Eaton Co. plc (NYSE:ETN) Shares Bought by Beese Fulmer Investment Management Inc.

Beese Fulmer Investment Management Inc. raised its holdings in Eaton Co. plc (NYSE:ETN) by 8.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,902 shares of the industrial products company’s stock after purchasing an additional 3,294 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Eaton were worth $11,934,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ETN. Brighton Jones LLC grew its holdings in Eaton by 1.4% in the fourth quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company’s stock valued at $1,109,000 after purchasing an additional 45 shares during the period. Revolve Wealth Partners LLC grew its holdings in Eaton by 17.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company’s stock valued at $303,000 after purchasing an additional 136 shares during the period. OLD National Bancorp IN grew its holdings in Eaton by 3.4% in the fourth quarter. OLD National Bancorp IN now owns 4,959 shares of the industrial products company’s stock valued at $1,646,000 after purchasing an additional 164 shares during the period. Crews Bank & Trust acquired a new stake in shares of Eaton in the fourth quarter worth approximately $357,000. Finally, Mediolanum International Funds Ltd boosted its stake in shares of Eaton by 136.5% in the fourth quarter. Mediolanum International Funds Ltd now owns 71,901 shares of the industrial products company’s stock worth $23,840,000 after acquiring an additional 41,497 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eaton

In related news, insider Craig Arnold sold 103,486 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the sale, the insider now owns 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider now directly owns 3,382 shares of the company’s stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ETN has been the topic of a number of research analyst reports. KeyCorp lifted their price target on Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. BNP Paribas Exane began coverage on Eaton in a research note on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price target on the stock. Jefferies Financial Group reduced 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. Citigroup lifted their price objective on Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Finally, Royal Bank of Canada lifted their price objective on Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average target price of $367.83.

Eaton Price Performance

NYSE:ETN opened at $320.35 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 company has a market capitalization of $125.35 billion, a P/E ratio of 33.72, a P/E/G ratio of 2.64 and a beta of 1.14. The stock’s fifty day moving average is $293.29 and its two-hundred day moving average is $317.89.

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

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.30%. Eaton’s dividend payout ratio is presently 41.98%.

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.