Eaton Co. PLC (ETN) Shares Sold by Zebra Capital Management LLC

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Zebra Capital Management LLC decreased its stake in Eaton Co. PLC (NYSE:ETN) by 25.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,472 shares of the industrial products company’s stock after selling 3,662 shares during the period. Zebra Capital Management LLC’s holdings in Eaton were worth $783,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Pegasus Asset Management Inc. grew its holdings in shares of Eaton by 2.3% during the 2nd quarter. Pegasus Asset Management Inc. now owns 28,030 shares of the industrial products company’s stock valued at $2,095,000 after purchasing an additional 643 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Eaton by 5.4% during the 2nd quarter. Bessemer Group Inc. now owns 12,819 shares of the industrial products company’s stock valued at $958,000 after purchasing an additional 651 shares during the last quarter. Cambria Investment Management L.P. grew its holdings in shares of Eaton by 2.7% during the 1st 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 during the last quarter. World Asset Management Inc grew its holdings in shares of Eaton by 2.5% during the 2nd quarter. World Asset Management Inc now owns 27,989 shares of the industrial products company’s stock valued at $2,092,000 after purchasing an additional 672 shares during the last quarter. Finally, Capital City Trust Co. FL grew its holdings in shares of Eaton by 4.0% during the 2nd quarter. Capital City Trust Co. FL now owns 17,914 shares of the industrial products company’s stock valued at $1,339,000 after purchasing an additional 693 shares during the last quarter. 77.56% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Revathi Advaithi sold 15,500 shares of the firm’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $82.98, for a total value of $1,286,190.00. Following the completion of the sale, the insider now directly owns 24,715 shares of the company’s stock, valued at approximately $2,050,850.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ken D. Semelsberger sold 11,500 shares of the firm’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $86.57, for a total transaction of $995,555.00. Following the completion of the sale, the insider now directly owns 78,883 shares of the company’s stock, valued at $6,828,901.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,000 shares of company stock valued at $4,617,645. Corporate insiders own 0.50% of the company’s stock.

Shares of ETN opened at $87.15 on Friday. The firm has a market cap of $37.25 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.57 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 twelve month low of $71.62 and a twelve month high of $89.85.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.07. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.45 billion. Eaton had a net margin of 14.80% and a return on equity of 13.11%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.15 EPS. equities research analysts forecast that Eaton Co. PLC will post 5.36 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 17th. Stockholders of record on Friday, August 3rd were given a $0.66 dividend. The ex-dividend date of this dividend was Thursday, August 2nd. This represents a $2.64 annualized dividend and a dividend yield of 3.03%. Eaton’s dividend payout ratio is 56.77%.

Several equities analysts recently commented on ETN shares. Deutsche Bank increased their target price on shares of Eaton from $92.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, August 16th. Bank of America raised shares of Eaton from a “neutral” rating to a “buy” rating in a report on Thursday, May 31st. MED raised shares of Eaton from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Thursday, July 12th. Zacks Investment Research raised shares of Eaton from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Tuesday, July 3rd. Finally, Wells Fargo & Co set a $92.00 price target on shares of Eaton and gave the company a “buy” rating in a research report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $87.61.

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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