Investors purchased shares of Eaton Corporation, PLC (NYSE:ETN) on weakness during trading hours on Thursday. $42.57 million flowed into the stock on the tick-up and $19.81 million flowed out of the stock on the tick-down, for a money net flow of $22.76 million into the stock. Of all companies tracked, Eaton Corporation, PLC had the 21st highest net in-flow for the day. Eaton Corporation, PLC traded down ($0.26) for the day and closed at $77.80

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada reissued a “hold” rating and issued a $78.00 target price on shares of Eaton Corporation, PLC in a research note on Wednesday, July 12th. Wolfe Research assumed coverage on shares of Eaton Corporation, PLC in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. Stifel Nicolaus reissued a “hold” rating and issued a $80.00 target price on shares of Eaton Corporation, PLC in a research note on Friday, July 7th. BidaskClub downgraded shares of Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Zacks Investment Research downgraded shares of Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $80.31.

The firm’s 50 day moving average price is $74.13 and its 200-day moving average price is $75.69. The stock has a market capitalization of $34.61 billion, a price-to-earnings ratio of 17.84 and a beta of 1.36.

Eaton Corporation, PLC (NYSE:ETN) last issued its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $1.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.01). Eaton Corporation, PLC had a return on equity of 12.93% and a net margin of 9.95%. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the firm posted $1.07 earnings per share. Eaton Corporation, PLC’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Eaton Corporation, PLC will post $4.61 earnings per share for the current year.

In related news, Director Deborah L. Mccoy sold 6,450 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $73.17, for a total transaction of $471,946.50. Following the transaction, the director now owns 46,386 shares of the company’s stock, valued at $3,394,063.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Wealthsource Partners LLC bought a new position in Eaton Corporation, PLC during the second quarter worth $226,000. Sterling Capital Management LLC increased its position in Eaton Corporation, PLC by 1.6% during the second quarter. Sterling Capital Management LLC now owns 130,072 shares of the industrial products company’s stock worth $10,124,000 after acquiring an additional 2,053 shares during the period. Colonial Trust Advisors increased its position in Eaton Corporation, PLC by 89.9% during the second quarter. Colonial Trust Advisors now owns 32,466 shares of the industrial products company’s stock worth $2,527,000 after acquiring an additional 15,371 shares during the period. Sandhill Capital Partners LLC increased its position in Eaton Corporation, PLC by 1.9% during the second quarter. Sandhill Capital Partners LLC now owns 239,555 shares of the industrial products company’s stock worth $18,645,000 after acquiring an additional 4,458 shares during the period. Finally, Cibc World Markets Corp increased its position in Eaton Corporation, PLC by 34.6% during the second quarter. Cibc World Markets Corp now owns 63,203 shares of the industrial products company’s stock worth $4,919,000 after acquiring an additional 16,252 shares during the period. 75.87% of the stock is currently owned by institutional investors and hedge funds.

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About Eaton Corporation, 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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