Signition LP boosted its holdings in Eaton Co. PLC (NYSE:ETN) by 17.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,847 shares of the industrial products company’s stock after purchasing an additional 851 shares during the quarter. Signition LP’s holdings in Eaton were worth $437,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ETN. Pegasus Asset Management Inc. raised its position in Eaton by 2.3% during the 2nd quarter. Pegasus Asset Management Inc. now owns 28,030 shares of the industrial products company’s stock worth $2,095,000 after buying an additional 643 shares during the last quarter. Bessemer Group Inc. raised its position in Eaton by 5.4% during the 2nd quarter. Bessemer Group Inc. now owns 12,819 shares of the industrial products company’s stock worth $958,000 after buying an additional 651 shares during the last quarter. Cambria Investment Management L.P. raised its position in Eaton by 2.7% during the 1st quarter. Cambria Investment Management L.P. now owns 25,729 shares of the industrial products company’s stock worth $2,056,000 after buying an additional 668 shares during the last quarter. World Asset Management Inc raised its position in Eaton by 2.5% during the 2nd quarter. World Asset Management Inc now owns 27,989 shares of the industrial products company’s stock worth $2,092,000 after buying an additional 672 shares during the last quarter. Finally, Capital City Trust Co. FL raised its position in Eaton by 4.0% during the 2nd quarter. Capital City Trust Co. FL now owns 17,914 shares of the industrial products company’s stock worth $1,339,000 after buying an additional 693 shares during the last quarter. Hedge funds and other institutional investors own 78.37% of the company’s stock.

ETN has been the subject of a number of analyst reports. ValuEngine downgraded shares of Eaton from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Zacks Investment Research upgraded shares of Eaton from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research report on Monday, August 6th. Deutsche Bank set a $86.00 price objective on shares of Eaton and gave the stock a “buy” rating in a research report on Thursday, July 12th. Citigroup cut their price objective on shares of Eaton from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, May 2nd. Finally, Barclays downgraded shares of Eaton from an “equal weight” rating to an “underweight” rating in a research report on Monday, May 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $86.67.

In related news, insider William J. Vanlandingham II sold 5,722 shares of the stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $79.39, for a total value of $454,269.58. Following the sale, the insider now directly owns 12,674 shares of the company’s stock, valued at approximately $1,006,188.86. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Uday Yadav sold 9,786 shares of the stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $80.32, for a total transaction of $786,011.52. Following the completion of the sale, the insider now directly owns 21,559 shares in the company, valued at $1,731,618.88. The disclosure for this sale can be found here. Insiders sold a total of 27,683 shares of company stock valued at $2,220,088 in the last quarter. Insiders own 0.50% of the company’s stock.

Shares of Eaton opened at $80.55 on Friday, according to Marketbeat. The company has a quick ratio of 0.96, a current ratio of 1.47 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $35.40 billion, a PE ratio of 17.32, a P/E/G ratio of 1.49 and a beta of 1.42. Eaton Co. PLC has a 52-week low of $69.82 and a 52-week high of $89.85.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.07. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.45 billion. Eaton had a net margin of 14.80% and a return on equity of 13.11%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.15 EPS. equities research analysts forecast that Eaton Co. PLC will post 5.35 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 17th. Stockholders of record on Friday, August 3rd will be issued a $0.66 dividend. The ex-dividend date of this dividend is Thursday, August 2nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.28%. Eaton’s dividend payout ratio is presently 56.77%.

Eaton Company 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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