SFE Investment Counsel Decreases Stock Position in Eaton Co. plc (NYSE:ETN)

SFE Investment Counsel reduced its position in Eaton Co. plc (NYSE:ETN) by 5.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,861 shares of the industrial products company’s stock after selling 812 shares during the quarter. SFE Investment Counsel’s holdings in Eaton were worth $2,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of Eaton by 0.3% in the first quarter. BlackRock Inc. now owns 30,119,886 shares of the industrial products company’s stock worth $4,164,979,000 after acquiring an additional 75,938 shares during the period. Boston Partners boosted its holdings in shares of Eaton by 1.6% in the first quarter. Boston Partners now owns 6,152,914 shares of the industrial products company’s stock worth $851,057,000 after acquiring an additional 97,790 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Eaton by 1.8% in the first quarter. Geode Capital Management LLC now owns 6,077,127 shares of the industrial products company’s stock worth $837,890,000 after acquiring an additional 109,488 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Eaton by 16.1% in the first quarter. Nuveen Asset Management LLC now owns 5,686,468 shares of the industrial products company’s stock worth $786,325,000 after acquiring an additional 787,040 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of Eaton by 21.9% in the first quarter. Morgan Stanley now owns 3,941,977 shares of the industrial products company’s stock worth $545,098,000 after acquiring an additional 707,368 shares during the period. 77.63% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:ETN traded up $4.24 during midday trading on Wednesday, hitting $160.54. The company had a trading volume of 69,345 shares, compared to its average volume of 1,937,793. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.10 and a quick ratio of 0.80. The company has a market cap of $63.99 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 2.14 and a beta of 1.15. Eaton Co. plc has a 12-month low of $96.24 and a 12-month high of $171.32. The company has a fifty day moving average of $161.45 and a two-hundred day moving average of $149.20.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, August 3rd. The industrial products company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.57 by $0.15. The firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.99 billion. Eaton had a return on equity of 15.03% and a net margin of 9.86%. Eaton’s revenue was up 35.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 EPS. Research analysts expect that Eaton Co. plc will post 6.82 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 27th. Shareholders of record on Friday, August 13th were paid a $0.76 dividend. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $3.04 dividend on an annualized basis and a yield of 1.89%. Eaton’s payout ratio is presently 71.70%.

In other Eaton news, insider Nandakumar Cheruvatath sold 7,529 shares of the stock in a transaction dated Thursday, August 19th. The shares were sold at an average price of $168.00, for a total transaction of $1,264,872.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher M. Connor acquired 1,000 shares of the company’s stock in a transaction on Wednesday, August 11th. The shares were bought at an average cost of $167.34 per share, with a total value of $167,340.00. The disclosure for this purchase can be found here. Insiders sold a total of 41,919 shares of company stock valued at $6,980,872 in the last quarter. 0.53% of the stock is currently owned by company insiders.

Several equities research analysts recently issued reports on ETN shares. UBS Group lifted their price objective on Eaton from $165.00 to $186.00 and gave the company a “buy” rating in a research note on Wednesday, August 11th. Morgan Stanley lifted their price target on Eaton from $180.00 to $187.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 4th. Deutsche Bank Aktiengesellschaft lifted their price target on Eaton from $166.00 to $169.00 and gave the stock a “buy” rating in a research note on Wednesday, July 14th. William Blair reiterated a “market perform” rating on shares of Eaton in a report on Tuesday, August 3rd. Finally, Argus boosted their price target on Eaton from $165.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, August 10th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $161.06.

Eaton Profile

Eaton Corp. Plc is a power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: Electrical Americas and Electrical Global, Hydraulics, Aerospace, Vehicle, and eMobility. The Electrical Americas and Electrical Global segment engages in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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