Luminus Management LLC Has $162.33 Million Holdings in Eaton Co., PLC (ETN)

Luminus Management LLC raised its position in Eaton Co., PLC (NYSE:ETN) by 183.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,054,546 shares of the industrial products company’s stock after buying an additional 1,330,521 shares during the quarter. Eaton makes up approximately 3.4% of Luminus Management LLC’s portfolio, making the stock its 4th biggest position. Luminus Management LLC owned approximately 0.47% of Eaton worth $162,329,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ETN. Independence Bank of Kentucky purchased a new stake in Eaton in the fourth quarter valued at approximately $118,000. Delpha Capital Management LLC purchased a new stake in Eaton in the fourth quarter valued at approximately $124,000. Fieldpoint Private Securities LLC purchased a new stake in Eaton in the third quarter valued at approximately $130,000. Murphy Capital Management Inc. purchased a new stake in Eaton in the fourth quarter valued at approximately $201,000. Finally, Montag A & Associates Inc. purchased a new stake in Eaton in the fourth quarter valued at approximately $201,000. Institutional investors own 78.99% of the company’s stock.

In related news, insider Ken D. Semelsberger sold 15,595 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $82.67, for a total transaction of $1,289,238.65. Following the transaction, the insider now owns 104,613 shares of the company’s stock, valued at $8,648,356.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.80% of the company’s stock.

A number of equities research analysts have weighed in on the company. Bank of America upgraded Eaton from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $81.03 to $85.00 in a research note on Thursday. JPMorgan Chase & Co. upgraded Eaton from an “underweight” rating to a “neutral” rating and set a $82.00 price target for the company in a research note on Thursday, March 1st. Barclays started coverage on Eaton in a research note on Thursday, February 15th. They set an “equal weight” rating and a $90.00 price target for the company. Argus upgraded Eaton to a “buy” rating and upped their price target for the stock from $85.00 to $90.00 in a research note on Thursday, February 8th. Finally, Zacks Investment Research upgraded Eaton from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $88.20.

Eaton Co., PLC (ETN) opened at $83.14 on Monday. Eaton Co., PLC has a twelve month low of $69.82 and a twelve month high of $89.85. The firm has a market capitalization of $36,598.23, a price-to-earnings ratio of 12.45, a P/E/G ratio of 2.00 and a beta of 1.36. The company has a current ratio of 1.64, a quick ratio of 1.13 and a debt-to-equity ratio of 0.41.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.04. Eaton had a return on equity of 12.84% and a net margin of 14.60%. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. Eaton’s quarterly revenue was up 7.1% on a year-over-year basis. analysts expect that Eaton Co., PLC will post 5.15 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Monday, March 12th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Friday, March 9th. This is a positive change from Eaton’s previous quarterly dividend of $0.60. Eaton’s dividend payout ratio is currently 35.93%.

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Eaton Profile

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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