25,003 Eaton Corporation, PLC $ETN Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its stake in shares of Eaton Corporation, PLC (NYSE:ETN) by 5.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 475,488 shares of the industrial products company’s stock after acquiring an additional 25,003 shares during the quarter. Russell Investments Group Ltd.’s holdings in Eaton were worth $204,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Kintegral Advisory LLC boosted its holdings in shares of Eaton by 0.6% during the third quarter. Kintegral Advisory LLC now owns 4,798 shares of the industrial products company’s stock worth $2,062,000 after purchasing an additional 27 shares during the period. Trust Co of the South grew its holdings in Eaton by 5.3% in the third quarter. Trust Co of the South now owns 561 shares of the industrial products company’s stock worth $241,000 after purchasing an additional 28 shares during the period. Financial Management Professionals Inc. grew its holdings in Eaton by 5.8% in the third quarter. Financial Management Professionals Inc. now owns 511 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 28 shares during the period. Oakworth Capital Inc. lifted its holdings in shares of Eaton by 0.7% during the third quarter. Oakworth Capital Inc. now owns 4,328 shares of the industrial products company’s stock valued at $1,860,000 after purchasing an additional 29 shares during the last quarter. Finally, Bullock Wealth Management Group boosted its position in shares of Eaton by 1.8% in the 3rd quarter. Bullock Wealth Management Group now owns 1,694 shares of the industrial products company’s stock worth $741,000 after purchasing an additional 30 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Trading Down 0.4%

Eaton stock opened at $359.12 on Friday. The business has a 50-day simple moving average of $402.08 and a two-hundred day simple moving average of $397.08. The company has a market cap of $139.52 billion, a P/E ratio of 35.88, a P/E/G ratio of 2.27 and a beta of 1.15. Eaton Corporation, PLC has a 52-week low of $311.92 and a 52-week high of $478.00. The company has a quick ratio of 0.78, a current ratio of 1.23 and a debt-to-equity ratio of 0.85.

Eaton (NYSE:ETN) last released its quarterly earnings results on Tuesday, November 3rd. The industrial products company reported $3.68 EPS 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 firm had revenue of $8.95 billion during the quarter, compared to analyst estimates of $8.53 billion. During the same quarter in the prior year, the firm earned $3.07 EPS. The business’s revenue for the quarter was up 28.0% compared to the same quarter last year. Analysts predict that Eaton Corporation, PLC will post 13.78 EPS for the current year.

Eaton Announces Dividend

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

Trending Headlines about Eaton

These are some of the ETN headlines that stood out recently:

• 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
• Positive Sentiment: Bernstein initiated a Buy rating on ETN, providing a bullish counterpoint to more cautious analyst views. Bernstein rates Eaton Buy
• Neutral Sentiment: Oppenheimer maintained its Hold rating, underscoring the divided analyst outlook. Oppenheimer maintains Hold

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company cut their price target on Eaton from $503.00 to $485.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 4th. HSBC lifted their price target on Eaton from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Mizuho set a $485.00 price objective on shares of Eaton in a research note on Wednesday, November 4th. Citigroup raised their price target on shares of Eaton from $485.00 to $498.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Finally, JPMorgan Chase & Co. assumed coverage on Eaton in a research report on Wednesday. They issued a “neutral” rating and a $395.00 price objective on the stock. One 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 stock. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $476.86.

Eaton Company 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.