has a 50-day moving average of $77.19 and a 200-day moving average of $75.11.

Eaton Corporation, PLC (NYSE:ETN) last released its earnings results on Tuesday, August 1st. The industrial products company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by $0.01. The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.14 billion. Eaton Corporation, PLC had a net margin of 9.95% and a return on equity of 12.93%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the business posted $1.07 EPS. On average, analysts anticipate that Eaton Corporation, PLC will post $4.61 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Friday, August 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Wednesday, August 2nd. Eaton Corporation, PLC’s dividend payout ratio (DPR) is presently 54.79%.

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ETN has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research note on Friday, May 26th. Stifel Nicolaus reissued a “hold” rating and set a $80.00 target price on shares of Eaton Corporation, PLC in a research note on Friday, July 7th. Wolfe Research initiated coverage on shares of Eaton Corporation, PLC in a research note on Tuesday, July 11th. They set a “market perform” rating on the stock. Royal Bank Of Canada reissued a “hold” rating and set a $78.00 target price on shares of Eaton Corporation, PLC in a research note on Wednesday, July 12th. Finally, BidaskClub downgraded shares of Eaton Corporation, PLC from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $78.54.

About Eaton Corporation, 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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Institutional Ownership by Quarter for Eaton Corporation, PLC (NYSE:ETN)

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