Goelzer Investment Management Inc. Buys 1,244 Shares of Eaton Corporation, PLC (ETN)

Goelzer Investment Management Inc. grew its stake in Eaton Corporation, PLC (NYSE:ETN) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,873 shares of the industrial products company’s stock after purchasing an additional 1,244 shares during the period. Goelzer Investment Management Inc.’s holdings in Eaton Corporation, PLC were worth $5,058,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Guardian Life Insurance Co. of America grew its holdings in Eaton Corporation, PLC by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,742 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 12 shares during the period. Callahan Advisors LLC grew its holdings in Eaton Corporation, PLC by 0.6% during the second quarter. Callahan Advisors LLC now owns 12,132 shares of the industrial products company’s stock worth $944,000 after acquiring an additional 75 shares during the period. First City Capital Management Inc. grew its holdings in Eaton Corporation, PLC by 0.6% during the first quarter. First City Capital Management Inc. now owns 17,365 shares of the industrial products company’s stock worth $1,288,000 after acquiring an additional 100 shares during the period. Snow Capital Management LP grew its holdings in Eaton Corporation, PLC by 0.4% during the first quarter. Snow Capital Management LP now owns 34,532 shares of the industrial products company’s stock worth $2,561,000 after acquiring an additional 127 shares during the period. Finally, Logan Capital Management Inc. grew its holdings in Eaton Corporation, PLC by 1.6% during the first quarter. Logan Capital Management Inc. now owns 11,880 shares of the industrial products company’s stock worth $881,000 after acquiring an additional 190 shares during the period. 76.03% of the stock is currently owned by institutional investors and hedge funds.

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Eaton Corporation, PLC (NYSE:ETN) last issued its earnings results on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.25. The business had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.12 billion. Eaton Corporation, PLC had a return on equity of 12.89% and a net margin of 14.21%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 EPS.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Friday, November 3rd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Thursday, November 2nd. Eaton Corporation, PLC’s payout ratio is 37.68%.

In other news, Director Deborah L. Mccoy sold 6,450 shares of the firm’s 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 owns 46,386 shares of the company’s stock, valued at $3,394,063.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.80% of the company’s stock.

A number of brokerages recently weighed in on ETN. Stifel Nicolaus reaffirmed a “hold” rating and set a $80.00 price objective on shares of Eaton Corporation, PLC in a report on Friday, July 7th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Eaton Corporation, PLC in a report on Tuesday. Citigroup Inc. upped their price objective on Eaton Corporation, PLC from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday. Buckingham Research began coverage on Eaton Corporation, PLC in a report on Tuesday, October 17th. They set a “neutral” rating and a $82.00 price objective on the stock. Finally, BidaskClub lowered Eaton Corporation, PLC from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $82.64.

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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