Eaton Co. plc (NYSE:ETN) Shares Sold by Jacobi Capital Management LLC

Jacobi Capital Management LLC cut its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,583 shares of the industrial products company’s stock after selling 112 shares during the period. Jacobi Capital Management LLC’s holdings in Eaton were worth $2,184,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mutual Advisors LLC raised its holdings in Eaton by 20.5% during the third quarter. Mutual Advisors LLC now owns 6,383 shares of the industrial products company’s stock worth $2,204,000 after purchasing an additional 1,088 shares in the last quarter. JFS Wealth Advisors LLC raised its holdings in Eaton by 75.5% during the third quarter. JFS Wealth Advisors LLC now owns 2,910 shares of the industrial products company’s stock worth $965,000 after purchasing an additional 1,252 shares in the last quarter. Goldstone Financial Group LLC bought a new stake in Eaton during the third quarter worth approximately $341,000. HM Payson & Co. raised its holdings in Eaton by 44.5% during the third quarter. HM Payson & Co. now owns 2,956 shares of the industrial products company’s stock worth $980,000 after purchasing an additional 910 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of Eaton by 41.0% in the third quarter. US Bancorp DE now owns 288,083 shares of the industrial products company’s stock valued at $95,483,000 after buying an additional 83,799 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ETN. JPMorgan Chase & Co. dropped their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Barclays upped their price target on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Eaton in a report on Thursday, February 13th. Citigroup reduced their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $366.05.

Eaton Price Performance

Shares of ETN opened at $293.21 on Friday. The firm has a market cap of $115.88 billion, a PE ratio of 30.86, a PEG ratio of 2.64 and a beta of 1.05. The firm’s 50 day moving average price is $326.90 and its 200 day moving average price is $332.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating the consensus estimate 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 earned $2.55 EPS. As a group, research analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a $1.04 dividend. This is a positive change 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 1.42%. Eaton’s dividend payout ratio (DPR) is currently 39.58%.

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.