State of Alaska Department of Revenue reduced its holdings in Eaton Co. PLC (NYSE:ETN) by 0.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,126 shares of the industrial products company’s stock after selling 726 shares during the period. State of Alaska Department of Revenue’s holdings in Eaton were worth $11,284,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. Stephens Inc. AR increased its position in Eaton by 5.2% during the second quarter. Stephens Inc. AR now owns 75,832 shares of the industrial products company’s stock worth $5,668,000 after purchasing an additional 3,775 shares during the last quarter. South Texas Money Management Ltd. increased its position in Eaton by 13.9% during the second quarter. South Texas Money Management Ltd. now owns 437,414 shares of the industrial products company’s stock worth $32,692,000 after purchasing an additional 53,275 shares during the last quarter. OppenheimerFunds Inc. increased its position in Eaton by 44.2% during the second quarter. OppenheimerFunds Inc. now owns 996,721 shares of the industrial products company’s stock worth $74,495,000 after purchasing an additional 305,393 shares during the last quarter. Independent Advisor Alliance increased its position in Eaton by 11.1% during the second quarter. Independent Advisor Alliance now owns 14,434 shares of the industrial products company’s stock worth $993,000 after purchasing an additional 1,440 shares during the last quarter. Finally, BlackRock Inc. increased its position in Eaton by 1.9% during the second quarter. BlackRock Inc. now owns 29,464,156 shares of the industrial products company’s stock worth $2,202,152,000 after purchasing an additional 539,852 shares during the last quarter. 77.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ETN opened at $81.75 on Thursday. Eaton Co. PLC has a 1-year low of $71.62 and a 1-year high of $89.85. The stock has a market cap of $37.58 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 1.58 and a beta of 1.35. The company has a quick ratio of 0.96, a current ratio of 1.47 and a debt-to-equity ratio of 0.40.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.07. Eaton had a net margin of 14.80% and a return on equity of 13.11%. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.45 billion. During the same period last year, the business earned $1.15 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities research analysts predict that Eaton Co. PLC will post 5.36 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on the stock. ValuEngine cut shares of Eaton from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Barclays raised their price objective on shares of Eaton from $71.00 to $77.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 1st. Wells Fargo & Co set a $92.00 price objective on shares of Eaton and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Zacks Investment Research cut shares of Eaton from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, Deutsche Bank set a $86.00 price objective on shares of Eaton and gave the stock a “buy” rating in a research report on Thursday, July 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $88.72.

In related news, insider Richard H. Fearon sold 25,000 shares of Eaton stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $83.29, for a total value of $2,082,250.00. Following the completion of the transaction, the insider now owns 221,459 shares in the company, valued at $18,445,320.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Deborah L. Mccoy sold 3,000 shares of Eaton stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $84.55, for a total transaction of $253,650.00. Following the completion of the transaction, the director now owns 32,936 shares of the company’s stock, valued at approximately $2,784,738.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,000 shares of company stock valued at $4,617,645. Company insiders own 0.50% of the company’s stock.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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