Ngam Advisors L.P. decreased its stake in shares of Eaton Corp. PLC (NYSE:ETN) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 248,352 shares of the company’s stock after selling 2,356 shares during the period. Ngam Advisors L.P. owned 0.05% of Eaton Corp. PLC worth $16,320,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in ETN. Alps Advisors Inc. raised its stake in shares of Eaton Corp. PLC by 17.5% in the second quarter. Alps Advisors Inc. now owns 427,451 shares of the company’s stock valued at $25,532,000 after buying an additional 63,571 shares in the last quarter. Hermes Investment Management Ltd. raised its stake in shares of Eaton Corp. PLC by 19.6% in the second quarter. Hermes Investment Management Ltd. now owns 365,441 shares of the company’s stock valued at $21,828,000 after buying an additional 59,900 shares in the last quarter. Capital One National Association raised its stake in shares of Eaton Corp. PLC by 12.1% in the second quarter. Capital One National Association now owns 3,995 shares of the company’s stock valued at $239,000 after buying an additional 431 shares in the last quarter. Seminole Management Co. Inc. acquired a new stake in shares of Eaton Corp. PLC during the second quarter valued at about $21,313,000. Finally, Boston Advisors LLC raised its stake in shares of Eaton Corp. PLC by 7.7% in the second quarter. Boston Advisors LLC now owns 571,639 shares of the company’s stock valued at $34,144,000 after buying an additional 41,073 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.
Eaton Corp. PLC (NYSE:ETN) traded down 1.20% during mid-day trading on Monday, reaching $66.01. The company had a trading volume of 455,852 shares. Eaton Corp. PLC has a 1-year low of $46.19 and a 1-year high of $68.95. The firm has a 50-day moving average of $64.02 and a 200 day moving average of $63.54. The company has a market capitalization of $29.82 billion, a PE ratio of 15.60 and a beta of 1.36.
Eaton Corp. PLC (NYSE:ETN) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. The business earned $5 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Eaton Corp. PLC had a return on equity of 12.73% and a net margin of 9.78%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.96 earnings per share. On average, analysts predict that Eaton Corp. PLC will post $4.20 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Thursday, November 3rd. Eaton Corp. PLC’s payout ratio is 53.65%.
Several equities research analysts have recently issued reports on ETN shares. 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 report on Friday, October 7th. They issued a “buy” rating and a $74.00 price objective for the company. RBC Capital Markets decreased their price objective on Eaton Corp. PLC from $68.00 to $65.00 and set a “sector perform” rating for the company in a report on Wednesday, November 2nd. Argus raised Eaton Corp. PLC from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, August 10th. They noted that the move was a valuation call. Finally, Jefferies Group reissued a “hold” rating on shares of Eaton Corp. PLC in a report on Friday, August 5th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $64.37.
In related news, Director Charles E. Golden sold 14,626 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $67.96, for a total transaction of $993,982.96. Following the completion of the sale, the director now owns 15,964 shares in the company, valued at $1,084,913.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard H. Fearon sold 20,000 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $68.11, for a total value of $1,362,200.00. Following the sale, the insider now owns 254,856 shares of the company’s stock, valued at approximately $17,358,242.16. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.
About Eaton Corp. PLC