431 Shares in Eaton Co. plc (NYSE:ETN) Bought by Fairman Group LLC

Fairman Group LLC acquired a new stake in shares of Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 431 shares of the industrial products company’s stock, valued at approximately $104,000.

Several other hedge funds also recently added to or reduced their stakes in ETN. Rafferty Asset Management LLC lifted its position in shares of Eaton by 10.4% in the 3rd quarter. Rafferty Asset Management LLC now owns 31,733 shares of the industrial products company’s stock worth $6,768,000 after buying an additional 2,985 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Eaton during the 3rd quarter worth approximately $14,376,000. Envestnet Asset Management Inc. lifted its holdings in shares of Eaton by 12.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 813,433 shares of the industrial products company’s stock worth $173,489,000 after purchasing an additional 91,264 shares during the last quarter. TRUE Private Wealth Advisors grew its stake in Eaton by 14.2% during the 3rd quarter. TRUE Private Wealth Advisors now owns 1,476 shares of the industrial products company’s stock worth $315,000 after buying an additional 183 shares during the last quarter. Finally, Meridian Wealth Advisors LLC increased its position in Eaton by 0.7% in the third quarter. Meridian Wealth Advisors LLC now owns 26,438 shares of the industrial products company’s stock worth $5,639,000 after buying an additional 186 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ETN shares. Bank of America lifted their price objective on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Argus increased their target price on Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Berenberg Bank upped their price target on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. upped their price target on shares of Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $286.00 to $371.00 in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.27.

Eaton Stock Performance

Eaton stock traded down $2.66 during mid-day trading on Tuesday, reaching $322.67. The company had a trading volume of 143,707 shares, compared to its average volume of 2,006,405. The company has a 50 day moving average of $323.98 and a 200-day moving average of $287.44. Eaton Co. plc has a 52 week low of $189.26 and a 52 week high of $345.19. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The firm has a market cap of $129.00 billion, a price-to-earnings ratio of 38.42, a PEG ratio of 2.67 and a beta of 1.04.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.12. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. Eaton’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.88 EPS. On average, sell-side analysts expect that Eaton Co. plc will post 10.56 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were paid a $0.94 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.17%. Eaton’s dividend payout ratio is currently 44.39%.

Insider Activity

In other news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total value of $801,725.44. Following the sale, the insider now owns 5,086 shares in the company, valued at approximately $1,687,738.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by corporate 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.