Hallmark Capital Management Inc. raised its stake in Eaton Corporation, PLC (NYSE:ETN) by 75.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,937 shares of the industrial products company’s stock after buying an additional 3,837 shares during the period. Hallmark Capital Management Inc.’s holdings in Eaton Corporation, PLC were worth $696,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Pekin Singer Strauss Asset Management IL boosted its stake in Eaton Corporation, PLC by 2.4% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 25,987 shares of the industrial products company’s stock worth $1,743,000 after buying an additional 600 shares in the last quarter. HighPoint Advisor Group LLC boosted its stake in Eaton Corporation, PLC by 130.4% in the fourth quarter. HighPoint Advisor Group LLC now owns 8,796 shares of the industrial products company’s stock worth $644,000 after buying an additional 4,978 shares in the last quarter. Whalerock Point Partners LLC boosted its stake in Eaton Corporation, PLC by 11.4% in the fourth quarter. Whalerock Point Partners LLC now owns 11,725 shares of the industrial products company’s stock worth $787,000 after buying an additional 1,200 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in Eaton Corporation, PLC during the fourth quarter worth $2,199,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Eaton Corporation, PLC during the fourth quarter worth $981,000. Institutional investors own 76.30% of the company’s stock.
Shares of Eaton Corporation, PLC (ETN) opened at 78.97 on Friday. The firm’s 50-day moving average price is $77.76 and its 200-day moving average price is $74.22. The firm has a market cap of $35.32 billion, a PE ratio of 18.40 and a beta of 1.35. Eaton Corporation, PLC has a one year low of $59.07 and a one year high of $81.63.
Eaton Corporation, PLC (NYSE:ETN) last posted its quarterly earnings results on Tuesday, May 2nd. The industrial products company reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.09. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.70 billion. Eaton Corporation, PLC had a net margin of 9.86% and a return on equity of 12.82%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 earnings per share. Equities research analysts expect that Eaton Corporation, PLC will post $4.66 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on ETN shares. Zacks Investment Research upgraded Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a report on Monday, June 5th. JMP Securities started coverage on Eaton Corporation, PLC in a report on Monday, June 19th. They issued a “market perform” rating on the stock. Argus restated a “buy” rating and issued a $85.00 price target (up previously from $83.00) on shares of Eaton Corporation, PLC in a report on Tuesday, May 30th. Barclays PLC set a $81.00 price target on Eaton Corporation, PLC and gave the stock a “hold” rating in a report on Tuesday, May 2nd. Finally, ValuEngine upgraded Eaton Corporation, PLC from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $78.54.
In other Eaton Corporation, PLC news, insider Uday Yadav sold 3,034 shares of Eaton Corporation, PLC stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $76.08, for a total transaction of $230,826.72. Following the transaction, the insider now directly owns 22,601 shares in the company, valued at approximately $1,719,484.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Richard H. Fearon sold 25,000 shares of Eaton Corporation, PLC stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $76.24, for a total transaction of $1,906,000.00. Following the transaction, the insider now owns 236,497 shares in the company, valued at $18,030,531.28. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.
Eaton Corporation, PLC Company Profile
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.
Receive News & Ratings for Eaton Corporation PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton Corporation PLC and related companies with MarketBeat.com's FREE daily email newsletter.
