State of Tennessee Treasury Department lowered its position in Eaton Corporation, PLC (NYSE:ETN) by 52.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,054 shares of the industrial products company’s stock after selling 162,036 shares during the quarter. State of Tennessee Treasury Department’s holdings in Eaton Corporation, PLC were worth $11,446,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ETN. Dynamic Capital Management Ltd purchased a new position in Eaton Corporation, PLC in the first quarter valued at about $313,000. Schwab Charles Investment Management Inc. grew its stake in Eaton Corporation, PLC by 1.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 2,105,089 shares of the industrial products company’s stock valued at $156,093,000 after purchasing an additional 39,552 shares in the last quarter. Allen Investment Management LLC grew its stake in Eaton Corporation, PLC by 52.4% in the first quarter. Allen Investment Management LLC now owns 4,768 shares of the industrial products company’s stock valued at $354,000 after purchasing an additional 1,640 shares in the last quarter. Logan Capital Management Inc. grew its stake in Eaton Corporation, PLC by 1.6% in the first quarter. Logan Capital Management Inc. now owns 11,880 shares of the industrial products company’s stock valued at $881,000 after purchasing an additional 190 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Eaton Corporation, PLC in the first quarter worth about $352,000. Hedge funds and other institutional investors own 76.78% of the company’s stock.

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

Shares of Eaton Corporation, PLC (NYSE:ETN) opened at $77.86 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.43 and a debt-to-equity ratio of 0.44. Eaton Corporation, PLC has a one year low of $63.94 and a one year high of $82.34. The firm has a market cap of $34,829.43, a price-to-earnings ratio of 17.65, a P/E/G ratio of 1.95 and a beta of 1.39.

Eaton Corporation, PLC (NYSE:ETN) last released its earnings results on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.25. Eaton Corporation, PLC had a net margin of 14.21% and a return on equity of 12.89%. The business had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.12 billion. During the same quarter in the previous year, the business earned $1.16 earnings per share. Eaton Corporation, PLC’s revenue for the quarter was up 6.4% on a year-over-year basis. analysts forecast that Eaton Corporation, PLC will post 4.6 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Friday, November 3rd will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Thursday, November 2nd. Eaton Corporation, PLC’s payout ratio is presently 37.68%.

ETN has been the subject of a number of analyst reports. Citigroup Inc. boosted their price target on Eaton Corporation, PLC from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. ValuEngine raised Eaton Corporation, PLC from a “hold” rating to a “buy” rating in a research report on Friday, September 15th. Zacks Investment Research cut Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. BidaskClub cut Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, 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. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $82.86.

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

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