Virtu Financial LLC Acquires New Stake in Eaton Co., PLC (ETN)
Virtu Financial LLC acquired a new stake in shares of Eaton Co., PLC (NYSE:ETN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 25,550 shares of the industrial products company’s stock, valued at approximately $2,019,000.
Several other institutional investors have also added to or reduced their stakes in the stock. Cable Hill Partners LLC lifted its holdings in Eaton by 174.8% in the third quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 867 shares during the period. Independence Bank of Kentucky bought a new position in Eaton in the fourth quarter valued at about $118,000. Fieldpoint Private Securities LLC bought a new position in Eaton in the third quarter valued at about $130,000. Murphy Capital Management Inc. bought a new position in Eaton in the fourth quarter valued at about $201,000. Finally, Montag A & Associates Inc. bought a new position in Eaton in the fourth quarter valued at about $201,000. 74.74% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on ETN. Stifel Nicolaus reissued a “hold” rating and issued a $80.00 target price on shares of Eaton in a report on Monday, December 11th. ValuEngine raised Eaton from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Jefferies Group reissued a “hold” rating and issued a $90.00 target price on shares of Eaton in a report on Friday, February 2nd. Barclays started coverage on Eaton in a report on Thursday, February 15th. They issued an “equal weight” rating and a $90.00 target price on the stock. Finally, Zacks Investment Research raised Eaton from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $87.57.
Eaton Co., PLC (NYSE ETN) opened at $82.79 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.65 and a quick ratio of 1.13. Eaton Co., PLC has a 12 month low of $69.82 and a 12 month high of $89.85. The company has a market capitalization of $36,477.27, a PE ratio of 12.39, a PEG ratio of 1.99 and a beta of 1.39.
Eaton (NYSE:ETN) last issued its earnings results on Thursday, February 1st. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.04. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.10 billion. Eaton had a return on equity of 12.84% and a net margin of 14.60%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned $1.12 EPS. research analysts expect that Eaton Co., PLC will post 5.14 EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: This article was first reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this article on another publication, it was illegally copied and reposted in violation of international copyright and trademark legislation. The original version of this article can be read at https://theolympiareport.com/2018/02/20/virtu-financial-llc-acquires-new-stake-in-eaton-co-plc-etn.html.
Eaton 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 Co., PLC (NYSE:ETN).
Receive News & Ratings for Eaton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton and related companies with MarketBeat.com's FREE daily email newsletter.