Eaton Co. plc (NYSE:ETN) Shares Purchased by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC lifted its holdings in Eaton Co. plc (NYSE:ETN) by 47.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,756 shares of the industrial products company’s stock after acquiring an additional 2,479 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Eaton were worth $1,868,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ETN. FMR LLC grew its position in Eaton by 36.0% during the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after buying an additional 5,270,331 shares during the period. Norges Bank acquired a new stake in Eaton during the fourth quarter valued at $798,119,000. Moneta Group Investment Advisors LLC grew its position in Eaton by 122,471.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,619,350 shares of the industrial products company’s stock valued at $411,107,000 after buying an additional 2,617,213 shares during the period. Morgan Stanley grew its position in Eaton by 26.2% during the fourth quarter. Morgan Stanley now owns 12,542,343 shares of the industrial products company’s stock valued at $1,968,521,000 after buying an additional 2,602,246 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Eaton during the third quarter valued at $340,500,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the transaction, the insider now owns 29,712 shares in the company, valued at $8,116,427.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the transaction, the insider now owns 69,472 shares in the company, valued at $20,244,140.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the completion of the transaction, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. Insiders sold a total of 38,969 shares of company stock worth $10,904,774 over the last three months. Insiders own 0.53% of the company’s stock.

Eaton Trading Down 0.4 %

Shares of ETN traded down $1.24 during trading on Thursday, reaching $308.94. 1,859,589 shares of the company traded hands, compared to its average volume of 1,892,845. Eaton Co. plc has a twelve month low of $161.12 and a twelve month high of $331.47. The stock has a market cap of $123.42 billion, a PE ratio of 38.52, a price-to-earnings-growth ratio of 2.61 and a beta of 1.07. The stock has a 50-day simple moving average of $299.48 and a 200-day simple moving average of $253.53. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The business had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period last year, the business earned $2.06 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts anticipate that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were given a dividend of $0.94 per share. The ex-dividend date was Friday, March 8th. This is a boost from Eaton’s previous quarterly dividend of $0.86. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.22%. Eaton’s dividend payout ratio (DPR) is currently 46.88%.

Wall Street Analysts Forecast Growth

ETN has been the topic of several analyst reports. Evercore ISI raised their price target on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Mizuho increased their price objective on shares of Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $286.00 to $371.00 in a report on Friday, April 5th. Bank of America increased their price objective on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $295.60.

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.