Jackson Square Capital LLC Reduces Stake in Eaton Co. plc (NYSE:ETN)

Jackson Square Capital LLC lowered its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 8.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,471 shares of the industrial products company's stock after selling 1,719 shares during the quarter. Eaton accounts for 1.6% of Jackson Square Capital LLC's investment portfolio, making the stock its 15th largest holding. Jackson Square Capital LLC's holdings in Eaton were worth $6,462,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Groupama Asset Managment boosted its stake in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock worth $31,000 after buying an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN boosted its position in Eaton by 321.7% in 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 bought a new position in Eaton in the 3rd quarter valued at $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton during the 3rd quarter valued at $35,000. Finally, DT Investment Partners LLC bought a new stake in shares of Eaton during the 3rd quarter worth $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of research analyst reports. Jefferies Financial Group raised their price objective on shares of Eaton from $400.00 to $440.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Mizuho lifted their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Wells Fargo & Company reduced their price objective on Eaton from $365.00 to $350.00 and set an "equal weight" rating for the company in a report on Tuesday, January 7th. Barclays boosted their price target on shares of Eaton from $320.00 to $353.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Finally, Citigroup dropped their target price on Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, Eaton presently has an average rating of "Moderate Buy" and a consensus target price of $368.89.

Insider Activity

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares in the company, valued at $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,981 shares of company stock valued at $27,660,117. Corporate insiders own 0.33% of the company's stock.

Eaton Price Performance

Shares of NYSE ETN traded up $1.35 during mid-day trading on Friday, reaching $346.54. 2,454,294 shares of the company were exchanged, compared to its average volume of 1,724,943. The stock has a market capitalization of $136.95 billion, a PE ratio of 36.87, a PEG ratio of 2.27 and a beta of 1.06. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 52 week low of $236.20 and a 52 week high of $379.99. The company's 50 day moving average price is $354.32 and its 200 day moving average price is $329.89.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.47 EPS. Sell-side analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a $0.94 dividend. The ex-dividend date was 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 40.00%.

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.