Eaton Co. plc (NYSE:ETN) Shares Sold by Jackson Square Capital LLC

Jackson Square Capital LLC trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 91.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,733 shares of the industrial products company's stock after selling 17,738 shares during the period. Jackson Square Capital LLC's holdings in Eaton were worth $471,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Eaton by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock worth $12,351,506,000 after buying an additional 99,291 shares during the period. FMR LLC raised its position in shares of Eaton by 1.2% during the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock valued at $5,051,807,000 after buying an additional 182,455 shares during the last quarter. Geode Capital Management LLC lifted its position in Eaton by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock worth $2,714,677,000 after purchasing an additional 129,071 shares during the period. Nuveen Asset Management LLC increased its stake in Eaton by 4.3% in the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock valued at $1,550,226,000 after acquiring an additional 192,482 shares during the period. Finally, Northern Trust Corp boosted its stake in Eaton by 8.8% in the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock valued at $1,518,207,000 after buying an additional 368,241 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Trading Down 2.2%

Eaton stock traded down $7.56 during trading hours on Tuesday, hitting $330.45. The company had a trading volume of 1,868,063 shares, compared to its average volume of 3,259,833. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a market cap of $129.30 billion, a P/E ratio of 34.78, a P/E/G ratio of 2.64 and a beta of 1.16. The company has a 50-day moving average price of $306.54 and a two-hundred day moving average price of $313.96. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. Eaton's revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $2.40 earnings per share. On average, sell-side analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a dividend of $1.04 per share. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.26%. Eaton's payout ratio is presently 41.98%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ETN. BNP Paribas Exane began coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Barclays lifted their price objective on shares of Eaton from $306.00 to $323.00 and gave the stock an "equal weight" rating in a research note on Monday, June 9th. Royal Bank of Canada lifted their price objective on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Citigroup lifted their target price on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Finally, Evercore ISI raised their price objective on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $368.78.

Insider Buying and Selling

In other Eaton news, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider now directly owns 3,382 shares of the company's stock, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider now directly owns 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock valued at $49,622,894 over the last quarter. 0.30% of the stock is currently owned by company insiders.

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.