Compass Capital Management Inc. Acquires 123,043 Shares of Eaton Corporation, PLC $ETN

Compass Capital Management Inc. raised its holdings in Eaton Corporation, PLC (NYSE:ETN) by 797.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 138,474 shares of the industrial products company’s stock after buying an additional 123,043 shares during the period. Eaton makes up approximately 3.7% of Compass Capital Management Inc.’s portfolio, making the stock its 7th largest position. Compass Capital Management Inc.’s holdings in Eaton were worth $59,504,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Security National Bank of SO Dak acquired a new stake in shares of Eaton in the second quarter valued at $26,000. Manning & Napier Advisors LLC acquired a new position in Eaton during the 2nd quarter worth $27,000. Curry Webb Wealth Management LLC purchased a new stake in Eaton during the 3rd quarter worth about $29,000. CKW Financial Group increased its holdings in Eaton by 1,825.0% during the 3rd quarter. CKW Financial Group now owns 77 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 73 shares during the period. Finally, North Point Portfolio Managers Corp OH purchased a new stake in Eaton during the 3rd quarter worth about $34,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Trading Down 1.9%

NYSE:ETN opened at $352.35 on Friday. The stock has a 50-day simple moving average of $401.20 and a 200-day simple moving average of $397.13. The stock has a market cap of $136.89 billion, a P/E ratio of 35.20, a P/E/G ratio of 2.26 and a beta of 1.15. Eaton Corporation, PLC has a 1 year low of $311.92 and a 1 year high of $478.00. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.78 and a current ratio of 1.23.

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, topping the consensus estimate of $3.54 by $0.14. The business had revenue of $8.95 billion for the quarter, compared to analyst estimates 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 quarter last year, the company earned $3.07 EPS. As a group, analysts anticipate that Eaton Corporation, PLC will post 13.78 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. Stockholders of record on Tuesday, November 10th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, November 10th. Eaton’s payout ratio is currently 43.96%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ETN shares. Argus lifted their price objective on Eaton from $475.00 to $528.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. HSBC upped their target price 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. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $534.00 target price (up from $509.00) on shares of Eaton in a report on Monday, August 3rd. Citigroup lifted their price target on shares of Eaton from $485.00 to $498.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $485.00 price target on shares of Eaton in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus price target 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.