Saxon Interests Inc. Has $1.72 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Saxon Interests Inc. decreased its stake in shares of Eaton Co. plc (NYSE:ETN) by 4.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,194 shares of the industrial products company’s stock after selling 222 shares during the quarter. Saxon Interests Inc.’s holdings in Eaton were worth $1,721,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Cresset Asset Management LLC grew its position in shares of Eaton by 6.4% in the 4th quarter. Cresset Asset Management LLC now owns 38,285 shares of the industrial products company’s stock valued at $9,220,000 after acquiring an additional 2,301 shares during the period. Nomura Holdings Inc. lifted its position in shares of Eaton by 1,656.0% in the fourth quarter. Nomura Holdings Inc. now owns 12,448 shares of the industrial products company’s stock valued at $2,998,000 after buying an additional 13,248 shares during the last quarter. MGO One Seven LLC boosted its stake in shares of Eaton by 5.4% during the 4th quarter. MGO One Seven LLC now owns 11,723 shares of the industrial products company’s stock worth $2,823,000 after acquiring an additional 598 shares during the period. Oribel Capital Management LP bought a new stake in Eaton in the 4th quarter valued at $27,622,000. Finally, Jacobi Capital Management LLC lifted its holdings in Eaton by 4.1% during the 4th quarter. Jacobi Capital Management LLC now owns 6,871 shares of the industrial products company’s stock valued at $1,655,000 after purchasing an additional 271 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ETN shares. Jefferies Financial Group upped their price objective on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Royal Bank of Canada decreased their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Evercore ISI cut their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Citigroup started coverage on Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 target price on the stock. Finally, Morgan Stanley began coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $339.47.

Eaton Price Performance

Shares of NYSE ETN traded up $0.93 during trading hours on Wednesday, hitting $336.51. 143,801 shares of the stock were exchanged, compared to its average volume of 2,140,158. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19. The company has a market cap of $134.54 billion, a PE ratio of 39.61, a price-to-earnings-growth ratio of 2.53 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The company’s fifty day simple moving average is $305.05 and its two-hundred day simple moving average is $315.05.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. On average, sell-side analysts predict that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s payout ratio is 44.39%.

Insider Buying and Selling at Eaton

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction 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 sale, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, 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 transaction, the insider now directly owns 71,262 shares in the company, valued at approximately $21,451,287.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,511 shares of company stock worth $15,809,326. 0.53% 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.