Eaton Corporation, PLC $ETN Stock Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. trimmed its stake in Eaton Corporation, PLC (NYSE:ETN) by 7.5% in the third quarter, Holdings Channel reports. The firm owned 162,265 shares of the industrial products company’s stock after selling 13,064 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Eaton were worth $69,778,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Security National Bank of SO Dak bought a new stake in shares of Eaton during the 2nd quarter worth approximately $26,000. Manning & Napier Advisors LLC bought a new position in shares of Eaton in the second quarter valued at $27,000. Curry Webb Wealth Management LLC bought a new position in shares of Eaton in the third quarter valued at $29,000. CKW Financial Group increased its holdings in Eaton by 1,825.0% during the third quarter. CKW Financial Group now owns 77 shares of the industrial products company’s stock worth $34,000 after buying an additional 73 shares during the last quarter. Finally, North Point Portfolio Managers Corp OH acquired a new position in Eaton during the third quarter worth $34,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on ETN shares. JPMorgan Chase & Co. began coverage on shares of Eaton in a research report on Wednesday. They set a “neutral” rating and a $395.00 price target on the stock. Evercore lifted their price objective on shares of Eaton from $502.00 to $515.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. UBS Group upgraded shares of Eaton from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $450.00 to $515.00 in a research note on Monday, September 7th. HSBC upped their target price on shares of Eaton from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, Rothschild & Co Redburn raised their target price on shares of Eaton from $386.00 to $403.00 and gave the company a “neutral” rating in a research note on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $476.86.

Eaton Stock Down 0.4%

ETN opened at $359.12 on Friday. Eaton Corporation, PLC has a 1-year low of $311.92 and a 1-year high of $478.00. The stock’s fifty day simple moving average is $402.08 and its 200 day simple moving average is $397.08. The company has a current ratio of 1.23, a quick ratio of 0.78 and a debt-to-equity ratio of 0.85. The stock has a market cap of $139.52 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 2.27 and a beta of 1.15.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Tuesday, November 3rd. The industrial products company reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.14. Eaton had a return on equity of 25.09% and a net margin of 12.18%. The business had revenue of $8.95 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same quarter last year, the firm posted $3.07 EPS. The company’s quarterly revenue was up 28.0% on a year-over-year basis. As a group, research analysts expect that Eaton Corporation, PLC will post 13.78 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Tuesday, November 10th will be given a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $4.40 annualized dividend and a dividend yield of 1.2%. Eaton’s dividend payout ratio is presently 43.96%.

More Eaton News

Here’s some of the latest news about ETN:

• Positive Sentiment: Dassault Aviation selected Eaton to supply hydraulic power and fuel systems for its Falcon 10X business jet. The contract adds to Eaton’s aerospace business, though no financial terms were disclosed. Eaton to supply systems for a new business jet
• Neutral Sentiment: Oppenheimer maintained its Hold rating, underscoring the divided analyst outlook. Oppenheimer maintains Hold
• Negative Sentiment: The mixed ratings and focus on valuation and potential business risks may limit enthusiasm despite the contract win and Buy call. Zacks’ “trending stock” article reports heightened investor attention, but the supplied summary gives no specific buy-or-sell conclusion. Zacks coverage of Eaton

Eaton Profile

Eaton is a global power management company that designs and manufactures products and services intended to help customers manage electrical, hydraulic and mechanical power. Founded in 1911, the company serves customers across a range of industries, including utilities, commercial buildings, data centers, aerospace and transportation. Its offerings include electrical distribution and circuit protection equipment, power quality and backup systems, and power management software and services. Eaton also makes aerospace components and systems, as well as products for vehicle powertrains and related applications.