Jump Financial LLC Cuts Stock Holdings in Eaton Co. plc (NYSE:ETN)

Jump Financial LLC reduced its stake in Eaton Co. plc (NYSE:ETN) by 79.7% during the fourth quarter, HoldingsChannel reports. The firm owned 14,853 shares of the industrial products company’s stock after selling 58,219 shares during the period. Jump Financial LLC’s holdings in Eaton were worth $4,929,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Flagship Wealth Advisors LLC purchased a new stake in shares of Eaton during the 4th quarter valued at $27,000. Noble Wealth Management PBC purchased a new stake in Eaton during the fourth quarter valued at about $30,000. Horizon Bancorp Inc. IN lifted its stake in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new position in shares of Eaton in the 3rd quarter worth about $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton during the 4th quarter valued at about $33,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Trading Down 2.8 %

Shares of ETN opened at $269.42 on Thursday. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The firm has a market capitalization of $105.55 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 2.64 and a beta of 1.09. The firm’s 50-day moving average price is $286.96 and its 200-day moving average price is $326.08. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the prior year, the business posted $2.55 EPS. Sell-side analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.54%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, March 10th. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Analysts Set New Price Targets

ETN has been the subject of several research reports. Citigroup cut their target price on Eaton from $396.00 to $323.00 and set a “buy” rating for the company in a research note on Monday. Melius cut shares of 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. JPMorgan Chase & Co. cut their price target on shares of Eaton from $350.00 to $289.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. KeyCorp decreased their price objective on Eaton from $340.00 to $325.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company dropped their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average target price of $350.22.

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.