Fairview Capital Investment Management LLC Buys Shares of 753 Eaton Co. plc (NYSE:ETN)

Fairview Capital Investment Management LLC purchased a new position in Eaton Co. plc (NYSE:ETN) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 753 shares of the industrial products company’s stock, valued at approximately $235,000.

Other institutional investors have also recently bought and sold shares of the company. Verdence Capital Advisors LLC increased its holdings in shares of Eaton by 1.7% in the first quarter. Verdence Capital Advisors LLC now owns 2,059 shares of the industrial products company’s stock valued at $644,000 after purchasing an additional 34 shares in the last quarter. Fragasso Group Inc. increased its stake in shares of Eaton by 3.6% in the 1st quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company’s stock valued at $323,000 after buying an additional 36 shares during the period. Valley National Advisers Inc. raised its position in shares of Eaton by 5.6% during the first quarter. Valley National Advisers Inc. now owns 682 shares of the industrial products company’s stock worth $213,000 after acquiring an additional 36 shares during the last quarter. Wendell David Associates Inc. lifted its stake in shares of Eaton by 4.0% during the first quarter. Wendell David Associates Inc. now owns 936 shares of the industrial products company’s stock valued at $293,000 after acquiring an additional 36 shares during the period. Finally, FinTrust Capital Advisors LLC increased its position in Eaton by 2.6% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,481 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other Eaton news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was 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 $1,687,738.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays raised their target price on Eaton from $316.00 to $318.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price objective on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $286.00 to $371.00 in a report on Friday, April 5th. Jefferies Financial Group boosted their price target on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, Mizuho reaffirmed a “buy” rating and set a $355.00 price objective (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 fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $323.06.

Eaton Stock Up 1.7 %

Shares of ETN traded up $4.91 during mid-day trading on Friday, hitting $297.79. 3,090,006 shares of the company’s stock were exchanged, compared to its average volume of 2,170,230. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $345.19. The company has a market cap of $119.06 billion, a PE ratio of 35.16, a P/E/G ratio of 2.49 and a beta of 1.02. The company has a 50-day simple moving average of $322.30 and a 200 day simple moving average of $303.69.

Eaton (NYSE:ETN) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The firm’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 earnings per share. On average, research analysts forecast that Eaton Co. plc will post 10.56 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, August 5th. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

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.