Eurizon Capital SGR S.p.A. Sells 13,064 Shares of Eaton Corporation, PLC $ETN

Eurizon Capital SGR S.p.A. trimmed its holdings in shares of Eaton Corporation, PLC (NYSE:ETN) by 7.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 162,265 shares of the industrial products company’s stock after selling 13,064 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Eaton were worth $69,778,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Security National Bank of SO Dak bought a new position in Eaton in the second quarter valued at approximately $26,000. Manning & Napier Advisors LLC acquired a new position in shares of Eaton in the second quarter valued at approximately $27,000. Curry Webb Wealth Management LLC bought a new stake in shares of Eaton during the third quarter worth $29,000. Boreal Capital Management LLC bought a new stake in shares of Eaton during the first quarter worth $33,000. Finally, North Point Portfolio Managers Corp OH bought a new stake in shares of Eaton during the third quarter worth $34,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Top Eaton Stories

Investors following ETN have been watching these stories:

• Positive Sentiment: Bernstein initiated a Buy rating on ETN, providing a bullish counterpoint to more cautious analyst views. Bernstein rates Eaton Buy
• Neutral Sentiment: JPMorgan and Jefferies initiated coverage at Neutral, both with $395 price targets—above the share prices cited in the reports, but signaling neither firm is making a bullish call. JPMorgan begins coverage Jefferies rating
• Negative Sentiment: The mixed ratings and focus on valuation and potential business risks may limit enthusiasm despite the contract win and Buy call. Zacks’ “trending stock” article reports heightened investor attention, but the supplied summary gives no specific buy-or-sell conclusion. Zacks coverage of Eaton

Eaton Trading Down 0.4%

NYSE:ETN opened at $359.12 on Friday. 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 Corporation, PLC has a twelve month low of $311.92 and a twelve month high of $478.00. The company has a market cap of $139.52 billion, a P/E ratio of 35.88, a price-to-earnings-growth ratio of 2.27 and a beta of 1.15. The business has a 50 day moving average price of $402.08 and a two-hundred day moving average price of $397.08.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, November 3rd. The industrial products company reported $3.68 EPS 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 business had revenue of $8.95 billion for the quarter, compared to analyst estimates of $8.53 billion. During the same quarter in the previous year, the firm posted $3.07 earnings per share. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. As a group, analysts expect that Eaton Corporation, PLC will post 13.78 EPS for the current fiscal year.

Eaton Announces Dividend

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 paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, November 10th. Eaton’s payout ratio is presently 43.96%.

Wall Street Analyst Weigh In

Several research firms recently commented on ETN. Evercore boosted their price objective on shares of Eaton from $502.00 to $515.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Weiss Ratings lowered shares of Eaton from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Deutsche Bank increased their target price on Eaton from $493.00 to $521.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. Rothschild & Co Redburn lifted their price target on Eaton from $386.00 to $403.00 and gave the company a “neutral” rating in a research note on Wednesday, September 30th. Finally, BMO Capital Markets boosted their price target on Eaton from $477.00 to $487.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Eaton presently has an average 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.