ST Germain D J Co. Inc. trimmed its position in Eaton Co. plc (NYSE:ETN) by 5.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,559 shares of the industrial products company’s stock after selling 499 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Eaton were worth $975,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of ETN. Hoover Financial Advisors Inc. acquired a new position in Eaton during the 2nd quarter valued at about $33,000. Fiduciary Planning LLC acquired a new position in Eaton during the 3rd quarter valued at about $41,000. Simon Quick Advisors LLC acquired a new position in Eaton during the 3rd quarter valued at about $48,000. Rockbridge Investment Management LCC acquired a new position in Eaton during the 2nd quarter valued at about $42,000. Finally, NWK Group Inc. acquired a new position in Eaton during the 2nd quarter valued at about $46,000. Hedge funds and other institutional investors own 77.55% of the company’s stock.
A number of research analysts have recently weighed in on ETN shares. Oppenheimer increased their price objective on Eaton from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, November 4th. Citigroup increased their price objective on Eaton from $106.00 to $122.00 and gave the company a “buy” rating in a report on Friday, October 16th. Deutsche Bank Aktiengesellschaft increased their price objective on Eaton from $111.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, November 4th. Wells Fargo & Company increased their price objective on Eaton from $110.00 to $130.00 in a report on Friday, October 9th. Finally, Bank of America raised Eaton from a “neutral” rating to a “buy” rating and set a $135.00 price objective on the stock in a report on Wednesday, November 11th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $108.06.
Shares of NYSE ETN opened at $117.40 on Friday. The company has a market capitalization of $46.80 billion, a price-to-earnings ratio of 34.53, a price-to-earnings-growth ratio of 2.34 and a beta of 1.11. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.49 and a quick ratio of 1.11. The business has a 50-day moving average of $108.84 and a two-hundred day moving average of $96.45. Eaton Co. plc has a 1 year low of $56.42 and a 1 year high of $119.48.
Eaton (NYSE:ETN) last posted its earnings results on Sunday, November 8th. The industrial products company reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.13. Eaton had a return on equity of 11.94% and a net margin of 7.53%. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the business earned $1.52 EPS. The business’s quarterly revenue was down 14.8% on a year-over-year basis. As a group, equities research analysts expect that Eaton Co. plc will post 4.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 20th. Stockholders of record on Friday, November 6th were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Thursday, November 5th. Eaton’s payout ratio is currently 51.50%.
Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, wiring devices, and structural support systems; and residential, single phase power quality, emergency lighting and fire detection, and circuit protection and lighting products.
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