Beese Fulmer Investment Management Inc. boosted its position in Eaton Co. PLC (NYSE:ETN) by 17.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,237 shares of the industrial products company’s stock after acquiring an additional 1,800 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Eaton were worth $1,018,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Eaton by 1.4% in the second quarter. Vanguard Group Inc. now owns 33,329,894 shares of the industrial products company’s stock valued at $2,775,713,000 after acquiring an additional 458,692 shares during the last quarter. BlackRock Inc. increased its stake in Eaton by 1.1% in the second quarter. BlackRock Inc. now owns 30,504,507 shares of the industrial products company’s stock valued at $2,540,415,000 after acquiring an additional 341,830 shares during the last quarter. Northern Trust Corp increased its stake in Eaton by 0.4% in the second quarter. Northern Trust Corp now owns 6,090,154 shares of the industrial products company’s stock valued at $507,188,000 after acquiring an additional 25,664 shares during the last quarter. Invesco Ltd. increased its stake in Eaton by 28.1% in the second quarter. Invesco Ltd. now owns 5,815,463 shares of the industrial products company’s stock valued at $484,312,000 after acquiring an additional 1,276,325 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Eaton by 8.7% in the second quarter. Wells Fargo & Company MN now owns 5,251,156 shares of the industrial products company’s stock valued at $437,315,000 after acquiring an additional 420,565 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have weighed in on the stock. Vertical Group cut shares of Eaton from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. KeyCorp boosted their target price on shares of Eaton from $93.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Robert W. Baird boosted their target price on shares of Eaton from $80.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada set a $84.00 target price on shares of Eaton and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Zacks Investment Research raised shares of Eaton from a “sell” rating to a “hold” rating and set a $94.00 target price on the stock in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. Eaton has an average rating of “Hold” and a consensus target price of $90.92.

NYSE ETN opened at $91.20 on Thursday. The firm’s fifty day moving average price is $83.45 and its two-hundred day moving average price is $81.23. The stock has a market cap of $36.63 billion, a PE ratio of 16.92, a PEG ratio of 1.77 and a beta of 1.42. Eaton Co. PLC has a fifty-two week low of $64.46 and a fifty-two week high of $91.65. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.10 and a current ratio of 1.72.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.01. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.51 billion. Eaton had a net margin of 11.06% and a return on equity of 15.15%. Eaton’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.43 earnings per share. As a group, sell-side analysts predict that Eaton Co. PLC will post 5.73 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.71 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.11%. Eaton’s dividend payout ratio (DPR) is presently 52.69%.

In other news, Director Deborah L. Mccoy sold 3,000 shares of Eaton stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $79.18, for a total transaction of $237,540.00. Following the transaction, the director now owns 29,936 shares in the company, valued at $2,370,332.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Richard H. Fearon sold 34,000 shares of Eaton stock in a transaction on Monday, November 4th. The stock was sold at an average price of $90.05, for a total transaction of $3,061,700.00. Following the transaction, the insider now owns 200,384 shares in the company, valued at approximately $18,044,579.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,000 shares of company stock worth $4,893,860. 0.70% of the stock is owned by company insiders.

Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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