Eaton Co. PLC (ETN) Shares Bought by Royal Bank of Canada

Royal Bank of Canada increased its holdings in shares of Eaton Co. PLC (NYSE:ETN) by 24.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,101,854 shares of the industrial products company’s stock after buying an additional 603,784 shares during the quarter. Royal Bank of Canada’s holdings in Eaton were worth $247,870,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ETN. Baird Financial Group Inc. raised its stake in shares of Eaton by 0.5% in the 4th quarter. Baird Financial Group Inc. now owns 135,991 shares of the industrial products company’s stock valued at $10,745,000 after purchasing an additional 630 shares during the period. HPM Partners LLC raised its position in Eaton by 2.9% during the fourth quarter. HPM Partners LLC now owns 23,379 shares of the industrial products company’s stock valued at $1,847,000 after purchasing an additional 662 shares in the last quarter. Cambria Investment Management L.P. raised its position in Eaton by 2.7% during the first quarter. Cambria Investment Management L.P. now owns 25,729 shares of the industrial products company’s stock valued at $2,056,000 after purchasing an additional 668 shares in the last quarter. Segall Bryant & Hamill LLC raised its position in Eaton by 6.1% during the first quarter. Segall Bryant & Hamill LLC now owns 12,164 shares of the industrial products company’s stock valued at $972,000 after purchasing an additional 700 shares in the last quarter. Finally, Busey Trust CO raised its position in Eaton by 8.5% during the first quarter. Busey Trust CO now owns 9,029 shares of the industrial products company’s stock valued at $721,000 after purchasing an additional 706 shares in the last quarter. 78.22% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Eaton opened at $79.23 on Tuesday, MarketBeat reports. The firm has a market cap of $34.66 billion, a PE ratio of 17.04, a P/E/G ratio of 1.54 and a beta of 1.36. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.51 and a quick ratio of 1.00. Eaton Co. PLC has a 52-week low of $69.82 and a 52-week high of $89.85.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Tuesday, May 1st. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.03. The company had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.11 billion. Eaton had a net margin of 14.59% and a return on equity of 12.77%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 earnings per share. sell-side analysts anticipate that Eaton Co. PLC will post 5.22 EPS for the current year.

In related news, Director Michael J. Critelli sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $80.86, for a total value of $404,300.00. Following the sale, the director now owns 65,566 shares of the company’s stock, valued at $5,301,666.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider William J. Vanlandingham II sold 5,722 shares of the business’s stock in a transaction on Tuesday, June 5th. The stock was sold at an average price of $79.39, for a total transaction of $454,269.58. Following the completion of the sale, the insider now directly owns 12,674 shares in the company, valued at approximately $1,006,188.86. The disclosure for this sale can be found here. Insiders have sold 27,683 shares of company stock valued at $2,220,088 over the last quarter. Company insiders own 0.50% of the company’s stock.

Several research analysts have commented on ETN shares. ValuEngine downgraded shares of Eaton from a “buy” rating to a “hold” rating in a research report on Saturday, April 7th. Goldman Sachs Group upgraded shares of Eaton from a “neutral” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Tuesday, April 10th. JPMorgan Chase & Co. upgraded shares of Eaton from an “underweight” rating to a “neutral” rating and set a $82.00 price objective for the company in a research report on Thursday, March 1st. Barclays lowered their price objective on shares of Eaton from $90.00 to $82.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 2nd. Finally, Jefferies Financial Group upgraded shares of Eaton from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Monday, March 26th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $86.33.

Eaton 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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