Jacobson & Schmitt Advisors LLC Sells 151 Shares of Eaton Co. plc (NYSE:ETN)

Jacobson & Schmitt Advisors LLC lowered its position in Eaton Co. plc (NYSE:ETN) by 7.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm 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 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norden Group LLC bought a new position in Eaton in the 1st quarter worth $2,176,000. IAM Advisory LLC bought a new position in shares of Eaton during the 2nd quarter valued at about $599,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Eaton by 19.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock valued at $24,616,000 after purchasing an additional 12,689 shares during the last quarter. Interval Partners LP boosted its holdings in shares of Eaton by 82.7% during the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock valued at $47,571,000 after purchasing an additional 68,693 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Eaton by 302.4% during the 1st quarter. Empowered Funds LLC now owns 23,273 shares of the industrial products company’s stock valued at $7,277,000 after purchasing an additional 17,490 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

ETN has been the subject of several research reports. Mizuho increased their price objective on shares of Eaton from $355.00 to $365.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Barclays upped their target price on shares of Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Citigroup assumed coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 target price on the stock. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Raymond James reduced their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Four investment 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.com, Eaton presently has an average rating of “Moderate Buy” and an average price target of $340.06.

Insider Activity

In other news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the transaction, the insider now directly owns 71,262 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,511 shares of company stock worth $15,809,326. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Shares of NYSE:ETN opened at $331.54 on Friday. The firm has a market cap of $131.99 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The firm’s 50 day simple moving average is $322.39 and its 200-day simple moving average is $318.15. Eaton Co. plc has a one year low of $198.68 and a one year high of $349.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56.

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

Eaton Dividend Announcement

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 paid a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.13%. Eaton’s dividend payout ratio is presently 41.36%.

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.