Jones Financial Companies Lllp Grows Stock Holdings in Eaton Co. plc (NYSE:ETN)

Jones Financial Companies Lllp grew its position in shares of Eaton Co. plc (NYSE:ETN) by 60.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 27,561 shares of the industrial products company’s stock after acquiring 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 reporting period.

Other large investors also recently modified their holdings of the company. Noble Wealth Management PBC bought a new position in Eaton during the fourth quarter valued at approximately $30,000. Horizon Bancorp Inc. IN boosted its stake in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new position in shares of Eaton during the 3rd quarter valued at $33,000. Activest Wealth Management raised its position in Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 87 shares during the period. Finally, Hager Investment Management Services LLC bought a new stake in Eaton in the fourth quarter worth $38,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.53% of the company’s stock.

Eaton Trading Down 5.3 %

ETN opened at $277.71 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The stock has a market cap of $109.75 billion, a PE ratio of 29.23, a PEG ratio of 2.64 and a beta of 1.05. The business has a 50 day moving average of $325.70 and a 200-day moving average of $332.62.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 in the previous year, the firm posted $2.55 EPS. Equities research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be paid a dividend of $1.04 per share. This is an increase from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.50%. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Bank of America raised their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Barclays decreased their price target on Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a research note on Monday. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research note on Tuesday, January 28th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Eaton in a research note on Thursday, February 13th. Finally, Melius Research reissued a “hold” rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $364.65.

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.