Fairfield Bush & CO. Continues to Hold Stake in Eaton Corporation, PLC (ETN)

Fairfield Bush & CO. maintained its stake in shares of Eaton Corporation, PLC (NYSE:ETN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,730 shares of the industrial products company’s stock at the close of the second quarter. Fairfield Bush & CO.’s holdings in Eaton Corporation, PLC were worth $679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Colonial Trust Advisors boosted its position in Eaton Corporation, PLC by 89.9% during the second quarter. Colonial Trust Advisors now owns 32,466 shares of the industrial products company’s stock valued at $2,527,000 after purchasing an additional 15,371 shares during the last quarter. Sandhill Capital Partners LLC boosted its position in Eaton Corporation, PLC by 1.9% during the second quarter. Sandhill Capital Partners LLC now owns 239,555 shares of the industrial products company’s stock valued at $18,645,000 after purchasing an additional 4,458 shares during the last quarter. Cibc World Markets Corp boosted its position in Eaton Corporation, PLC by 34.6% during the second quarter. Cibc World Markets Corp now owns 63,203 shares of the industrial products company’s stock valued at $4,919,000 after purchasing an additional 16,252 shares during the last quarter. Harfst & Associates Inc. boosted its position in Eaton Corporation, PLC by 21.8% during the second quarter. Harfst & Associates Inc. now owns 1,798 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 322 shares during the last quarter. Finally, Pinebridge Investments L.P. boosted its position in Eaton Corporation, PLC by 55.2% during the second quarter. Pinebridge Investments L.P. now owns 5,903 shares of the industrial products company’s stock valued at $459,000 after purchasing an additional 2,099 shares during the last quarter. 75.87% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently commented on ETN. Stifel Nicolaus reissued a “hold” rating and set a $80.00 price target on shares of Eaton Corporation, PLC in a research report on Friday, July 7th. BidaskClub cut Eaton Corporation, PLC from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Royal Bank Of Canada reissued a “hold” rating and set a $78.00 price target on shares of Eaton Corporation, PLC in a research report on Wednesday, July 12th. Zacks Investment Research cut Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, ValuEngine raised Eaton Corporation, PLC from a “hold” rating to a “buy” rating in a research report on Friday, September 15th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. Eaton Corporation, PLC presently has an average rating of “Hold” and a consensus target price of $80.83.

In other news, Director Deborah L. Mccoy sold 6,450 shares of the company’s 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 completion of the transaction, the director now directly owns 46,386 shares of the company’s stock, valued at $3,394,063.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company’s stock.

Eaton Corporation, PLC (ETN) traded up 0.303% during mid-day trading on Tuesday, hitting $77.915. The stock had a trading volume of 664,942 shares. The firm’s 50-day moving average price is $74.63 and its 200-day moving average price is $75.82. The stock has a market cap of $34.66 billion, a PE ratio of 17.862 and a beta of 1.36. Eaton Corporation, PLC has a 1-year low of $59.07 and a 1-year high of $81.63.

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

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Eaton Corporation, PLC Profile

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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