M&R Capital Management Inc. lowered its position in shares of Eaton Corporation, PLC (NYSE:ETN) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,360 shares of the industrial products company’s stock after selling 100 shares during the quarter. M&R Capital Management Inc.’s holdings in Eaton Corporation, PLC were worth $240,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ETN. Harfst & Associates Inc. purchased a new position in shares of Eaton Corporation, PLC in the 1st quarter worth about $109,000. Guardian Life Insurance Co. of America raised its position in shares of Eaton Corporation, PLC by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,742 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 12 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Eaton Corporation, PLC in the 2nd quarter worth about $133,000. Citizens Financial Group Inc. RI raised its position in shares of Eaton Corporation, PLC by 168.8% in the 1st quarter. Citizens Financial Group Inc. RI now owns 2,059 shares of the industrial products company’s stock worth $153,000 after purchasing an additional 1,293 shares during the last quarter. Finally, Acrospire Investment Management LLC raised its position in shares of Eaton Corporation, PLC by 325.9% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,091 shares of the industrial products company’s stock worth $163,000 after purchasing an additional 1,600 shares during the last quarter. 75.87% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently issued reports on ETN. Morgan Stanley reaffirmed an “overweight” rating and issued a $88.00 price target (up previously from $87.00) on shares of Eaton Corporation, PLC in a research report on Monday, October 2nd. ValuEngine raised Eaton Corporation, PLC from a “hold” rating to a “buy” rating in a research report on Friday, September 15th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $75.00 price target on shares of Eaton Corporation, PLC in a research report on Thursday, August 24th. J P Morgan Chase & Co lowered Eaton Corporation, PLC from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $73.00 to $70.00 in a research report on Thursday, August 17th. Finally, BidaskClub lowered Eaton Corporation, PLC from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $80.83.

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In other news, Director Deborah L. Mccoy sold 6,450 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $73.17, for a total value of $471,946.50. Following the completion of the transaction, the director now directly owns 46,386 shares in the company, valued at $3,394,063.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.80% of the company’s stock.

Eaton Corporation, PLC (NYSE ETN) traded up 0.44% during midday trading on Wednesday, reaching $78.32. The company had a trading volume of 510,951 shares. The firm has a 50-day moving average of $74.83 and a 200 day moving average of $75.86. The company has a market capitalization of $34.84 billion, a P/E ratio of 17.96 and a beta of 1.36. Eaton Corporation, PLC has a 1-year low of $59.07 and a 1-year high of $81.63.

Eaton Corporation, PLC (NYSE:ETN) last announced its quarterly earnings data 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 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 analysts’ expectations of $5.14 billion. During the same quarter in the previous year, the business earned $1.07 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts forecast that Eaton Corporation, PLC will post $4.61 EPS for the current year.

Eaton Corporation, PLC 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.

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Institutional Ownership by Quarter for Eaton Corporation, PLC (NYSE:ETN)

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