Eaton Corporation, PLC (ETN) Position Lifted by Speece Thorson Capital Group Inc.

Speece Thorson Capital Group Inc. increased its stake in shares of Eaton Corporation, PLC (NYSE:ETN) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 243,975 shares of the industrial products company’s stock after buying an additional 16,723 shares during the quarter. Eaton Corporation, PLC comprises approximately 3.9% of Speece Thorson Capital Group Inc.’s holdings, making the stock its 5th largest position. Speece Thorson Capital Group Inc. owned 0.05% of Eaton Corporation, PLC worth $18,735,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Guardian Life Insurance Co. of America grew its stake in Eaton Corporation, PLC by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,742 shares of the industrial products company’s stock worth $129,000 after buying an additional 12 shares during the last quarter. Callahan Advisors LLC grew its stake in Eaton Corporation, PLC by 0.6% during the 2nd quarter. Callahan Advisors LLC now owns 12,132 shares of the industrial products company’s stock worth $944,000 after buying an additional 75 shares during the last quarter. First City Capital Management Inc. grew its stake in Eaton Corporation, PLC by 0.6% during the 1st quarter. First City Capital Management Inc. now owns 17,365 shares of the industrial products company’s stock worth $1,288,000 after buying an additional 100 shares during the last quarter. Snow Capital Management LP grew its stake in Eaton Corporation, PLC by 0.4% during the 1st quarter. Snow Capital Management LP now owns 34,532 shares of the industrial products company’s stock worth $2,561,000 after buying an additional 127 shares during the last quarter. Finally, Columbia Asset Management grew its stake in Eaton Corporation, PLC by 4.4% during the 1st quarter. Columbia Asset Management now owns 3,550 shares of the industrial products company’s stock worth $263,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Shares of Eaton Corporation, PLC (ETN) traded down 0.081% during mid-day trading on Monday, hitting $79.705. The stock had a trading volume of 1,388,653 shares. Eaton Corporation, PLC has a 12-month low of $59.07 and a 12-month high of $81.63. The firm’s 50-day moving average price is $77.49 and its 200 day moving average price is $76.25. The stock has a market cap of $35.45 billion, a price-to-earnings ratio of 18.273 and a beta of 1.36.

Eaton Corporation, PLC (NYSE:ETN) last released its earnings results on Tuesday, August 1st. The industrial products company reported $1.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.01). The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.14 billion. Eaton Corporation, PLC had a net margin of 9.95% and a return on equity of 12.93%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the business posted $1.07 earnings per share. Equities analysts forecast that Eaton Corporation, PLC will post $4.59 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Friday, November 3rd will be paid a $0.60 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $2.40 annualized dividend and a dividend yield of 3.01%. Eaton Corporation, PLC’s dividend payout ratio (DPR) is currently 54.79%.

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A number of brokerages recently commented on ETN. Royal Bank Of Canada restated a “hold” rating and set a $78.00 price objective on shares of Eaton Corporation, PLC in a research note on Wednesday, July 12th. Wolfe Research began coverage on Eaton Corporation, PLC in a research note on Tuesday, July 11th. They set a “market perform” rating for the company. Stifel Nicolaus restated a “hold” rating and set a $80.00 price objective on shares of Eaton Corporation, PLC in a research note on Friday, July 7th. Bank of America Corporation downgraded Eaton Corporation, PLC from a “buy” rating to an “underperform” rating in a research note on Tuesday, October 17th. Finally, Buckingham Research began coverage on Eaton Corporation, PLC in a research note on Tuesday, October 17th. They set a “neutral” rating and a $82.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $81.38.

In other news, Director Deborah L. Mccoy sold 6,450 shares of Eaton Corporation, PLC stock in a transaction 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 sale, the director now directly owns 46,386 shares of the company’s stock, valued at approximately $3,394,063.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.80% of the stock is currently owned by company insiders.

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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