PGGM Investments grew its holdings in shares of Eaton Corporation, PLC (NYSE:ETN) by 142.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 703,839 shares of the industrial products company’s stock after acquiring an additional 413,096 shares during the quarter. PGGM Investments owned 0.16% of Eaton Corporation, PLC worth $54,048,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of America Corp DE increased its stake in shares of Eaton Corporation, PLC by 17.0% in the first quarter. Bank of America Corp DE now owns 6,407,605 shares of the industrial products company’s stock valued at $475,123,000 after buying an additional 932,400 shares during the period. Vanguard Group Inc. increased its stake in shares of 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 valued at $2,250,347,000 after buying an additional 695,285 shares during the period. Lazard Asset Management LLC increased its stake in shares of Eaton Corporation, PLC by 8.2% in the first quarter. Lazard Asset Management LLC now owns 5,849,259 shares of the industrial products company’s stock valued at $433,722,000 after buying an additional 443,090 shares during the period. Matrix Asset Advisors Inc. NY increased its stake in shares of Eaton Corporation, PLC by 0.5% in the second quarter. Matrix Asset Advisors Inc. NY now owns 312,454 shares of the industrial products company’s stock valued at $24,318,000 after buying an additional 1,455 shares during the period. Finally, UBS Group AG increased its stake in shares of Eaton Corporation, PLC by 1.6% in the first quarter. UBS Group AG now owns 1,810,784 shares of the industrial products company’s stock valued at $134,270,000 after buying an additional 28,426 shares during the period. 75.84% of the stock is owned by hedge funds and other institutional investors.

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ETN has been the subject of several recent research reports. Zacks Investment Research raised Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research note on Wednesday, July 5th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Eaton Corporation, PLC in a research note on Friday, July 7th. 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. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $78.00 price objective on shares of Eaton Corporation, PLC in a research note on Wednesday, July 12th. Finally, BidaskClub downgraded Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Eaton Corporation, PLC has a consensus rating of “Hold” and an average price target of $81.38.

Eaton Corporation, PLC (NYSE:ETN) traded up 1.17% during trading on Friday, hitting $78.93. The company’s stock had a trading volume of 2,560,550 shares. The firm has a 50 day moving average of $76.53 and a 200 day moving average of $76.10. Eaton Corporation, PLC has a 12 month low of $59.07 and a 12 month high of $81.63. The firm has a market cap of $35.11 billion, a P/E ratio of 18.09 and a beta of 1.36.

Eaton Corporation, PLC (NYSE:ETN) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $1.15 EPS for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.01). The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Eaton Corporation, PLC had a return on equity of 12.93% and a net margin of 9.95%. Eaton Corporation, PLC’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the firm earned $1.07 earnings per share. Equities research analysts predict that Eaton Corporation, PLC will post $4.59 earnings per share for the current year.

In other news, Director Deborah L. Mccoy sold 6,450 shares of Eaton Corporation, PLC stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $73.17, for a total value of $471,946.50. Following the sale, the director now directly owns 46,386 shares in the company, valued at approximately $3,394,063.62. The sale was disclosed in a filing with the SEC, which is available through this link. 0.80% of the stock is currently owned by company insiders.

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.

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

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