Parallel Advisors LLC Acquires 522 Shares of Eaton Corporation, PLC (NYSE:ETN)

Parallel Advisors LLC boosted its position in shares of Eaton Corporation, PLC (NYSE:ETN) by 19.8% during the first quarter, Holdings Channel reports. The institutional investor owned 3,156 shares of the industrial products company’s stock after buying an additional 522 shares during the period. Parallel Advisors LLC’s holdings in Eaton Corporation, PLC were worth $241,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV boosted its stake in shares of Eaton Corporation, PLC by 9.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,402 shares of the industrial products company’s stock worth $104,000 after buying an additional 120 shares in the last quarter. Tompkins Financial Corp purchased a new stake in shares of Eaton Corporation, PLC during the first quarter worth about $124,000. Guardian Life Insurance Co. of America boosted its stake in shares of Eaton Corporation, PLC by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,742 shares of the industrial products company’s stock worth $129,000 after buying an additional 12 shares in the last quarter. Crestwood Advisors Group LLC purchased a new stake in shares of Eaton Corporation, PLC during the first quarter worth about $137,000. Finally, Citizens Financial Group Inc. RI boosted its stake in shares of Eaton Corporation, PLC by 168.8% in the first quarter. Citizens Financial Group Inc. RI now owns 2,059 shares of the industrial products company’s stock worth $153,000 after buying an additional 1,293 shares in the last quarter. Institutional investors and hedge funds own 76.36% of the company’s stock.

Eaton Corporation, PLC (ETN) opened at 79.36 on Monday. The company has a 50 day moving average of $76.78 and a 200 day moving average of $73.05. Eaton Corporation, PLC has a 52-week low of $59.07 and a 52-week high of $79.90. The company has a market capitalization of $35.50 billion, a PE ratio of 18.49 and a beta of 1.35.

Eaton Corporation, PLC (NYSE:ETN) last released its quarterly earnings data on Tuesday, May 2nd. The industrial products company reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.09. Eaton Corporation, PLC had a return on equity of 12.82% and a net margin of 9.86%. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the previous year, the company posted $0.88 EPS. The company’s revenue was up .7% compared to the same quarter last year. On average, equities research analysts forecast that Eaton Corporation, PLC will post $4.64 earnings per share for the current fiscal year.

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A number of brokerages recently issued reports on ETN. Zacks Investment Research upgraded Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Friday, May 12th. Stifel Nicolaus restated a “hold” rating and issued a $80.00 price objective on shares of Eaton Corporation, PLC in a research note on Friday. Citigroup Inc. boosted their price objective on Eaton Corporation, PLC from $80.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, April 3rd. Longbow Research upgraded Eaton Corporation, PLC from a “neutral” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Tuesday, April 4th. Finally, Credit Suisse Group restated a “buy” rating on shares of Eaton Corporation, PLC in a research note on Tuesday, March 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. Eaton Corporation, PLC presently has a consensus rating of “Hold” and a consensus target price of $77.21.

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

About Eaton Corporation, PLC

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.

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

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