Eaton Corporation, PLC (ETN) Shares Bought by Hallmark Capital Management Inc.

Hallmark Capital Management Inc. raised its position in shares of Eaton Corporation, PLC (NYSE:ETN) by 75.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Creative Planning increased its position in shares of Eaton Corporation, PLC by 5.3% in the first quarter. Creative Planning now owns 27,652 shares of the industrial products company’s stock worth $2,050,000 after buying an additional 1,382 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of Eaton Corporation, PLC by 12.5% in the first quarter. Raymond James Trust N.A. now owns 22,066 shares of the industrial products company’s stock worth $1,637,000 after buying an additional 2,450 shares in the last quarter. CHURCHILL MANAGEMENT Corp increased its position in shares of Eaton Corporation, PLC by 4.7% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 272,616 shares of the industrial products company’s stock worth $20,214,000 after buying an additional 12,316 shares in the last quarter. Denali Advisors LLC increased its stake in Eaton Corporation, PLC by 42.9% in the first quarter. Denali Advisors LLC now owns 80,309 shares of the industrial products company’s stock valued at $5,955,000 after buying an additional 24,112 shares during the period. Finally, Fulton Bank N.A. purchased a new stake in Eaton Corporation, PLC during the first quarter valued at about $237,000. 76.32% of the stock is currently owned by institutional investors and hedge funds.

Eaton Corporation, PLC (NYSE:ETN) traded down 0.16% during mid-day trading on Wednesday, hitting $73.54. 1,082,720 shares of the company were exchanged. The stock has a market cap of $32.89 billion, a P/E ratio of 17.13 and a beta of 1.35. The company has a 50 day moving average of $78.18 and a 200 day moving average of $74.86. Eaton Corporation, PLC has a 12-month low of $59.07 and a 12-month high of $81.63.

Eaton Corporation, PLC (NYSE:ETN) last released its earnings results on Tuesday, August 1st. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by $0.01. Eaton Corporation, PLC had a net margin of 9.86% and a return on equity of 12.82%. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the company posted $1.07 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts expect that Eaton Corporation, PLC will post $4.66 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Friday, August 4th will be given a $0.60 dividend. The ex-dividend date is Wednesday, August 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.23%. Eaton Corporation, PLC’s dividend payout ratio is 55.81%.

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Several equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Friday, May 12th. Stifel Nicolaus reissued a “hold” rating and set a $80.00 price objective on shares of Eaton Corporation, PLC in a report on Friday, July 7th. Royal Bank Of Canada reissued a “hold” rating and set a $78.00 price objective on shares of Eaton Corporation, PLC in a report on Wednesday, July 12th. Longbow Research raised shares of Eaton Corporation, PLC from a “neutral” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Tuesday, April 4th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $75.00 price objective on shares of Eaton Corporation, PLC in a report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. Eaton Corporation, PLC has a consensus rating of “Hold” and a consensus target price of $78.54.

In related news, insider Uday Yadav sold 3,034 shares of the stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $76.08, for a total value of $230,826.72. Following the sale, the insider now directly owns 22,601 shares in the company, valued at approximately $1,719,484.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard H. Fearon sold 25,000 shares of the stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $76.24, for a total transaction of $1,906,000.00. Following the completion of the sale, 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. Company 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.