JB Capital LLC Raises Holdings in Eaton Co. plc (NYSE:ETN)

JB Capital LLC raised its stake in Eaton Co. plc (NYSE:ETN) by 13.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,504 shares of the industrial products company’s stock after purchasing an additional 1,375 shares during the quarter. JB Capital LLC’s holdings in Eaton were worth $3,813,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. IAM Advisory LLC purchased a new stake in Eaton during the 2nd quarter valued at $599,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of Eaton by 19.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock worth $24,616,000 after purchasing an additional 12,689 shares during the last quarter. Interval Partners LP increased its holdings in Eaton by 82.7% during the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock valued at $47,571,000 after purchasing an additional 68,693 shares during the period. Empowered Funds LLC raised its position in Eaton by 302.4% during the 1st quarter. Empowered Funds LLC now owns 23,273 shares of the industrial products company’s stock valued at $7,277,000 after purchasing an additional 17,490 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in Eaton by 40.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 19,513 shares of the industrial products company’s stock worth $6,101,000 after buying an additional 5,634 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Dorothy C. Thompson bought 2,205 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gregory R. Page sold 4,000 shares of the 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 directly owns 51,422 shares in the company, valued at $17,241,796.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,511 shares of company stock valued at $17,150,526. Corporate insiders own 0.33% of the company’s stock.

Eaton Stock Up 1.0 %

Shares of ETN traded up $3.52 during trading hours on Thursday, hitting $362.70. The company had a trading volume of 433,478 shares, compared to its average volume of 2,105,785. The stock has a market capitalization of $143.34 billion, a price-to-earnings ratio of 38.22, a P/E/G ratio of 2.66 and a beta of 1.01. The firm has a fifty day moving average price of $325.92 and a 200-day moving average price of $319.05. Eaton Co. plc has a 52-week low of $215.64 and a 52-week high of $366.08. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the previous year, the company earned $2.47 earnings per share. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities research analysts forecast that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.04%. Eaton’s dividend payout ratio is 40.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ETN shares. Mizuho upped their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. 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. Jefferies Financial Group lifted their target price on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $374.00 price objective on shares of Eaton in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $343.28.

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.