Estabrook Capital Management Sells 520 Shares of Eaton Corporation, PLC (ETN)

Estabrook Capital Management reduced its holdings in shares of Eaton Corporation, PLC (NYSE:ETN) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,804 shares of the industrial products company’s stock after selling 520 shares during the period. Estabrook Capital Management’s holdings in Eaton Corporation, PLC were worth $3,721,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ETN. Guardian Life Insurance Co. of America raised its holdings in shares of Eaton Corporation, PLC by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,742 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 12 shares during the last quarter. Haverford Financial Services Inc. boosted its position in shares of Eaton Corporation, PLC by 0.7% in the first quarter. Haverford Financial Services Inc. now owns 4,549 shares of the industrial products company’s stock worth $337,000 after purchasing an additional 30 shares during the period. Holderness Investments Co. boosted its position in shares of Eaton Corporation, PLC by 0.7% in the first quarter. Holderness Investments Co. now owns 7,231 shares of the industrial products company’s stock worth $536,000 after purchasing an additional 50 shares during the period. Smithfield Trust Co. boosted its position in shares of Eaton Corporation, PLC by 0.6% in the first quarter. Smithfield Trust Co. now owns 12,305 shares of the industrial products company’s stock worth $913,000 after purchasing an additional 70 shares during the period. Finally, Capital One National Association lifted its holdings in shares of Eaton Corporation, PLC by 1.5% in the first quarter. Capital One National Association now owns 4,610 shares of the industrial products company’s stock worth $342,000 after buying an additional 70 shares in the last quarter. 75.86% of the stock is owned by institutional investors.

Several equities analysts have recently commented on ETN shares. Zacks Investment Research downgraded shares of Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Argus reaffirmed a “buy” rating and set a $85.00 price target (up previously from $83.00) on shares of Eaton Corporation, PLC in a research note on Tuesday, May 30th. ValuEngine raised shares of Eaton Corporation, PLC from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. JMP Securities assumed coverage on shares of Eaton Corporation, PLC in a research note on Monday, June 19th. They issued a “market perform” rating on the stock. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $80.00 target price on shares of Eaton Corporation, PLC in a research note on Friday, July 7th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $79.67.

In other Eaton Corporation, PLC news, Director Deborah L. Mccoy sold 6,450 shares of Eaton Corporation, PLC stock in a transaction on Monday, September 11th. The stock was sold at an average price of $73.17, for a total transaction of $471,946.50. Following the sale, the director now owns 46,386 shares of the company’s stock, valued at approximately $3,394,063.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.80% of the stock is owned by insiders.

Shares of Eaton Corporation, PLC (NYSE:ETN) traded up 1.26% during midday trading on Friday, reaching $76.57. 2,031,093 shares of the company’s stock traded hands. Eaton Corporation, PLC has a 52 week low of $59.07 and a 52 week high of $81.63. The stock’s 50 day moving average is $72.88 and its 200-day moving average is $75.16. The company has a market capitalization of $34.06 billion, a PE ratio of 17.55 and a beta of 1.36.

Eaton Corporation, PLC (NYSE:ETN) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.01). Eaton Corporation, PLC had a return on equity of 12.93% and a net margin of 9.95%. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the business posted $1.07 EPS. Eaton Corporation, PLC’s revenue was up 1.0% compared to the same quarter last year. On average, analysts forecast that Eaton Corporation, PLC will post $4.61 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Friday, August 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 3.17%. Eaton Corporation, PLC’s dividend payout ratio is currently 54.79%.

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Eaton Corporation, PLC 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.

Institutional Ownership by Quarter for Eaton Corporation, PLC (NYSE:ETN)

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