Deprince Race & Zollo Inc. Reduces Stake in Eaton Corp. PLC (ETN)
Deprince Race & Zollo Inc. cut its position in Eaton Corp. PLC (NYSE:ETN) by 5.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 575,100 shares of the company’s stock after selling 34,880 shares during the period. Deprince Race & Zollo Inc. owned 0.13% of Eaton Corp. PLC worth $34,351,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of ETN. Virginia Retirement System acquired a new position in Eaton Corp. PLC during the first quarter worth about $469,000. Los Angeles Capital Management & Equity Research Inc. increased its position in Eaton Corp. PLC by 268.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 18,331 shares of the company’s stock worth $1,147,000 after buying an additional 13,360 shares during the last quarter. Ngam Advisors L.P. increased its position in Eaton Corp. PLC by 76.3% in the first quarter. Ngam Advisors L.P. now owns 155,177 shares of the company’s stock worth $9,707,000 after buying an additional 67,155 shares during the last quarter. Teachers Advisors Inc. increased its position in Eaton Corp. PLC by 5.3% in the first quarter. Teachers Advisors Inc. now owns 694,226 shares of the company’s stock worth $43,431,000 after buying an additional 34,789 shares during the last quarter. Finally, Bancorpsouth Inc. acquired a new position in Eaton Corp. PLC during the first quarter worth about $1,849,000. 74.34% of the stock is currently owned by institutional investors.
Eaton Corp. PLC (NYSE:ETN) traded up 0.24% on Monday, reaching $65.87. 2,566,006 shares of the company’s stock were exchanged. Eaton Corp. PLC has a one year low of $46.19 and a one year high of $68.20. The firm has a 50 day moving average price of $65.55 and a 200 day moving average price of $63.03. The firm has a market cap of $29.95 billion, a PE ratio of 16.26 and a beta of 1.54.
Eaton Corp. PLC (NYSE:ETN) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.07 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.07. Eaton Corp. PLC had a return on equity of 12.28% and a net margin of 9.29%. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the prior year, the firm posted $1.16 EPS. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, equities analysts anticipate that Eaton Corp. PLC will post $4.28 earnings per share for the current year.
ETN has been the topic of a number of research reports. Sanford C. Bernstein reissued a “market perform” rating on shares of Eaton Corp. PLC in a report on Monday, June 27th. Zacks Investment Research downgraded shares of Eaton Corp. PLC from a “buy” rating to a “hold” rating in a report on Friday, July 1st. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Eaton Corp. PLC in a report on Saturday, July 9th. Bank of America Corp. downgraded shares of Eaton Corp. PLC from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a report on Thursday, July 14th. They noted that the move was a valuation call. Finally, Barclays PLC lifted their price target on shares of Eaton Corp. PLC from $67.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, August 3rd. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have issued a buy rating to the stock. Eaton Corp. PLC currently has an average rating of “Hold” and an average target price of $62.57.
In other news, insider Mark M. Mcguire sold 18,751 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $64.55, for a total transaction of $1,210,377.05. Following the transaction, the insider now owns 51,447 shares in the company, valued at approximately $3,320,903.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Uday Yadav sold 15,713 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $67.05, for a total value of $1,053,556.65. Following the transaction, the insider now owns 22,601 shares in the company, valued at approximately $1,515,397.05. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.
About Eaton Corp. PLC
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.
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