Trade Report: Today, UBS Asset Management Americas Inc. invests in Eaton Corp. PLC (ETN) Shares

Today, UBS Asset Management Americas Inc. invests in Eaton Corp. PLC (ETN) Shares

UBS Asset Management Americas Inc. boosted its stake in shares of Eaton Corp. PLC (NYSE:ETN) by 12.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,823,535 shares of the company’s stock after buying an additional 200,244 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.40% of Eaton Corp. PLC worth $119,825,000 at the end of the most recent reporting period.

Several other hedge funds have also recently 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. 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. Ropes Wealth Advisors LLC raised its stake in shares of Eaton Corp. PLC by 1.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,863 shares of the company’s stock valued at $111,000 after buying an additional 22 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, Signaturefd LLC raised its stake in shares of Eaton Corp. PLC by 35.9% in the second quarter. Signaturefd LLC now owns 1,933 shares of the company’s stock valued at $115,000 after buying an additional 511 shares during the period. Institutional investors and hedge funds own 74.34% of the company’s stock.

Eaton Corp. PLC (NYSE:ETN) traded up 0.30% during mid-day trading on Friday, hitting $66.69. The stock had a trading volume of 573,348 shares. The stock’s 50-day moving average is $64.03 and its 200 day moving average is $63.50. Eaton Corp. PLC has a 52 week low of $46.19 and a 52 week high of $68.95. The company has a market capitalization of $30.12 billion, a P/E ratio of 15.76 and a beta of 1.36.

Eaton Corp. PLC (NYSE:ETN) last posted its earnings results on Tuesday, November 1st. The company reported $1.15 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.15. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $5.05 billion. Eaton Corp. PLC had a return on equity of 12.73% and a net margin of 9.78%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 earnings per share. Equities analysts forecast that Eaton Corp. PLC will post $4.20 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were issued a dividend of $0.57 per share. The ex-dividend date was Thursday, November 3rd. This represents a $2.28 annualized dividend and a yield of 3.43%. Eaton Corp. PLC’s dividend payout ratio is presently 53.65%.

A number of equities research analysts have recently issued reports on the company. RBC Capital Markets cut their target price on Eaton Corp. PLC from $68.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 2nd. Deutsche Bank AG reaffirmed a “hold” rating and set a $65.00 target price on shares of Eaton Corp. PLC in a research report on Thursday, August 25th. HSBC assumed coverage on Eaton Corp. PLC in a research report on Friday, October 7th. They set a “buy” rating and a $74.00 target price on the stock. Jefferies Group reaffirmed a “hold” rating on shares of Eaton Corp. PLC in a research report on Friday, August 5th. Finally, Barclays PLC boosted their target price on Eaton Corp. PLC from $67.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. Eaton Corp. PLC has a consensus rating of “Hold” and an average target price of $64.37.

In other Eaton Corp. PLC news, insider Richard H. Fearon sold 20,000 shares of Eaton Corp. PLC stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $68.11, for a total transaction of $1,362,200.00. Following the transaction, the insider now directly owns 254,856 shares in the company, valued at $17,358,242.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Critelli sold 13,000 shares of Eaton Corp. PLC stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $64.26, for a total value of $835,380.00. Following the transaction, the director now owns 70,566 shares in the company, valued at $4,534,571.16. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

About Eaton Corp. PLC

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