State of Alaska Department of Revenue Sells 726 Shares of Eaton Co. PLC (ETN)

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

A number of other institutional investors have also recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Eaton during the 1st quarter worth approximately $2,989,000. Silvercrest Asset Management Group LLC lifted its position in shares of Eaton by 4.1% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 451,295 shares of the industrial products company’s stock worth $36,063,000 after buying an additional 17,916 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Eaton by 3.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 591,193 shares of the industrial products company’s stock worth $47,242,000 after buying an additional 21,396 shares during the last quarter. United Capital Financial Advisers LLC lifted its position in shares of Eaton by 1.5% during the 1st quarter. United Capital Financial Advisers LLC now owns 205,348 shares of the industrial products company’s stock worth $16,409,000 after buying an additional 3,039 shares during the last quarter. Finally, Ancora Advisors LLC lifted its position in shares of Eaton by 9.9% during the 1st quarter. Ancora Advisors LLC now owns 131,855 shares of the industrial products company’s stock worth $10,537,000 after buying an additional 11,848 shares during the last quarter. Institutional investors own 77.54% of the company’s stock.

ETN stock opened at $81.75 on Thursday. Eaton Co. PLC has a 12 month low of $71.62 and a 12 month high of $89.85. The firm has a market capitalization of $37.58 billion, a P/E ratio of 17.58, a price-to-earnings-growth 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 data on Tuesday, July 31st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.07. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.45 billion. Eaton had a net margin of 14.80% and a return on equity of 13.11%. Eaton’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.15 EPS. On average, equities research analysts forecast that Eaton Co. PLC will post 5.36 earnings per share for the current fiscal year.

Several analysts have recently weighed in on the stock. ValuEngine downgraded shares of Eaton from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Barclays boosted 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 downgraded 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 target on shares of Eaton and gave the company a “buy” rating in a research report on Thursday, July 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $88.72.

In other Eaton news, Director Deborah L. Mccoy sold 3,000 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $84.55, for a total value of $253,650.00. Following the transaction, the director now directly owns 32,936 shares of the company’s stock, valued at approximately $2,784,738.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Revathi Advaithi sold 15,500 shares of the business’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $82.98, for a total transaction of $1,286,190.00. Following the completion of the transaction, the insider now directly owns 24,715 shares in the company, valued at $2,050,850.70. The disclosure for this sale can be found here. Insiders sold a total of 55,000 shares of company stock worth $4,617,645 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

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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