Eaton Corporation, PLC $ETN Stock: EagleClaw Capital Managment LLC Cuts Holdings

EagleClaw Capital Managment LLC lessened its position in shares of Eaton Corporation, PLC (NYSE:ETN) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,509 shares of the industrial products company’s stock after selling 1,724 shares during the quarter. Eaton comprises approximately 2.2% of EagleClaw Capital Managment LLC’s portfolio, making the stock its 12th largest position. EagleClaw Capital Managment LLC’s holdings in Eaton were worth $16,118,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in Eaton by 19.6% in the second quarter. Wellington Management Group LLP now owns 6,827,266 shares of the industrial products company’s stock worth $2,909,235,000 after acquiring an additional 1,120,567 shares during the period. National Pension Service increased its stake in Eaton by 3.5% during the second quarter. National Pension Service now owns 864,731 shares of the industrial products company’s stock worth $368,479,000 after acquiring an additional 29,436 shares during the last quarter. Russell Investments Group Ltd. raised its position in Eaton by 5.6% in the third quarter. Russell Investments Group Ltd. now owns 475,488 shares of the industrial products company’s stock valued at $204,391,000 after purchasing an additional 25,003 shares during the period. AMF Tjanstepension AB raised its position in Eaton by 1.4% in the third quarter. AMF Tjanstepension AB now owns 364,814 shares of the industrial products company’s stock valued at $156,764,000 after purchasing an additional 5,168 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Eaton by 87.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 282,750 shares of the industrial products company’s stock valued at $121,501,000 after purchasing an additional 131,624 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Down 1.9%

NYSE:ETN opened at $352.35 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. The stock’s fifty day moving average is $401.20 and its two-hundred day moving average is $397.13. Eaton Corporation, PLC has a 52 week low of $311.92 and a 52 week high of $478.00. The stock has a market capitalization of $136.89 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 2.26 and a beta of 1.15.

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

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Tuesday, November 10th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, November 10th. Eaton’s dividend payout ratio (DPR) is 43.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ETN shares. Robert W. Baird started coverage on Eaton in a report on Thursday, August 20th. They set an “outperform” rating and a $500.00 price target for the company. Morgan Stanley boosted their price objective on shares of Eaton from $500.00 to $520.00 and gave the company an “overweight” rating in a report on Friday, August 28th. Deutsche Bank upped their target price on shares of Eaton from $493.00 to $521.00 and gave the company a “buy” rating in a research report on Wednesday, September 30th. Wall Street Zen lowered shares of Eaton from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Finally, Wells Fargo & Company dropped their price target on shares of Eaton from $503.00 to $485.00 and set an “overweight” rating for the company in a research report on Wednesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.