Jackson Square Capital LLC Buys 17,173 Shares of Eaton Co. plc (NYSE:ETN)

Jackson Square Capital LLC grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 427.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,190 shares of the industrial products company’s stock after purchasing an additional 17,173 shares during the period. Eaton makes up 1.7% of Jackson Square Capital LLC’s investment portfolio, making the stock its 12th largest holding. Jackson Square Capital LLC’s holdings in Eaton were worth $7,023,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of ETN. Capital World Investors boosted its stake in shares of Eaton by 323.8% during the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after purchasing an additional 2,439,270 shares in the last quarter. International Assets Investment Management LLC lifted its position in Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after acquiring an additional 1,070,024 shares during the period. Swedbank AB purchased a new position in Eaton in the second quarter worth about $225,974,000. Assenagon Asset Management S.A. raised its holdings in Eaton by 1,604.4% in the second quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock worth $211,201,000 after buying an additional 634,059 shares during the last quarter. Finally, Wulff Hansen & CO. raised its holdings in Eaton by 31,255.0% in the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock worth $149,928,000 after buying an additional 476,639 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $374.00 target price on shares of Eaton in a report on Friday, November 1st. Morgan Stanley assumed coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price for the company. Wells Fargo & Company boosted their price objective on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Barclays decreased their price objective on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Finally, Evercore ISI decreased their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $343.28.

Eaton Stock Performance

ETN opened at $359.26 on Thursday. The firm has a market cap of $141.98 billion, a P/E ratio of 38.22, a PEG ratio of 2.66 and a beta of 1.01. Eaton Co. plc has a 1-year low of $214.03 and a 1-year high of $366.08. The company has a 50 day simple moving average of $325.92 and a two-hundred day simple moving average of $319.05. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.47 earnings per share. Equities analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.05%. Eaton’s payout ratio is currently 40.00%.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the transaction, the director now owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares in the company, valued at approximately $17,241,796.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,511 shares of company stock valued at $17,150,526. 0.33% of the stock is currently owned by corporate insiders.

Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.