Kernodle & Katon Asset Management Group LLC Raises Stake in Eaton Corporation, PLC (ETN)

Kernodle & Katon Asset Management Group LLC increased its position in shares of Eaton Corporation, PLC (NYSE:ETN) by 47.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,348 shares of the industrial products company’s stock after buying an additional 751 shares during the period. Kernodle & Katon Asset Management Group LLC’s holdings in Eaton Corporation, PLC were worth $174,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ETN. Wellington Management Group LLP increased its position in Eaton Corporation, PLC by 2.4% in the first quarter. Wellington Management Group LLP now owns 37,607,505 shares of the industrial products company’s stock valued at $2,788,596,000 after buying an additional 875,616 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Eaton Corporation, PLC by 2.3% in the first quarter. Vanguard Group Inc. now owns 30,348,561 shares of the industrial products company’s stock valued at $2,250,347,000 after buying an additional 695,285 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Eaton Corporation, PLC by 2,830.8% in the first quarter. BlackRock Inc. now owns 29,114,265 shares of the industrial products company’s stock valued at $2,158,821,000 after buying an additional 28,120,890 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Eaton Corporation, PLC by 1.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,762,234 shares of the industrial products company’s stock valued at $723,870,000 after buying an additional 170,461 shares during the last quarter. Finally, FMR LLC boosted its stake in Eaton Corporation, PLC by 9.5% in the first quarter. FMR LLC now owns 9,180,438 shares of the industrial products company’s stock worth $680,729,000 after buying an additional 794,975 shares in the last quarter. 76.30% of the stock is currently owned by institutional investors and hedge funds.

Shares of Eaton Corporation, PLC (NYSE ETN) traded down 0.74% during mid-day trading on Friday, reaching $78.97. 2,436,414 shares of the company’s stock were exchanged. Eaton Corporation, PLC has a 52-week low of $59.07 and a 52-week high of $81.63. The company has a 50 day moving average price of $77.76 and a 200 day moving average price of $74.22. The firm has a market cap of $35.32 billion, a P/E ratio of 18.40 and a beta of 1.35.

Eaton Corporation, PLC (NYSE:ETN) last posted its quarterly earnings data on Tuesday, May 2nd. The industrial products company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate 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 revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 earnings per share. Analysts forecast that Eaton Corporation, PLC will post $4.66 earnings per share for the current fiscal year.

WARNING: This story was first reported by BBNS and is the sole property of of BBNS. If you are reading this story on another domain, it was stolen and reposted in violation of United States & international copyright law. The original version of this story can be accessed at https://baseballnewssource.com/markets/kernodle-katon-asset-management-group-llc-raises-position-in-eaton-corporation-plc-etn-updated/1180023.html.

A number of research firms have issued reports on ETN. Royal Bank Of Canada reiterated a “hold” rating and set a $78.00 target price on shares of Eaton Corporation, PLC in a report on Wednesday, July 12th. Wolfe Research began coverage on shares of Eaton Corporation, PLC in a research note on Tuesday, July 11th. They set a “market perform” rating for the company. Stifel Nicolaus restated a “hold” rating and set a $80.00 price objective on shares of Eaton Corporation, PLC in a research note on Friday, July 7th. Zacks Investment Research upgraded shares of Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research note on Wednesday, July 5th. Finally, JMP Securities began coverage on shares of Eaton Corporation, PLC in a research note on Monday, June 19th. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $78.54.

In other news, insider Uday Yadav sold 3,034 shares of the business’s stock in a transaction 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 transaction, the insider now owns 22,601 shares of the company’s stock, valued at $1,719,484.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Richard H. Fearon sold 25,000 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 236,497 shares in the company, valued at approximately $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.

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

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 our FREE daily email newsletter.

 


Latest News

Chris Sale Reaches 200 Strikeouts in Record Time
Chris Sale Reaches 200 Strikeouts in Record Time
Veteran Pitcher Bartolo Colon Considering Retirement
Veteran Pitcher Bartolo Colon Considering Retirement
Todd Frazier Traded to Yankees for Blake Rutherford and Others
Todd Frazier Traded to Yankees for Blake Rutherford and Others
Tigers Would Include Cash in Verlander Deal and Other MLB Trade Rumors
Tigers Would Include Cash in Verlander Deal and Other MLB Trade Rumors
Todd Frazier Trade to Boston Appears to Be Decided
Todd Frazier Trade to Boston Appears to Be Decided
Chicago White Sox Continue Rebuild Without Jose Quintana
Chicago White Sox Continue Rebuild Without Jose Quintana


Leave a Reply

 
© 2006-2017 BBNS.