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

Janus Henderson Group PLC increased its holdings in Eaton Co. plc (NYSE:ETN) by 24.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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’s holdings in Eaton were worth $998,144,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wetzel Investment Advisors Inc. increased its holdings in shares of Eaton by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock worth $1,029,000 after buying an additional 28 shares during the period. Westmount Partners LLC increased its stake in Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 30 shares during the period. Signal Advisors Wealth LLC lifted its position in Eaton by 3.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after purchasing an additional 30 shares during the last quarter. Lantz Financial LLC boosted its stake in shares of Eaton by 4.8% during the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 30 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in shares of Eaton by 2.0% in the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company’s stock worth $544,000 after buying an additional 32 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

Shares of ETN opened at $310.01 on Friday. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The stock has a market cap of $121.31 billion, a P/E ratio of 32.63, a P/E/G ratio of 2.64 and a beta of 1.14. The business’s 50 day moving average price is $282.81 and its 200-day moving average price is $320.13.

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

Eaton Dividend Announcement

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

Insider Activity at Eaton

In other Eaton news, insider Craig Arnold sold 51,054 shares of the 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 owns 489,444 shares of the company’s stock, valued at approximately $149,490,880.92. This represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the transaction, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ETN has been the subject of several analyst reports. Barclays dropped their price target on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a research report on Friday, April 4th. Citigroup raised their target price on Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. KeyCorp upped their price target on Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Jefferies Financial Group cut their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Finally, Royal Bank of Canada upped their target price on Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a report on Monday, May 5th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $361.13.

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.