Junto Capital Management LP Makes New Investment in Eaton Co. plc (NYSE:ETN)

Junto Capital Management LP acquired a new stake in shares of Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 192,779 shares of the industrial products company’s stock, valued at approximately $46,425,000.

Several other hedge funds have also made changes to their positions in the stock. FinTrust Capital Advisors LLC lifted its position 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 period. Meeder Asset Management Inc. increased its holdings in Eaton by 3.3% in the 4th quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock valued at $317,000 after buying an additional 42 shares during the period. Telemus Capital LLC raised its stake in shares of Eaton by 1.0% in the 4th quarter. Telemus Capital LLC now owns 4,111 shares of the industrial products company’s stock valued at $990,000 after buying an additional 42 shares in the last quarter. Amarillo National Bank lifted its holdings in shares of Eaton by 3.5% during the 4th quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company’s stock worth $306,000 after acquiring an additional 43 shares during the period. Finally, Monument Capital Management boosted its position in shares of Eaton by 1.9% during the 4th quarter. Monument Capital Management now owns 2,415 shares of the industrial products company’s stock valued at $582,000 after acquiring an additional 44 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Mizuho restated a “buy” rating and set a $355.00 price target (up previously from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. HSBC boosted their price target on Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Berenberg Bank increased their price objective on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $286.00 to $371.00 in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Insider Buying and Selling

In other Eaton news, insider Peter Denk sold 2,416 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total transaction of $801,725.44. Following the transaction, the insider now owns 5,086 shares in the company, valued at $1,687,738.24. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.33% of the stock is owned by insiders.

Eaton Trading Up 2.6 %

Eaton stock traded up $8.17 during mid-day trading on Monday, hitting $323.00. The stock had a trading volume of 2,049,983 shares, compared to its average volume of 2,020,664. The stock has a 50-day simple moving average of $323.85 and a two-hundred day simple moving average of $284.04. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $129.14 billion, a PE ratio of 38.13, a P/E/G ratio of 2.63 and a beta of 1.04. Eaton Co. plc has a 12 month low of $185.55 and a 12 month high of $345.19.

Eaton (NYSE:ETN) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the firm earned $1.88 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, sell-side analysts forecast that Eaton Co. plc will post 10.56 EPS for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were given a $0.94 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.16%. Eaton’s dividend payout ratio is currently 44.39%.

Eaton 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.