Janus Henderson Group PLC Increases Position in Eaton Co. plc (NYSE:ETN)

Janus Henderson Group PLC increased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 15.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,318,025 shares of the industrial products company’s stock after acquiring an additional 176,571 shares during the quarter. Janus Henderson Group PLC owned approximately 0.33% of Eaton worth $412,108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ETN. Verdence Capital Advisors LLC boosted its holdings in shares of Eaton by 1.7% in the 1st quarter. Verdence Capital Advisors LLC now owns 2,059 shares of the industrial products company’s stock worth $644,000 after purchasing an additional 34 shares in the last quarter. Fragasso Group Inc. boosted its stake in Eaton by 3.6% in the first quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company’s stock worth $323,000 after buying an additional 36 shares in the last quarter. Valley National Advisers Inc. grew its position in Eaton by 5.6% during the first quarter. Valley National Advisers Inc. now owns 682 shares of the industrial products company’s stock valued at $213,000 after acquiring an additional 36 shares during the last quarter. Wendell David Associates Inc. raised its stake in shares of Eaton by 4.0% during the first quarter. Wendell David Associates Inc. now owns 936 shares of the industrial products company’s stock worth $293,000 after acquiring an additional 36 shares in the last quarter. Finally, FinTrust Capital Advisors LLC lifted its holdings in shares of Eaton by 2.6% in the 4th quarter. FinTrust Capital Advisors LLC now owns 1,481 shares of the industrial products company’s stock worth $357,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of analyst reports. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $286.00 to $371.00 in a research report on Friday, April 5th. Barclays raised their price target on Eaton from $316.00 to $318.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Mizuho reiterated a “buy” rating and issued a $355.00 price objective (up previously from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. JPMorgan Chase & Co. raised their target price on shares of Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Wolfe Research reiterated an “underperform” rating and set a $312.00 price target on shares of Eaton in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $323.06.

Eaton Stock Down 3.2 %

Shares of NYSE ETN traded down $9.37 on Tuesday, reaching $287.24. 4,776,381 shares of the company’s stock traded hands, compared to its average volume of 2,088,127. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The business’s 50 day simple moving average is $321.57 and its two-hundred day simple moving average is $304.51. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $345.19. The company has a market cap of $114.84 billion, a price-to-earnings ratio of 33.81, a price-to-earnings-growth ratio of 2.49 and a beta of 1.02.

Eaton (NYSE:ETN) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the company posted $1.88 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that Eaton Co. plc will post 10.56 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be issued a $0.94 dividend. The ex-dividend date is Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.31%. Eaton’s payout ratio is 44.39%.

Insiders Place Their Bets

In other news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the sale, the insider now directly owns 5,086 shares in the company, valued at $1,687,738.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is owned by insiders.

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.