Fairview Capital Investment Management LLC Decreases Position in Eaton Co. plc (NYSE:ETN)

Fairview Capital Investment Management LLC reduced its stake in Eaton Co. plc (NYSE:ETN) by 10.6% during the 4th quarter, Holdings Channel reports. The fund owned 673 shares of the industrial products company’s stock after selling 80 shares during the quarter. Fairview Capital Investment Management LLC’s holdings in Eaton were worth $223,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of Eaton by 4.1% during the third quarter. Principal Financial Group Inc. now owns 457,350 shares of the industrial products company’s stock worth $151,584,000 after purchasing an additional 17,965 shares in the last quarter. Regent Peak Wealth Advisors LLC acquired a new position in shares of Eaton during the 4th quarter worth about $532,000. ORG Partners LLC increased its holdings in shares of Eaton by 90.7% in the 4th quarter. ORG Partners LLC now owns 946 shares of the industrial products company’s stock valued at $314,000 after acquiring an additional 450 shares during the last quarter. Franklin Street Advisors Inc. NC raised its position in shares of Eaton by 8.9% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 47,175 shares of the industrial products company’s stock worth $15,656,000 after acquiring an additional 3,843 shares in the last quarter. Finally, LVM Capital Management Ltd. MI lifted its stake in Eaton by 2.6% during the fourth quarter. LVM Capital Management Ltd. MI now owns 1,643 shares of the industrial products company’s stock worth $545,000 after purchasing an additional 41 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Morgan Stanley dropped their price target on shares of Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a research note on Tuesday. Royal Bank of Canada lifted their price target on shares of Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a research note on Monday, May 5th. Melius Research restated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Wells Fargo & Company reissued an “overweight” rating and issued a $355.00 target price on shares of Eaton in a report on Monday. Finally, Evercore ISI dropped their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $361.13.

Eaton Stock Up 1.0 %

Shares of NYSE:ETN opened at $310.01 on Friday. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two 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 firm’s 50-day simple moving average is $282.81 and its 200-day simple moving average is $320.30. The company has a market cap of $121.31 billion, a price-to-earnings ratio of 32.63, a PEG ratio of 2.64 and a beta of 1.14.

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

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a dividend of $1.04 per share. The ex-dividend date is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.34%. Eaton’s dividend payout ratio (DPR) is presently 41.98%.

Insider Activity

In other Eaton news, insider Michael Yelton sold 2,120 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the transaction, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Craig Arnold sold 51,054 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total value of $15,593,423.22. Following the sale, the insider now directly owns 489,444 shares in the company, valued at $149,490,880.92. This trade represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Eaton Company 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.