Fairman Group LLC Acquires New Holdings in Eaton Co. plc (NYSE:ETN)

Fairman Group LLC bought a new stake in Eaton Co. plc (NYSE:ETNFree Report) in the 4th quarter, HoldingsChannel reports. The fund bought 431 shares of the industrial products company’s stock, valued at approximately $104,000.

Other institutional investors also recently bought and sold shares of the company. Napatree Capital LLC acquired a new stake in shares of Eaton during the fourth quarter worth $771,000. B. Riley Wealth Advisors Inc. lifted its position in Eaton by 4.8% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 22,990 shares of the industrial products company’s stock valued at $5,536,000 after purchasing an additional 1,057 shares during the period. Walden Wealth Partners LLC acquired a new position in Eaton during the fourth quarter valued at $361,000. Ables Iannone Moore & Associates Inc. acquired a new position in Eaton during the fourth quarter valued at $84,000. Finally, Leo Wealth LLC purchased a new position in Eaton in the fourth quarter valued at $323,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Down 0.8 %

Shares of ETN stock traded down $2.66 during mid-day trading on Tuesday, reaching $322.67. 143,707 shares of the company were exchanged, compared to its average volume of 2,006,405. Eaton Co. plc has a fifty-two week low of $189.26 and a fifty-two week high of $345.19. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. The company has a market capitalization of $129.00 billion, a P/E ratio of 38.42, a P/E/G ratio of 2.67 and a beta of 1.04. The business’s 50 day simple moving average is $323.98 and its 200 day simple moving average is $287.44.

Eaton (NYSE:ETNGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same period last year, the business posted $1.88 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts predict that Eaton Co. plc will post 10.56 earnings per share for the current year.

Eaton Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ETN shares. Berenberg Bank lifted their price objective on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Argus lifted their price objective on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Evercore ISI boosted their target price on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. boosted their target price 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, Mizuho reissued a “buy” rating and set a $355.00 target price (up previously from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Read Our Latest Stock Analysis on ETN

Insider Buying and Selling

In other news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction that occurred 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 transaction, the insider now owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.33% of the stock is owned by corporate insiders.

Eaton Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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