Jones Financial Companies Lllp Raises Position in Eaton Co. plc (NYSE:ETN)

Jones Financial Companies Lllp lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 60.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,561 shares of the industrial products company’s stock after buying an additional 10,351 shares during the period. Jones Financial Companies Lllp’s holdings in Eaton were worth $9,147,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Eaton by 253.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after acquiring an additional 1,629,856 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in Eaton by 42,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock worth $243,036,000 after purchasing an additional 730,594 shares during the last quarter. Janus Henderson Group PLC grew its position in Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after purchasing an additional 597,700 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Eaton in the 3rd quarter valued at about $137,794,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Eaton by 3,508.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock worth $133,321,000 after buying an additional 390,595 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the transaction, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ETN. Bank of America upped their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. reduced their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Royal Bank of Canada reiterated an “outperform” rating on shares of Eaton in a research note on Thursday, February 13th. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a report on Tuesday, January 28th. Finally, Sanford C. Bernstein assumed coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $364.65.

Eaton Trading Down 5.3 %

Shares of ETN opened at $277.71 on Tuesday. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The stock has a market cap of $109.75 billion, a PE ratio of 29.23, a P/E/G ratio of 2.64 and a beta of 1.05. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $325.70 and its 200-day moving average price is $332.62.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the firm posted $2.55 EPS. On average, equities analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.50%. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. Eaton’s payout ratio is presently 43.79%.

Eaton Company 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.