Russell Investments Group Ltd. Purchases 25,003 Shares of Eaton Corporation, PLC $ETN

Russell Investments Group Ltd. grew its position in Eaton Corporation, PLC (NYSE:ETN) by 5.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 475,488 shares of the industrial products company’s stock after purchasing an additional 25,003 shares during the period. Russell Investments Group Ltd. owned about 0.12% of Eaton worth $204,391,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ETN. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in shares of Eaton in the third quarter valued at approximately $182,000. Endeavor Private Wealth Inc. purchased a new stake in shares of Eaton during the third quarter valued at approximately $237,000. Maryland State Retirement & Pension System lifted its holdings in Eaton by 13.7% during the third quarter. Maryland State Retirement & Pension System now owns 23,665 shares of the industrial products company’s stock worth $10,169,000 after acquiring an additional 2,857 shares during the period. Ritholtz Wealth Management lifted its holdings in Eaton by 6.7% during the third quarter. Ritholtz Wealth Management now owns 9,429 shares of the industrial products company’s stock worth $4,052,000 after acquiring an additional 593 shares during the period. Finally, UNIVEST FINANCIAL Corp boosted its position in Eaton by 4.3% in the third quarter. UNIVEST FINANCIAL Corp now owns 3,404 shares of the industrial products company’s stock worth $1,463,000 after purchasing an additional 139 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Trading Down 0.4%

Shares of Eaton stock opened at $359.12 on Friday. The stock has a market capitalization of $139.52 billion, a P/E ratio of 35.88, a P/E/G ratio of 2.27 and a beta of 1.15. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.78 and a current ratio of 1.23. The stock’s 50-day simple moving average is $402.08 and its 200 day simple moving average is $397.08. Eaton Corporation, PLC has a 52-week low of $311.92 and a 52-week high of $478.00.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, November 3rd. The industrial products company reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $0.14. Eaton had a return on equity of 25.09% and a net margin of 12.18%. The business had revenue of $8.95 billion for the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter in the prior year, the firm posted $3.07 EPS. The firm’s quarterly revenue was up 28.0% on a year-over-year basis. As a group, research analysts anticipate that Eaton Corporation, PLC will post 13.78 EPS for the current year.

Eaton Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have issued reports on ETN. Deutsche Bank upped their price objective on Eaton from $493.00 to $521.00 and gave the company a “buy” rating in a research note on Wednesday, September 30th. BNP Paribas Exane lifted their target price on Eaton from $490.00 to $500.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Raymond James Financial reiterated an “outperform” rating and set a $485.00 target price on shares of Eaton in a research note on Monday. Rothschild & Co Redburn boosted their price target on shares of Eaton from $386.00 to $403.00 and gave the stock a “neutral” rating in a report on Wednesday, September 30th. Finally, JPMorgan Chase & Co. started coverage on shares of Eaton in a research report on Wednesday. They set a “neutral” rating and a $395.00 price target for the company. One investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $476.86.

Recent Eaton Headlines

Investors following ETN have been watching these headlines:

• Positive Sentiment: Bernstein initiated a Buy rating on ETN, providing a bullish counterpoint to more cautious analyst views. Bernstein rates Eaton Buy
• Neutral Sentiment: Oppenheimer maintained its Hold rating, underscoring the divided analyst outlook. Oppenheimer maintains Hold
• Neutral Sentiment: Recent commentary points to raised full-year guidance but says investors are weighing cash-flow valuation against shifting expectations for infrastructure and data-center spending. A separate Trefis headline flags a shrinking metric as a potential risk but does not identify it in the supplied summary. Eaton valuation and raised guidance Trefis risk analysis

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.