Janus Henderson Group PLC Has $998.14 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Janus Henderson Group PLC boosted its stake in shares of Eaton Co. plc (NYSE:ETN) by 24.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,007,570 shares of the industrial products company’s stock after purchasing an additional 588,370 shares during the quarter. Janus Henderson Group PLC owned about 0.76% of Eaton worth $998,144,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gotham Asset Management LLC raised its position in shares of Eaton by 12.8% during the fourth quarter. Gotham Asset Management LLC now owns 46,904 shares of the industrial products company’s stock valued at $15,566,000 after buying an additional 5,308 shares during the last quarter. Ensign Peak Advisors Inc increased its stake in Eaton by 11.9% during the fourth quarter. Ensign Peak Advisors Inc now owns 61,627 shares of the industrial products company’s stock valued at $20,452,000 after acquiring an additional 6,553 shares during the period. Ethic Inc. raised its holdings in Eaton by 27.0% in the 4th quarter. Ethic Inc. now owns 36,536 shares of the industrial products company’s stock valued at $12,125,000 after acquiring an additional 7,761 shares in the last quarter. Fiduciary Trust Co lifted its position in shares of Eaton by 5.7% in the 4th quarter. Fiduciary Trust Co now owns 26,670 shares of the industrial products company’s stock worth $8,851,000 after acquiring an additional 1,449 shares during the period. Finally, FWL Investment Management LLC grew its holdings in shares of Eaton by 7.7% during the 4th quarter. FWL Investment Management LLC now owns 22,852 shares of the industrial products company’s stock worth $7,584,000 after purchasing an additional 1,643 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In related news, insider Michael Yelton sold 2,120 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Craig Arnold sold 51,054 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $305.43, for a total value of $15,593,423.22. Following the transaction, the insider now directly owns 489,444 shares of the company’s stock, valued at approximately $149,490,880.92. The trade was a 9.45 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ETN shares. Melius Research reaffirmed a “hold” rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Citigroup boosted their price target on Eaton from $323.00 to $351.00 and gave the company a “buy” rating in a research note on Monday, May 5th. StockNews.com lowered Eaton from a “buy” rating to a “hold” rating in a research note on Saturday. KeyCorp boosted their target price on shares of Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Finally, Morgan Stanley dropped their target price on shares of Eaton from $385.00 to $375.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $361.13.

Eaton Price Performance

Eaton stock opened at $310.01 on Friday. The firm has a market cap of $121.31 billion, a PE ratio of 32.63, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The stock’s fifty day moving average price is $282.81 and its two-hundred day moving average price is $320.13. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter in the prior year, the business posted $2.40 earnings per share. Eaton’s revenue was up 7.3% compared to the same quarter last year. As a group, research analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.34%. The ex-dividend date is Monday, May 5th. Eaton’s payout ratio is presently 41.98%.

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.