Maryland State Retirement & Pension System increased its holdings in Eaton Corporation, PLC (NYSE:ETN – Free Report) by 13.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,665 shares of the industrial products company’s stock after purchasing an additional 2,857 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Eaton were worth $10,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of ETN. Security National Bank of SO Dak bought a new position in Eaton during the 2nd quarter valued at approximately $26,000. Manning & Napier Advisors LLC bought a new stake in shares of Eaton in the 2nd quarter worth approximately $27,000. Curry Webb Wealth Management LLC purchased a new position in shares of Eaton during the third quarter valued at approximately $29,000. Boreal Capital Management LLC purchased a new position in shares of Eaton during the first quarter valued at approximately $33,000. Finally, North Point Portfolio Managers Corp OH purchased a new position in shares of Eaton during the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.
Eaton Price Performance
Shares of ETN opened at $360.74 on Thursday. 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 company has a market capitalization of $140.15 billion, a P/E ratio of 36.04, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15. The firm has a 50 day moving average of $402.71 and a 200 day moving average of $396.94. Eaton Corporation, PLC has a twelve month low of $311.92 and a twelve month high of $478.00.
Eaton (NYSE:ETN – Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $8.95 billion during the quarter, compared to analyst estimates of $8.53 billion. During the same period in the previous year, the business posted $3.07 earnings per share. The business’s revenue for the quarter was up 28.0% on a year-over-year basis. As a group, equities research analysts anticipate that Eaton Corporation, PLC will post 13.78 earnings per share for the current fiscal year.
Eaton Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Tuesday, November 10th will be issued 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 of this dividend is Tuesday, November 10th. Eaton’s dividend payout ratio is presently 43.96%.
Analysts Set New Price Targets
A number of brokerages recently commented on ETN. Rothschild & Co Redburn raised their price target on Eaton from $386.00 to $403.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 30th. Weiss Ratings downgraded shares of Eaton from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. Jefferies Financial Group initiated coverage on shares of Eaton in a report on Wednesday. They issued a “neutral” rating and a $395.00 price objective for the company. Morgan Stanley raised their target price on shares of Eaton from $500.00 to $520.00 and gave the stock an “overweight” rating in a research report on Friday, August 28th. Finally, BMO Capital Markets lifted their target price on shares of Eaton from $477.00 to $487.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $476.86.
Latest Eaton News
Investors following ETN have been watching these news items:
- Positive Sentiment: Eaton was selected to provide hydraulic power and fuel-system technologies for Dassault Aviation’s Falcon 10X, adding to its aerospace business. Eaton to supply systems for a new business jet
- Positive Sentiment: Potentially large AI-infrastructure investment could support demand for Eaton’s electrical equipment: one report projects hyperscalers’ 2027 capital spending at $1.3 trillion. Hyperscaler capital spending and Eaton
- Positive Sentiment: Recent coverage points to record third-quarter sales and another increase to Eaton’s 2026 outlook. The supplied earnings figures also show revenue and EPS ahead of consensus, supporting the growth case. Record Q3 sales and raised outlook
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.
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