TD Asset Management Inc. Has $33.49 Million Position in Eaton Co. PLC (ETN)

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TD Asset Management Inc. reduced its position in shares of Eaton Co. PLC (NYSE:ETN) by 4.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 386,101 shares of the industrial products company’s stock after selling 19,638 shares during the period. TD Asset Management Inc. owned about 0.09% of Eaton worth $33,486,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ETN. Sound Shore Management Inc. CT bought a new position in Eaton during the 2nd quarter valued at about $122,069,000. Assenagon Asset Management S.A. increased its position in Eaton by 27,710.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,434,178 shares of the industrial products company’s stock valued at $107,190,000 after acquiring an additional 1,429,021 shares in the last quarter. American Century Companies Inc. increased its position in Eaton by 57.8% in the 2nd quarter. American Century Companies Inc. now owns 3,531,120 shares of the industrial products company’s stock valued at $263,916,000 after acquiring an additional 1,293,143 shares in the last quarter. LSV Asset Management increased its position in Eaton by 6,356.8% in the 2nd quarter. LSV Asset Management now owns 1,239,710 shares of the industrial products company’s stock valued at $92,655,000 after acquiring an additional 1,220,510 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its position in Eaton by 29.3% in the 2nd quarter. Epoch Investment Partners Inc. now owns 3,039,776 shares of the industrial products company’s stock valued at $227,193,000 after acquiring an additional 688,549 shares in the last quarter. 77.29% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Deborah L. Mccoy sold 3,000 shares of Eaton stock in a transaction that occurred 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 completion of the sale, the director now owns 32,936 shares in the company, valued at approximately $2,784,738.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Revathi Advaithi sold 15,500 shares of Eaton stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $82.98, for a total transaction of $1,286,190.00. Following the sale, the insider now owns 24,715 shares of the company’s stock, valued at approximately $2,050,850.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,000 shares of company stock valued at $4,617,645. 0.50% of the stock is owned by corporate insiders.

Shares of NYSE:ETN opened at $74.24 on Friday. Eaton Co. PLC has a one year low of $67.70 and a one year high of $89.85. The company has a quick ratio of 0.96, a current ratio of 1.49 and a debt-to-equity ratio of 0.40. The company has a market cap of $32.63 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.37 and a beta of 1.49.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. Eaton had a net margin of 10.06% and a return on equity of 13.48%. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.49 billion. During the same quarter in the previous year, the company earned $1.25 EPS. Eaton’s revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts forecast that Eaton Co. PLC will post 5.35 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Friday, November 2nd will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Thursday, November 1st. Eaton’s dividend payout ratio is 56.77%.

ETN has been the subject of several research reports. Morgan Stanley lowered their price objective on shares of Eaton from $94.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, October 31st. Credit Suisse Group lowered their price objective on shares of Eaton from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, October 31st. UBS Group upgraded shares of Eaton from a “neutral” rating to a “buy” rating and raised their price objective for the company from $91.00 to $100.00 in a research report on Friday, September 21st. Deutsche Bank lowered their price objective on shares of Eaton from $102.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, October 31st. Finally, Zacks Investment Research upgraded shares of Eaton from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research report on Monday, August 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $86.12.

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About Eaton

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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