123,043 Eaton Corporation, PLC $ETN Shares Acquired by Compass Capital Management Inc.

Compass Capital Management Inc. lifted its position in Eaton Corporation, PLC (NYSE:ETN) by 797.4% in the third quarter, Holdings Channel reports. The firm owned 138,474 shares of the industrial products company’s stock after acquiring an additional 123,043 shares during the period. Eaton accounts for approximately 3.7% of Compass Capital Management Inc.’s holdings, making the stock its 7th biggest position. Compass Capital Management Inc.’s holdings in Eaton were worth $59,504,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ETN. Wellington Management Group LLP lifted its stake in Eaton by 19.6% in the second quarter. Wellington Management Group LLP now owns 6,827,266 shares of the industrial products company’s stock valued at $2,909,235,000 after buying an additional 1,120,567 shares during the last quarter. National Pension Service increased its holdings in shares of Eaton by 3.5% in the 2nd quarter. National Pension Service now owns 864,731 shares of the industrial products company’s stock valued at $368,479,000 after acquiring an additional 29,436 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Eaton by 5.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 475,488 shares of the industrial products company’s stock valued at $204,391,000 after acquiring an additional 25,003 shares during the period. AMF Tjanstepension AB raised its position in Eaton by 1.4% in the 3rd quarter. AMF Tjanstepension AB now owns 364,814 shares of the industrial products company’s stock valued at $156,764,000 after purchasing an additional 5,168 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd raised its position in Eaton by 112.6% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 336,060 shares of the industrial products company’s stock valued at $120,199,000 after purchasing an additional 178,000 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

NYSE:ETN opened at $352.35 on Friday. The firm has a market cap of $136.89 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 2.26 and a beta of 1.15. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.23 and a quick ratio of 0.78. Eaton Corporation, PLC has a 1-year low of $311.92 and a 1-year high of $478.00. The firm’s fifty day moving average price is $401.20 and its 200 day moving average price is $397.13.

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

Eaton Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have issued reports on ETN shares. HSBC raised their price objective on shares of Eaton from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Wells Fargo & Company decreased their target price on shares of Eaton from $503.00 to $485.00 and set an “overweight” rating for the company in a research note on Wednesday, November 4th. Jefferies Financial Group initiated coverage on Eaton in a report on Wednesday. They set a “neutral” rating and a $395.00 price target on the stock. Raymond James Financial restated an “outperform” rating and issued a $485.00 price target on shares of Eaton in a research report on Monday. Finally, Weiss Ratings downgraded Eaton from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average target price of $476.86.

About Eaton

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.