Eaton Co. PLC (NYSE:ETN) Shares Sold by Silver Lake Advisory LLC

Silver Lake Advisory LLC reduced its position in Eaton Co. PLC (NYSE:ETN) by 1.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,873 shares of the industrial products company’s stock after selling 507 shares during the quarter. Eaton comprises approximately 1.8% of Silver Lake Advisory LLC’s portfolio, making the stock its 24th biggest position. Silver Lake Advisory LLC’s holdings in Eaton were worth $2,738,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Pendal Group Ltd raised its position in Eaton by 261.7% in the second quarter. Pendal Group Ltd now owns 77,572 shares of the industrial products company’s stock worth $6,460,000 after acquiring an additional 56,128 shares in the last quarter. Blue Chip Partners Inc. raised its position in Eaton by 7.5% in the second quarter. Blue Chip Partners Inc. now owns 86,910 shares of the industrial products company’s stock worth $7,238,000 after acquiring an additional 6,073 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in Eaton by 9.4% in the second quarter. CIBC Private Wealth Group LLC now owns 41,296 shares of the industrial products company’s stock worth $3,438,000 after acquiring an additional 3,540 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its position in Eaton by 10.8% in the second quarter. Kornitzer Capital Management Inc. KS now owns 2,781 shares of the industrial products company’s stock worth $232,000 after acquiring an additional 270 shares in the last quarter. Finally, CWM LLC raised its position in Eaton by 0.9% in the second quarter. CWM LLC now owns 33,034 shares of the industrial products company’s stock worth $2,751,000 after acquiring an additional 280 shares in the last quarter. 77.35% of the stock is owned by institutional investors and hedge funds.

Shares of ETN stock traded down $2.24 during mid-day trading on Wednesday, reaching $75.71. The stock had a trading volume of 984,165 shares, compared to its average volume of 2,398,159. Eaton Co. PLC has a 12-month low of $64.46 and a 12-month high of $89.46. The firm has a market capitalization of $32.54 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.54 and a beta of 1.44. The firm’s 50-day moving average is $80.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.18 and a current ratio of 1.83.



Eaton (NYSE:ETN) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Eaton had a return on equity of 14.88% and a net margin of 10.16%. The business had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $5.63 billion. During the same quarter last year, the business posted $1.39 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts forecast that Eaton Co. PLC will post 5.88 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, August 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Thursday, August 1st. Eaton’s payout ratio is currently 52.69%.

A number of research analysts have recently weighed in on ETN shares. Morgan Stanley raised their price target on Eaton from $88.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Barclays restated a “sell” rating and issued a $76.00 price target on shares of Eaton in a research report on Thursday, June 6th. Royal Bank of Canada set a $84.00 price target on Eaton and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, Deutsche Bank set a $96.00 price target on Eaton and gave the company a “buy” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $88.55.

In related news, insider Richard H. Fearon sold 80,592 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $82.75, for a total transaction of $6,668,988.00. Following the sale, the insider now owns 270,097 shares of the company’s stock, valued at $22,350,526.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joao V. Faria sold 4,301 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $80.00, for a total value of $344,080.00. Following the sale, the insider now directly owns 58,688 shares in the company, valued at approximately $4,695,040. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.

About Eaton

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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