Caisse DE Depot ET Placement DU Quebec cut its position in Eaton Corporation, PLC (NYSE:ETN) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 175,898 shares of the industrial products company’s stock after selling 2,800 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Eaton Corporation, PLC were worth $13,057,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in ETN. Vanguard Group Inc. increased its position in 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 worth $2,250,347,000 after buying an additional 695,285 shares during the period. Tompkins Financial Corp bought a new stake in Eaton Corporation, PLC during the first quarter worth about $124,000. Sumitomo Life Insurance Co. raised its stake in Eaton Corporation, PLC by 1.5% in the first quarter. Sumitomo Life Insurance Co. now owns 36,533 shares of the industrial products company’s stock worth $2,709,000 after buying an additional 541 shares during the period. Bancorpsouth Inc. raised its stake in Eaton Corporation, PLC by 3.2% in the first quarter. Bancorpsouth Inc. now owns 36,797 shares of the industrial products company’s stock worth $2,728,000 after buying an additional 1,149 shares during the period. Finally, NBT Bank N A NY raised its stake in Eaton Corporation, PLC by 1.2% in the first quarter. NBT Bank N A NY now owns 12,260 shares of the industrial products company’s stock worth $909,000 after buying an additional 151 shares during the period. Institutional investors own 76.32% of the company’s stock.

Shares of Eaton Corporation, PLC (ETN) traded up 1.25% on Friday, hitting $74.53. The stock had a trading volume of 2,778,315 shares. Eaton Corporation, PLC has a 1-year low of $59.07 and a 1-year high of $81.63. The stock has a market cap of $33.15 billion, a P/E ratio of 17.09 and a beta of 1.35. The firm’s 50-day moving average is $78.18 and its 200 day moving average is $74.86.

Eaton Corporation, PLC (NYSE:ETN) last issued its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by $0.01. Eaton Corporation, PLC had a net margin of 9.95% and a return on equity of 12.93%. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the firm earned $1.07 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. Equities analysts forecast that Eaton Corporation, PLC will post $4.63 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Friday, August 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $2.40 annualized dividend and a yield of 3.22%. Eaton Corporation, PLC’s dividend payout ratio is 54.79%.

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ETN has been the subject of a number of recent research reports. Barclays PLC set a $81.00 target price on Eaton Corporation, PLC and gave the company a “hold” rating in a research note on Tuesday, May 2nd. Wolfe Research initiated coverage on Eaton Corporation, PLC in a research note on Tuesday, July 11th. They issued a “market perform” rating for the company. Zacks Investment Research upgraded Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research note on Wednesday, July 5th. BidaskClub lowered Eaton Corporation, PLC from a “hold” rating to a “sell” rating in a research note on Monday. Finally, JMP Securities initiated coverage on Eaton Corporation, PLC in a research note on Monday, June 19th. They issued a “market perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $78.54.

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)

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