Eaton Co. PLC (ETN) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its stake in Eaton Co. PLC (NYSE:ETN) by 0.6% during the 1st quarter, Holdings Channel reports. The firm owned 596,613 shares of the industrial products company’s stock after selling 3,377 shares during the period. Victory Capital Management Inc.’s holdings in Eaton were worth $48,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of ETN. Nordea Investment Management AB acquired a new stake in Eaton during the third quarter worth $11,970,000. Morgan Stanley increased its stake in Eaton by 6.4% during the third quarter. Morgan Stanley now owns 4,737,065 shares of the industrial products company’s stock worth $410,845,000 after acquiring an additional 285,824 shares during the last quarter. Vanguard Group Inc increased its stake in Eaton by 0.5% during the third quarter. Vanguard Group Inc now owns 31,765,973 shares of the industrial products company’s stock worth $2,755,064,000 after acquiring an additional 150,330 shares during the last quarter. Gateway Investment Advisers LLC increased its stake in Eaton by 0.9% during the fourth quarter. Gateway Investment Advisers LLC now owns 293,849 shares of the industrial products company’s stock worth $20,176,000 after acquiring an additional 2,626 shares during the last quarter. Finally, Pennsylvania Trust Co increased its stake in Eaton by 7.5% during the fourth quarter. Pennsylvania Trust Co now owns 48,126 shares of the industrial products company’s stock worth $3,304,000 after acquiring an additional 3,360 shares during the last quarter. Institutional investors own 80.07% of the company’s stock.

Several equities research analysts have issued reports on ETN shares. Vertical Research raised Eaton from a “hold” rating to a “buy” rating in a research note on Monday, March 4th. Robert W. Baird set a $89.00 target price on Eaton and gave the stock a “buy” rating in a research note on Saturday, February 2nd. Wells Fargo & Co raised their target price on Eaton from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. They noted that the move was a valuation call. Morgan Stanley set a $82.00 target price on Eaton and gave the stock a “hold” rating in a research note on Saturday, February 2nd. Finally, Zacks Investment Research cut Eaton from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $86.79.



In related news, Director Dorothy C. Thompson bought 1,655 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average cost of $78.54 per share, for a total transaction of $129,983.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard H. Fearon sold 1,335 shares of Eaton stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $80.19, for a total value of $107,053.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,589 shares of company stock valued at $2,465,553. Company insiders own 0.70% of the company’s stock.

ETN opened at $79.15 on Wednesday. Eaton Co. PLC has a 52 week low of $64.46 and a 52 week high of $89.46. The firm has a market cap of $33.21 billion, a PE ratio of 14.68, a PEG ratio of 1.52 and a beta of 1.47. The company has a quick ratio of 0.92, a current ratio of 1.47 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. Eaton had a return on equity of 14.56% and a net margin of 10.06%. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.38 billion. During the same period last year, the business posted $1.10 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Equities research analysts predict that Eaton Co. PLC will post 5.89 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $2.84 annualized dividend and a dividend yield of 3.59%. Eaton’s dividend payout ratio is currently 52.69%.

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Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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