Eaton Corporation, PLC $ETN Stake Lessened by Vestor Capital LLC

Vestor Capital LLC lessened its holdings in shares of Eaton Corporation, PLC (NYSE:ETN) by 51.0% during the 3rd quarter, Holdings Channel reports. The firm owned 1,688 shares of the industrial products company’s stock after selling 1,756 shares during the period. Vestor Capital LLC’s holdings in Eaton were worth $725,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Running Oak Capital LLC lifted its holdings in shares of Eaton by 2.5% in the third quarter. Running Oak Capital LLC now owns 28,915 shares of the industrial products company’s stock worth $12,425,000 after buying an additional 712 shares in the last quarter. Kohmann Bosshard Financial Services LLC boosted its position in shares of Eaton by 12.0% during the third quarter. Kohmann Bosshard Financial Services LLC now owns 1,451 shares of the industrial products company’s stock worth $624,000 after acquiring an additional 156 shares during the last quarter. Joseph Group Capital Management grew its stake in Eaton by 3.2% during the third quarter. Joseph Group Capital Management now owns 20,026 shares of the industrial products company’s stock valued at $8,605,000 after acquiring an additional 616 shares in the last quarter. Accuvest Global Advisors grew its stake in Eaton by 28.5% during the third quarter. Accuvest Global Advisors now owns 2,009 shares of the industrial products company’s stock valued at $863,000 after acquiring an additional 446 shares in the last quarter. Finally, Burton Enright Welch purchased a new position in Eaton during the third quarter valued at $209,000. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In related news, Director Gerald Johnson acquired 130 shares of the stock in a transaction dated Thursday, August 13th. The stock was acquired at an average cost of $455.90 per share, with a total value of $59,267.00. Following the purchase, the director directly owned 1,829 shares of the company’s stock, valued at approximately $833,841.10. This trade represents a 7.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ETN has been the topic of several research analyst reports. HSBC boosted their price target on shares of Eaton from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. BMO Capital Markets increased their price objective on shares of Eaton from $477.00 to $487.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Mizuho set a $485.00 price objective on Eaton in a research report on Wednesday, November 4th. Citigroup lifted their target price on Eaton from $485.00 to $498.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $485.00 target price on shares of Eaton in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $482.09.

Eaton Stock Performance

Shares of NYSE:ETN opened at $359.58 on Tuesday. The firm has a fifty day simple moving average of $404.26 and a two-hundred day simple moving average of $396.69. 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 0.79, a current ratio of 1.23 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $139.70 billion, a P/E ratio of 35.92, a PEG ratio of 2.01 and a beta of 1.15.

Eaton (NYSE:ETN) last announced its 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 net margin of 12.18% and a return on equity of 25.09%. The firm had revenue of $8.95 billion for the quarter, compared to analysts’ expectations of $8.53 billion. During the same period in the prior year, the company earned $3.07 EPS. The business’s revenue was up 28.0% compared to the same quarter last year. On average, analysts expect that Eaton Corporation, PLC will post 13.80 earnings per share for the current fiscal year.

Eaton Dividend Announcement

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

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.