The Eaton Corp. PLC (ETN) Position Held by Midas Management Corp

The Eaton Corp. PLC (ETN) Position Held by Midas Management Corp

Midas Management Corp maintained its stake in Eaton Corp. PLC (NYSE:ETN) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 18,000 shares of the company’s stock at the end of the second quarter. Midas Management Corp’s holdings in Eaton Corp. PLC were worth $1,075,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Physicians Financial Services Inc. raised its position 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 in the last quarter. Kistler Tiffany Companies LLC raised its position 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 in the last quarter. Zions Bancorporation raised its position in shares of Eaton Corp. PLC by 209.7% in the first quarter. Zions Bancorporation now owns 1,753 shares of the company’s stock valued at $110,000 after buying an additional 1,187 shares in the last quarter. American National Bank raised its position 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 in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Eaton Corp. PLC during the second quarter valued at about $130,000. 74.32% of the stock is currently owned by institutional investors.

Shares of Eaton Corp. PLC (NYSE:ETN) traded down 0.28% during trading on Monday, reaching $63.12. 2,671,990 shares of the company’s stock were exchanged. Eaton Corp. PLC has a 12 month low of $46.19 and a 12 month high of $68.20. The stock has a 50-day moving average price of $64.58 and a 200 day moving average price of $63.14. The firm has a market cap of $28.70 billion, a price-to-earnings ratio of 15.58 and a beta of 1.54.

Eaton Corp. PLC (NYSE:ETN) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $1.07 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.07. Eaton Corp. PLC had a net margin of 9.29% and a return on equity of 12.28%. The firm earned $5.10 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, analysts forecast that Eaton Corp. PLC will post $4.28 EPS for the current year.

Several research analysts recently issued reports on the stock. HSBC assumed coverage on shares of Eaton Corp. PLC in a research note on Friday, October 7th. They set a “buy” rating and a $74.00 target price on the stock. Deutsche Bank AG reissued a “hold” rating and set a $65.00 target price on shares of Eaton Corp. PLC in a research note on Thursday, August 25th. Argus raised shares of Eaton Corp. PLC from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, August 10th. They noted that the move was a valuation call. Jefferies Group reissued a “hold” rating on shares of Eaton Corp. PLC in a research note on Friday, August 5th. Finally, Barclays PLC increased their target price on shares of Eaton Corp. PLC from $67.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 3rd. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company’s stock. Eaton Corp. PLC currently has a consensus rating of “Hold” and an average target price of $63.35.

In related news, insider Uday Yadav sold 15,713 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $67.05, for a total value of $1,053,556.65. Following the completion of the sale, the insider now directly owns 22,601 shares of the company’s stock, valued at approximately $1,515,397.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark M. Mcguire sold 18,751 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $64.55, for a total transaction of $1,210,377.05. Following the completion of the sale, the insider now directly owns 51,447 shares of the company’s stock, valued at $3,320,903.85. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.

About Eaton Corp. 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.

Related posts

Leave a Comment