Stellar Capital Management LLC Has $2.63 Million Stake in Eaton Corporation, PLC (ETN)

Stellar Capital Management LLC cut its position in Eaton Corporation, PLC (NYSE:ETN) by 1.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,449 shares of the industrial products company’s stock after selling 515 shares during the period. Eaton Corporation, PLC makes up approximately 2.0% of Stellar Capital Management LLC’s holdings, making the stock its 20th largest position. Stellar Capital Management LLC’s holdings in Eaton Corporation, PLC were worth $2,629,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Eaton Corporation, PLC by 2.4% in the first quarter. Wellington Management Group LLP now owns 37,607,505 shares of the industrial products company’s stock worth $2,788,596,000 after buying an additional 875,616 shares during the last quarter. Vanguard Group Inc. boosted 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 worth $2,250,347,000 after buying an additional 695,285 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Eaton Corporation, PLC by 2,830.8% in the first quarter. BlackRock Inc. now owns 29,114,265 shares of the industrial products company’s stock worth $2,158,821,000 after buying an additional 28,120,890 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Eaton Corporation, PLC by 1.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,762,234 shares of the industrial products company’s stock worth $723,870,000 after buying an additional 170,461 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Eaton Corporation, PLC by 9.5% in the first quarter. FMR LLC now owns 9,180,438 shares of the industrial products company’s stock worth $680,729,000 after buying an additional 794,975 shares during the last quarter. Hedge funds and other institutional investors own 76.59% of the company’s stock.

Shares of Eaton Corporation, PLC (ETN) traded down 0.24% during mid-day trading on Friday, hitting $71.48. The stock had a trading volume of 1,294,693 shares. The company has a market capitalization of $31.79 billion, a P/E ratio of 16.39 and a beta of 1.35. Eaton Corporation, PLC has a 1-year low of $59.07 and a 1-year high of $81.63. The stock’s 50-day moving average price is $77.56 and its 200 day moving average price is $75.00.

Eaton Corporation, PLC (NYSE:ETN) last released its earnings results on Tuesday, August 1st. The industrial products company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by $0.01. Eaton Corporation, PLC had a net margin of 9.95% and a return on equity of 12.93%. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the firm posted $1.07 EPS. The company’s revenue was up 1.0% on a year-over-year basis. On average, analysts predict that Eaton Corporation, PLC will post $4.61 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Friday, August 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Wednesday, August 2nd. Eaton Corporation, PLC’s dividend payout ratio (DPR) is presently 54.79%.

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Several equities research analysts have recently weighed in on ETN shares. Barclays PLC set a $81.00 price objective on Eaton Corporation, PLC and gave the company a “hold” rating in a research report on Tuesday, May 2nd. Wolfe Research started coverage on Eaton Corporation, PLC in a research report on Tuesday, July 11th. They issued a “market perform” rating for the company. 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 report on Wednesday, July 5th. BidaskClub cut Eaton Corporation, PLC from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, JMP Securities started coverage on Eaton Corporation, PLC in a research report on Monday, June 19th. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $78.54.

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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