Jacobs & Co. CA Has $242,000 Stake in Eaton Co. plc (NYSE:ETN)

Jacobs & Co. CA reduced its stake in shares of Eaton Co. plc (NYSE:ETN) by 9.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 731 shares of the industrial products company’s stock after selling 80 shares during the period. Jacobs & Co. CA’s holdings in Eaton were worth $242,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ETN. B. Riley Wealth Advisors Inc. raised its position in shares of Eaton by 48.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after acquiring an additional 13,497 shares in the last quarter. Interval Partners LP raised its position in shares of Eaton by 82.7% in the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after acquiring an additional 68,693 shares in the last quarter. Scientech Research LLC raised its position in shares of Eaton by 285.5% in the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock worth $1,801,000 after acquiring an additional 4,254 shares in the last quarter. Neville Rodie & Shaw Inc. grew its stake in shares of Eaton by 6.8% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company’s stock valued at $12,739,000 after buying an additional 2,428 shares during the period. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Eaton in the 3rd quarter valued at about $1,160,000. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Eaton

In related news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The stock was 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 $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock valued at $27,660,117 in the last 90 days. 0.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ETN. Royal Bank of Canada raised their target price on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. UBS Group initiated coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target for the company. Sanford C. Bernstein initiated coverage on Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. Wells Fargo & Company cut their price target on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Jefferies Financial Group lifted their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $369.28.

Eaton Stock Performance

Shares of NYSE:ETN traded down $3.49 during mid-day trading on Friday, reaching $341.62. The company had a trading volume of 1,137,912 shares, compared to its average volume of 2,134,041. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a market cap of $135.01 billion, a price-to-earnings ratio of 36.34, a PEG ratio of 2.70 and a beta of 1.06. The company’s 50-day moving average price is $355.01 and its 200-day moving average price is $328.69. Eaton Co. plc has a one year low of $236.04 and a one year high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. Eaton’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.47 EPS. As a group, equities research analysts anticipate that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.10%. Eaton’s payout ratio is 40.00%.

About Eaton

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.