Jackson Wealth Management LLC Boosts Stock Position in Eaton Co. plc (NYSE:ETN)

Jackson Wealth Management LLC grew its holdings in Eaton Co. plc (NYSE:ETN) by 73.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,781 shares of the industrial products company’s stock after buying an additional 11,794 shares during the quarter. Eaton accounts for 1.1% of Jackson Wealth Management LLC’s investment portfolio, making the stock its 22nd largest position. Jackson Wealth Management LLC’s holdings in Eaton were worth $9,208,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Moody Aldrich Partners LLC acquired a new stake in shares of Eaton in the third quarter worth approximately $328,000. Lafayette Investments Inc. boosted its stake in shares of Eaton by 103.4% in the third quarter. Lafayette Investments Inc. now owns 1,475 shares of the industrial products company’s stock worth $489,000 after acquiring an additional 750 shares during the last quarter. Grimes & Company Inc. boosted its stake in shares of Eaton by 0.4% in the third quarter. Grimes & Company Inc. now owns 38,886 shares of the industrial products company’s stock worth $12,888,000 after acquiring an additional 151 shares during the last quarter. Greystone Financial Group LLC acquired a new position in Eaton during the third quarter worth $547,000. Finally, Beese Fulmer Investment Management Inc. boosted its stake in Eaton by 5.3% during the third quarter. Beese Fulmer Investment Management Inc. now owns 39,961 shares of the industrial products company’s stock worth $13,245,000 after buying an additional 2,018 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the transaction, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dorothy C. Thompson purchased 2,205 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is currently owned by insiders.

Eaton Stock Down 0.2 %

NYSE ETN traded down $0.54 during trading hours on Thursday, hitting $344.42. 289,734 shares of the company were exchanged, compared to its average volume of 2,096,425. Eaton Co. plc has a 52-week low of $193.77 and a 52-week high of $349.74. The firm has a market cap of $137.70 billion, a price-to-earnings ratio of 40.73, a PEG ratio of 2.58 and a beta of 1.02. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average of $317.08 and a two-hundred day moving average of $317.12.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Equities research analysts anticipate that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. Eaton’s payout ratio is currently 44.39%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ETN. Morgan Stanley began coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective on the stock. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Evercore ISI decreased their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Mizuho upped their price target on Eaton from $355.00 to $365.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company upped their price target on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $340.06.

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.