11,496 Eaton Corporation, PLC $ETN Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its holdings in shares of Eaton Corporation, PLC (NYSE:ETN) by 3.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 306,381 shares of the industrial products company’s stock after selling 11,496 shares during the period. King Luther Capital Management Corp owned approximately 0.08% of Eaton worth $131,655,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Security National Bank of SO Dak purchased a new stake in Eaton during the 2nd quarter worth approximately $26,000. Manning & Napier Advisors LLC purchased a new position in shares of Eaton in the second quarter worth $27,000. Curry Webb Wealth Management LLC purchased a new position in shares of Eaton in the third quarter worth $29,000. CKW Financial Group lifted its stake in shares of 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 period. Finally, North Point Portfolio Managers Corp OH acquired a new stake in shares of Eaton during the third quarter worth $34,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Recent Eaton Headlines

Investors following ETN have been watching these headlines:

• Positive Sentiment: Eaton ranked eighth in a list of Jim Cramer’s top dividend stocks, highlighting its reputation for consistent shareholder payments. Eaton’s dividend and Jim Cramer
• Neutral Sentiment: JPMorgan and Jefferies initiated coverage with neutral ratings and $395 price targets. The targets imply potential upside from the quoted share prices, but the ratings signal a measured view. JPMorgan coverage Jefferies coverage
• Negative Sentiment: Shares have pulled back sharply after a multiyear run. Commentary questions whether cash flows justify the valuation, while shifting expectations for infrastructure and data-center spending may add uncertainty. Eaton valuation after raised guidance

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets boosted 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 target price on Eaton in a research note on Wednesday, November 4th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $534.00 price target (up from $509.00) on shares of Eaton in a research report on Monday, August 3rd. Wall Street Zen downgraded Eaton from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Finally, Morgan Stanley boosted their price target on Eaton from $500.00 to $520.00 and gave the company an “overweight” rating in a research note on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus target price of $476.86.

Eaton Stock Performance

Shares of NYSE ETN opened at $360.74 on Thursday. The company has a 50 day simple moving average of $402.71 and a two-hundred day simple moving average of $396.94. The stock has a market cap of $140.15 billion, a price-to-earnings ratio of 36.04, a PEG ratio of 2.23 and a beta of 1.15. The company has a current ratio of 1.23, a quick ratio of 0.78 and a debt-to-equity ratio of 0.85. Eaton Corporation, PLC has a 12 month low of $311.92 and a 12 month high of $478.00.

Eaton (NYSE:ETN) last released its quarterly earnings data on Tuesday, November 3rd. The industrial products company reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $8.53 billion. During the same quarter in the prior year, the business earned $3.07 earnings per share. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. As a group, analysts predict that Eaton Corporation, PLC will post 13.78 earnings per share for the current year.

Eaton Dividend Announcement

The firm 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 $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, November 10th. Eaton’s dividend payout ratio is presently 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. Eaton also makes aerospace components and systems, as well as products for vehicle powertrains and related applications.