Eaton Co. plc (NYSE:ETN) Stock Holdings Lowered by Jackson Square Capital LLC

Jackson Square Capital LLC lowered its position in shares of Eaton Co. plc (NYSE:ETNFree Report) by 91.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,733 shares of the industrial products company’s stock after selling 17,738 shares during the period. Jackson Square Capital LLC’s holdings in Eaton were worth $471,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ETN. Norden Group LLC boosted its position in shares of Eaton by 3.4% during the 4th quarter. Norden Group LLC now owns 978 shares of the industrial products company’s stock valued at $325,000 after purchasing an additional 32 shares in the last quarter. Nwam LLC lifted its position in shares of Eaton by 0.6% in the fourth quarter. Nwam LLC now owns 5,314 shares of the industrial products company’s stock worth $1,764,000 after purchasing an additional 34 shares in the last quarter. Founders Financial Alliance LLC raised its position in Eaton by 0.7% during the fourth quarter. Founders Financial Alliance LLC now owns 5,415 shares of the industrial products company’s stock valued at $1,797,000 after acquiring an additional 35 shares in the last quarter. Sound View Wealth Advisors Group LLC raised its position in Eaton by 1.1% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 3,587 shares of the industrial products company’s stock valued at $1,190,000 after acquiring an additional 38 shares in the last quarter. Finally, Lantern Wealth Advisors LLC grew its holdings in Eaton by 1.0% during the fourth quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company’s stock valued at $1,340,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

ETN has been the topic of several research analyst reports. Evercore ISI raised their price objective on shares of Eaton from $326.00 to $349.00 and gave the stock an “in-line” rating in a research note on Monday, May 19th. Morgan Stanley cut their price objective on Eaton from $385.00 to $375.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Barclays lifted their price objective on Eaton from $306.00 to $323.00 and gave the company an “equal weight” rating in a report on Monday, June 9th. KeyCorp lifted their price target on Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Finally, Wall Street Zen raised Eaton from a “hold” rating to a “buy” rating in a report on Sunday, May 18th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $368.78.

Check Out Our Latest Stock Report on Eaton

Eaton Price Performance

Shares of NYSE ETN opened at $323.26 on Friday. The firm has a market capitalization of $126.49 billion, a P/E ratio of 34.03, a P/E/G ratio of 2.64 and a beta of 1.16. 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 stock’s 50-day simple moving average is $304.79 and its two-hundred day simple moving average is $315.02. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99.

Eaton (NYSE:ETNGet Free Report) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the prior year, the firm posted $2.40 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.29%. Eaton’s dividend payout ratio (DPR) is presently 41.98%.

Insiders Place Their Bets

In other news, insider Michael Yelton sold 2,120 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the transaction, the insider now owns 3,382 shares of the company’s stock, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Craig Arnold sold 51,054 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the sale, the insider now directly owns 489,444 shares of the company’s stock, valued at approximately $149,490,880.92. This trade represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,660 shares of company stock valued at $49,622,894. Insiders own 0.30% of the company’s stock.

Eaton Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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