Mcrae Capital Management Inc. Has $9.72 Million Position in Eaton Corporation, PLC (ETN)

Mcrae Capital Management Inc. increased its stake in shares of Eaton Corporation, PLC (NYSE:ETN) by 0.3% during the first quarter, Holdings Channel reports. The fund owned 131,053 shares of the industrial products company’s stock after buying an additional 350 shares during the period. Eaton Corporation, PLC makes up 4.0% of Mcrae Capital Management Inc.’s holdings, making the stock its 5th largest position. Mcrae Capital Management Inc.’s holdings in Eaton Corporation, PLC were worth $9,718,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Silvercrest Asset Management Group LLC boosted its position in shares of Eaton Corporation, PLC by 1.9% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 416,925 shares of the industrial products company’s stock valued at $27,971,000 after buying an additional 7,934 shares during the last quarter. Cigna Investments Inc. New bought a new position in shares of Eaton Corporation, PLC during the fourth quarter valued at $1,113,000. Foresters Investment Management Company Inc. boosted its position in shares of Eaton Corporation, PLC by 18.2% in the fourth quarter. Foresters Investment Management Company Inc. now owns 77,400 shares of the industrial products company’s stock valued at $5,283,000 after buying an additional 11,900 shares during the last quarter. Tompkins Financial Corp bought a new position in shares of Eaton Corporation, PLC during the first quarter valued at $124,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Eaton Corporation, PLC by 11.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 511,905 shares of the industrial products company’s stock valued at $37,958,000 after buying an additional 51,239 shares during the last quarter. Institutional investors own 76.33% of the company’s stock.

Institutional Ownership by Quarter for Eaton Corporation, PLC (NYSE:ETN)

Eaton Corporation, PLC (NYSE ETN) opened at 76.80 on Friday. The company has a 50-day moving average of $76.71 and a 200-day moving average of $72.47. The company has a market capitalization of $34.35 billion, a PE ratio of 17.89 and a beta of 1.27. Eaton Corporation, PLC has a 52 week low of $54.30 and a 52 week high of $79.31.

Eaton Corporation, PLC (NYSE:ETN) last posted its earnings results on Tuesday, May 2nd. The industrial products company reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.09. Eaton Corporation, PLC had a net margin of 9.86% and a return on equity of 12.82%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same period in the prior year, the company posted $0.88 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities research analysts anticipate that Eaton Corporation, PLC will post $4.63 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 19th. Shareholders of record on Friday, May 5th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Wednesday, May 3rd. Eaton Corporation, PLC’s dividend payout ratio is presently 55.81%.

TRADEMARK VIOLATION WARNING: This story was originally published by WKRB News and is the property of of WKRB News. If you are viewing this story on another domain, it was illegally stolen and republished in violation of US and international copyright and trademark legislation. The original version of this story can be read at https://www.wkrb13.com/markets/2229981/mcrae-capital-management-inc-has-9-72-million-position-in-eaton-corporation-plc-etn.html.

A number of equities analysts recently commented on ETN shares. Zacks Investment Research upgraded Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Tuesday, February 21st. Royal Bank Of Canada reiterated a “hold” rating and set a $73.00 price target on shares of Eaton Corporation, PLC in a report on Sunday, March 12th. Credit Suisse Group reiterated a “buy” rating on shares of Eaton Corporation, PLC in a report on Tuesday, March 28th. Barclays PLC set a $81.00 price target on Eaton Corporation, PLC and gave the stock a “hold” rating in a report on Tuesday, May 2nd. Finally, Longbow Research upgraded Eaton Corporation, PLC from a “neutral” rating to a “buy” rating and set a $88.00 price target for the company in a report on Tuesday, April 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Eaton Corporation, PLC has an average rating of “Hold” and an average price target of $77.00.

In other Eaton Corporation, PLC news, insider Uday Yadav sold 3,034 shares of the stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $76.08, for a total value of $230,826.72. Following the sale, the insider now directly owns 22,601 shares in the company, valued at approximately $1,719,484.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard H. Fearon sold 25,000 shares of the stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $76.24, for a total transaction of $1,906,000.00. Following the completion of the sale, the insider now owns 236,497 shares in the company, valued at $18,030,531.28. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

Eaton Corporation, PLC Company Profile

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.

Want to see what other hedge funds are holding ETN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eaton Corporation, PLC (NYSE:ETN).

This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2229981/mcrae-capital-management-inc-has-9-72-million-position-in-eaton-corporation-plc-etn.html

Receive News & Ratings for Eaton Corporation PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton Corporation PLC and related companies with MarketBeat.com's FREE daily email newsletter.

 


Leave a Reply

 
© 2006-2017 WKRB News.