JPMorgan Chase & Co. cut its position in Eaton Corp. PLC (NYSE:ETN) by 11.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,210,137 shares of the company’s stock after selling 661,867 shares during the period. JPMorgan Chase & Co. owned approximately 1.15% of Eaton Corp. PLC worth $342,359,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Physicians Financial Services Inc. raised its stake in shares of Eaton Corp. PLC by 111.7% in the second quarter. Physicians Financial Services Inc. now owns 1,706 shares of the company’s stock worth $102,000 after buying an additional 900 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in shares of Eaton Corp. PLC by 2.8% in the second quarter. Kistler Tiffany Companies LLC now owns 1,809 shares of the company’s stock worth $108,000 after buying an additional 49 shares during the last quarter. Ropes Wealth Advisors LLC raised its stake in shares of Eaton Corp. PLC by 1.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,863 shares of the company’s stock worth $111,000 after buying an additional 22 shares during the last quarter. American National Bank raised its stake in shares of Eaton Corp. PLC by 171.6% in the second quarter. American National Bank now owns 1,915 shares of the company’s stock worth $114,000 after buying an additional 1,210 shares during the last quarter. Finally, Signaturefd LLC raised its stake in shares of Eaton Corp. PLC by 35.9% in the second quarter. Signaturefd LLC now owns 1,933 shares of the company’s stock worth $115,000 after buying an additional 511 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Institutional Ownership by Quarter for Eaton Corp. PLC (NYSE:ETN)

Eaton Corp. PLC (NYSE:ETN) opened at 65.98 on Tuesday. The company has a 50-day moving average of $64.07 and a 200-day moving average of $63.59. The company has a market cap of $29.80 billion, a P/E ratio of 15.59 and a beta of 1.36. Eaton Corp. PLC has a 52 week low of $46.19 and a 52 week high of $68.95.

Eaton Corp. PLC (NYSE:ETN) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.15. Eaton Corp. PLC had a net margin of 9.78% and a return on equity of 12.73%. The company earned $5 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the company earned $0.96 EPS. Eaton Corp. PLC’s revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts predict that Eaton Corp. PLC will post $4.20 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $2.28 annualized dividend and a yield of 3.46%. Eaton Corp. PLC’s dividend payout ratio is presently 53.65%.

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A number of brokerages have issued reports on ETN. RBC Capital Markets cut their price target on Eaton Corp. PLC from $68.00 to $65.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 2nd. Deutsche Bank AG restated a “hold” rating and set a $65.00 price objective on shares of Eaton Corp. PLC in a research report on Thursday, August 25th. HSBC assumed coverage on Eaton Corp. PLC in a research report on Friday, October 7th. They set a “buy” rating and a $74.00 price objective for the company. Jefferies Group restated a “hold” rating on shares of Eaton Corp. PLC in a research report on Friday, August 5th. Finally, Barclays PLC raised their price objective on Eaton Corp. PLC from $67.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. Eaton Corp. PLC has an average rating of “Hold” and an average target price of $64.37.

In related news, Director Michael J. Critelli sold 13,000 shares of the company’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $64.26, for a total transaction of $835,380.00. Following the completion of the sale, the director now owns 70,566 shares of the company’s stock, valued at approximately $4,534,571.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Christopher M. Connor sold 6,504 shares of the company’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $65.59, for a total transaction of $426,597.36. Following the sale, the director now directly owns 20,154 shares of the company’s stock, valued at approximately $1,321,900.86. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

Eaton Corp. 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.

5 Day Chart for NYSE:ETN

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