JB Capital LLC Has $3.18 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

JB Capital LLC lowered its holdings in shares of Eaton Co. plc (NYSE:ETN) by 26.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,129 shares of the industrial products company’s stock after selling 3,730 shares during the period. JB Capital LLC’s holdings in Eaton were worth $3,176,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Tennessee Valley Asset Management Partners bought a new stake in shares of Eaton in the 4th quarter valued at $25,000. LifeSteps Financial Inc. acquired a new position in shares of Eaton during the first quarter valued at about $25,000. Atwood & Palmer Inc. grew its stake in shares of Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after buying an additional 50 shares during the period. Clear Investment Research LLC bought a new stake in Eaton in the 4th quarter valued at about $29,000. Finally, Proffitt & Goodson Inc. bought a new stake in Eaton in the 2nd quarter valued at about $29,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Up 0.8 %

Shares of NYSE:ETN traded up $2.31 during trading on Friday, hitting $300.00. The stock had a trading volume of 1,927,592 shares, compared to its average volume of 2,173,228. The firm’s fifty day moving average is $308.07 and its 200 day moving average is $309.31. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $119.94 billion, a PE ratio of 35.42, a PEG ratio of 2.47 and a beta of 1.02. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $345.19.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Monday, August 5th. Eaton’s payout ratio is 44.39%.

Insider Buying and Selling at Eaton

In related 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 value of $14,762,020.80. Following the completion of the sale, the insider now directly owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $14,762,020.80. Following the completion of the sale, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. 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. Argus raised their price objective on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Jefferies Financial Group boosted their target price on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average target price of $328.00.

About Eaton

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.