Jacobson & Schmitt Advisors LLC Decreases Stake in Eaton Co. plc (NYSE:ETN)

Jacobson & Schmitt Advisors LLC lowered its stake in Eaton Co. plc (NYSE:ETN) by 7.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,812 shares of the industrial products company’s stock after selling 151 shares during the period. Jacobson & Schmitt Advisors LLC’s holdings in Eaton were worth $601,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Fairfield Financial Advisors LTD raised its holdings in shares of Eaton by 16.2% in the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after buying an additional 30 shares during the last quarter. Rosenberg Matthew Hamilton raised its holdings in shares of Eaton by 5.1% during the third quarter. Rosenberg Matthew Hamilton now owns 1,015 shares of the industrial products company’s stock worth $336,000 after purchasing an additional 49 shares during the last quarter. US Bancorp DE raised its holdings in shares of Eaton by 41.0% during the third quarter. US Bancorp DE now owns 288,083 shares of the industrial products company’s stock worth $95,483,000 after purchasing an additional 83,799 shares during the last quarter. HM Payson & Co. raised its holdings in shares of 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 during the last quarter. Finally, Meitav Investment House Ltd. purchased a new position in shares of Eaton during the third quarter worth $51,875,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 3.3 %

Shares of NYSE ETN opened at $331.54 on Friday. The company’s 50-day simple moving average is $322.39 and its 200-day simple moving average is $318.15. Eaton Co. plc has a 52-week low of $198.68 and a 52-week high of $349.74. The firm has a market cap of $131.99 billion, a price-to-earnings ratio of 36.47, a price-to-earnings-growth ratio of 2.62 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.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.47 earnings per share. Equities analysts predict that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.13%. Eaton’s payout ratio is presently 41.36%.

Analysts Set New Price Targets

Several research analysts recently issued reports on ETN shares. Jefferies Financial Group raised their target price on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Barclays raised their target price on shares of Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Citigroup began coverage on shares of Eaton in a report on Monday, September 16th. They set a “buy” rating and a $348.00 target price for the company. Finally, Wells Fargo & Company lifted their price objective on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.06.

Insider Buying and Selling

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

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.