BB&T Securities LLC Has $14.99 Million Stake in Eaton Co. PLC (ETN)

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BB&T Securities LLC lessened its stake in Eaton Co. PLC (NYSE:ETN) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 200,540 shares of the industrial products company’s stock after selling 2,084 shares during the period. BB&T Securities LLC’s holdings in Eaton were worth $14,988,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. OppenheimerFunds Inc. increased its stake in shares of Eaton by 44.2% in the second quarter. OppenheimerFunds Inc. now owns 996,721 shares of the industrial products company’s stock worth $74,495,000 after buying an additional 305,393 shares during the last quarter. Baird Financial Group Inc. increased its stake in shares of Eaton by 3.7% in the second quarter. Baird Financial Group Inc. now owns 160,081 shares of the industrial products company’s stock worth $11,964,000 after buying an additional 5,684 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Eaton by 130.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 110,364 shares of the industrial products company’s stock worth $8,249,000 after buying an additional 62,522 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Eaton by 7.5% in the second quarter. Renaissance Technologies LLC now owns 416,011 shares of the industrial products company’s stock worth $31,093,000 after buying an additional 29,100 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Eaton by 212.5% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 513,098 shares of the industrial products company’s stock worth $38,349,000 after buying an additional 348,900 shares during the last quarter. Institutional investors and hedge funds own 77.55% of the company’s stock.

In other news, insider Uday Yadav sold 9,786 shares of the business’s stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $80.32, for a total transaction of $786,011.52. Following the completion of the transaction, the insider now owns 21,559 shares of the company’s stock, valued at $1,731,618.88. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Deborah L. Mccoy sold 3,000 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $84.55, for a total transaction of $253,650.00. Following the transaction, the director now directly owns 32,936 shares of the company’s stock, valued at approximately $2,784,738.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,286 shares of company stock valued at $4,812,402. 0.50% of the stock is currently owned by corporate insiders.

ETN has been the subject of a number of research analyst reports. Bank of America upgraded shares of Eaton from a “neutral” rating to a “buy” rating in a research note on Friday, May 18th. ValuEngine lowered shares of Eaton from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Zacks Investment Research upgraded shares of Eaton from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Tuesday, July 3rd. MED upgraded shares of Eaton from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research note on Thursday, July 12th. Finally, Deutsche Bank set a $86.00 price target on shares of Eaton and gave the stock a “buy” rating in a research note on Thursday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $87.61.

Eaton stock opened at $83.81 on Friday. The firm has a market capitalization of $36.69 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 1.54 and a beta of 1.38. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.47 and a quick ratio of 0.96. Eaton Co. PLC has a 12 month low of $71.09 and a 12 month high of $89.85.

Eaton (NYSE:ETN) last released its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.45 billion. Eaton had a net margin of 14.80% and a return on equity of 13.11%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.15 earnings per share. analysts anticipate that Eaton Co. PLC will post 5.36 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Friday, August 3rd were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Thursday, August 2nd. Eaton’s dividend payout ratio is presently 56.77%.

Eaton Company 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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