Quilter Investors LTD lessened its position in shares of Eaton Co. PLC (NYSE:ETN) by 52.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,123 shares of the industrial products company’s stock after selling 30,143 shares during the period. Eaton comprises 2.2% of Quilter Investors LTD’s holdings, making the stock its 19th largest position. Quilter Investors LTD’s holdings in Eaton were worth $2,258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Boston Partners boosted its stake in shares of Eaton by 40.9% during the 1st quarter. Boston Partners now owns 10,269,144 shares of the industrial products company’s stock worth $827,282,000 after buying an additional 2,978,615 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Eaton by 935.0% in the 1st quarter. SG Americas Securities LLC now owns 666,491 shares of the industrial products company’s stock valued at $53,693,000 after purchasing an additional 602,093 shares during the period. Clark Capital Management Group Inc. raised its holdings in shares of Eaton by 98.8% in the 2nd quarter. Clark Capital Management Group Inc. now owns 888,778 shares of the industrial products company’s stock valued at $74,017,000 after purchasing an additional 441,797 shares during the period. Bessemer Group Inc. raised its holdings in shares of Eaton by 4,728.8% in the 2nd quarter. Bessemer Group Inc. now owns 307,549 shares of the industrial products company’s stock valued at $25,612,000 after purchasing an additional 301,180 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in Eaton by 159.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 482,691 shares of the industrial products company’s stock valued at $40,049,000 after acquiring an additional 296,550 shares during the period. Hedge funds and other institutional investors own 77.35% of the company’s stock.

Shares of NYSE:ETN traded up $1.41 on Friday, reaching $77.32. 1,649,700 shares of the company’s stock were exchanged, compared to its average volume of 2,698,717. The company has a fifty day moving average of $80.41 and a 200-day moving average of $80.28. Eaton Co. PLC has a twelve month low of $64.46 and a twelve month high of $89.46. The company has a market capitalization of $31.88 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.48 and a beta of 1.44. 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 announced its earnings results on Tuesday, July 30th. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.63 billion. During the same quarter in the prior year, the business posted $1.39 EPS. The business’s revenue was up .8% compared to the same quarter last year. As a group, equities research analysts forecast that Eaton Co. PLC will post 5.87 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were given a dividend of $0.71 per share. The ex-dividend date was Thursday, August 1st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.67%. Eaton’s payout ratio is presently 52.69%.

Several research firms have weighed in on ETN. 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. Barclays reissued a “sell” rating and issued a $76.00 price target on shares of Eaton in a report on Thursday, June 6th. 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. Finally, Morgan Stanley increased 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. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $88.55.

In other Eaton news, insider Joao V. Faria sold 4,301 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $80.00, for a total transaction of $344,080.00. Following the transaction, the insider now owns 58,688 shares in the company, valued at approximately $4,695,040. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Richard H. Fearon sold 80,592 shares of the stock in a transaction that occurred 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 owns 270,097 shares in the company, valued at approximately $22,350,526.75. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

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.

Further Reading: Understanding Average Daily Trade Volume

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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