Eaton Corporation, PLC $ETN Stock: Vestor Capital LLC Cuts Position

Vestor Capital LLC lowered its holdings in Eaton Corporation, PLC (NYSE:ETN) by 51.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,688 shares of the industrial products company’s stock after selling 1,756 shares during the quarter. Vestor Capital LLC’s holdings in Eaton were worth $725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Running Oak Capital LLC boosted its holdings in shares of Eaton by 2.5% during the 3rd quarter. Running Oak Capital LLC now owns 28,915 shares of the industrial products company’s stock valued at $12,425,000 after acquiring an additional 712 shares during the last quarter. Kohmann Bosshard Financial Services LLC boosted its holdings in Eaton by 12.0% in the third quarter. Kohmann Bosshard Financial Services LLC now owns 1,451 shares of the industrial products company’s stock worth $624,000 after purchasing an additional 156 shares during the last quarter. Joseph Group Capital Management grew its position in Eaton by 3.2% in the 3rd quarter. Joseph Group Capital Management now owns 20,026 shares of the industrial products company’s stock worth $8,605,000 after purchasing an additional 616 shares during the period. Accuvest Global Advisors raised its stake in Eaton by 28.5% during the 3rd quarter. Accuvest Global Advisors now owns 2,009 shares of the industrial products company’s stock valued at $863,000 after buying an additional 446 shares during the last quarter. Finally, Burton Enright Welch bought a new position in shares of Eaton during the 3rd quarter valued at $209,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Gerald Johnson purchased 130 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was acquired at an average cost of $455.90 per share, for a total transaction of $59,267.00. Following the completion of the transaction, the director directly owned 1,829 shares in the company, valued at $833,841.10. This trade represents a 7.65% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.10% of the stock is owned by corporate insiders.

Eaton Stock Up 5.2%

NYSE ETN opened at $359.58 on Tuesday. The stock’s 50-day moving average price is $404.26 and its 200-day moving average price is $396.69. The company has a quick ratio of 0.79, a current ratio of 1.23 and a debt-to-equity ratio of 0.85. Eaton Corporation, PLC has a 52 week low of $311.92 and a 52 week high of $478.00. The company has a market capitalization of $139.70 billion, a P/E ratio of 35.92, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, November 3rd. The industrial products company reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $3.54 by $0.14. The firm had revenue of $8.95 billion for the quarter, compared to analysts’ expectations of $8.53 billion. Eaton had a return on equity of 25.09% and a net margin of 12.18%. The business’s quarterly revenue was up 28.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.07 EPS. On average, equities research analysts predict that Eaton Corporation, PLC will post 13.80 earnings per share for the current year.

Eaton Announces Dividend

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

Analysts Set New Price Targets

ETN has been the subject of several research analyst reports. Argus lifted their price objective on Eaton from $475.00 to $528.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. HSBC boosted their price target on Eaton from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. BNP Paribas Exane boosted their price target on Eaton from $490.00 to $500.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Royal Bank Of Canada upped their price target on shares of Eaton from $526.00 to $539.00 and gave the company an “outperform” rating in a research report on Wednesday, November 4th. Finally, Wall Street Zen cut shares of Eaton from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $482.09.

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.