Eaton Co. PLC (NYSE:ETN) Shares Acquired by Calamos Advisors LLC

Calamos Advisors LLC grew its position in Eaton Co. PLC (NYSE:ETN) by 9.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 80,571 shares of the industrial products company’s stock after acquiring an additional 6,985 shares during the period. Calamos Advisors LLC’s holdings in Eaton were worth $6,699,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Edgestream Partners L.P. purchased a new position in Eaton in the second quarter valued at $311,000. Janney Montgomery Scott LLC boosted its holdings in Eaton by 0.6% in the second quarter. Janney Montgomery Scott LLC now owns 284,809 shares of the industrial products company’s stock valued at $23,719,000 after purchasing an additional 1,747 shares during the period. Kornitzer Capital Management Inc. KS boosted its holdings in Eaton by 10.8% in the second quarter. Kornitzer Capital Management Inc. KS now owns 2,781 shares of the industrial products company’s stock valued at $232,000 after purchasing an additional 270 shares during the period. Redpoint Investment Management Pty Ltd boosted its holdings in Eaton by 37.1% in the second quarter. Redpoint Investment Management Pty Ltd now owns 46,448 shares of the industrial products company’s stock valued at $3,868,000 after purchasing an additional 12,576 shares during the period. Finally, Bahl & Gaynor Inc. boosted its holdings in Eaton by 1,284.5% in the second quarter. Bahl & Gaynor Inc. now owns 657,529 shares of the industrial products company’s stock valued at $54,759,000 after purchasing an additional 610,037 shares during the period. 77.43% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE ETN opened at $84.72 on Wednesday. The company has a market capitalization of $34.68 billion, a price-to-earnings ratio of 15.72, a price-to-earnings-growth ratio of 1.62 and a beta of 1.43. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.83 and a quick ratio of 1.18. The business has a 50-day moving average of $82.40 and a two-hundred day moving average of $80.92. Eaton Co. PLC has a 1 year low of $64.46 and a 1 year high of $89.07.

Eaton (NYSE:ETN) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $1.53 EPS for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.02. Eaton had a return on equity of 14.88% and a net margin of 10.16%. The business had revenue of $5.53 billion for the quarter, compared to analysts’ expectations of $5.63 billion. During the same quarter in the previous year, the firm earned $1.39 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. As a group, equities research analysts expect that Eaton Co. PLC will post 5.82 earnings per share for the current year.

In other news, insider Joao V. Faria sold 1,000 shares of Eaton stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $86.89, for a total transaction of $86,890.00. Following the sale, the insider now owns 52,841 shares in the company, valued at $4,591,354.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ken D. Semelsberger sold 17,000 shares of Eaton stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $88.69, for a total value of $1,507,730.00. Following the sale, the insider now owns 69,936 shares in the company, valued at approximately $6,202,623.84. The disclosure for this sale can be found here. Insiders have sold 101,592 shares of company stock worth $8,501,148 in the last quarter. Insiders own 0.70% of the company’s stock.

A number of analysts have issued reports on ETN shares. Robert W. Baird downgraded Eaton from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $89.00 to $82.00 in a report on Tuesday, September 3rd. Oppenheimer raised Eaton from a “market perform” rating to an “outperform” rating and set a $95.00 price target for the company in a report on Wednesday, October 16th. Vertical Group downgraded Eaton from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Morgan Stanley lifted their price target on Eaton from $88.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, Vertical Research downgraded Eaton from a “buy” rating to a “hold” rating and set a $85.00 price target for the company. in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. Eaton has a consensus rating of “Hold” and a consensus target price of $88.23.

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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