FSM Wealth Advisors LLC Takes $216,000 Position in Eaton Co. plc (NYSE:ETN)

FSM Wealth Advisors LLC purchased a new stake in Eaton Co. plc (NYSE:ETN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 651 shares of the industrial products company’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ETN. Breakwater Investment Management grew its position in Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 78 shares during the last quarter. Proffitt & Goodson Inc. bought a new stake in Eaton during the 2nd quarter worth $29,000. LGT Financial Advisors LLC bought a new stake in Eaton during the 2nd quarter worth $33,000. West Financial Advisors LLC bought a new stake in Eaton during the 3rd quarter worth $35,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in Eaton during the 2nd quarter worth $37,000. Institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of NYSE ETN opened at $337.59 on Wednesday. The stock has a fifty day simple moving average of $324.60 and a two-hundred day simple moving average of $318.76. Eaton Co. plc has a 1-year low of $211.99 and a 1-year high of $349.74. The firm has a market cap of $133.42 billion, a price-to-earnings ratio of 35.91, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the prior year, the company earned $2.47 earnings per share. Eaton’s revenue was up 7.9% compared to the same quarter last year. Analysts anticipate that Eaton Co. plc will post 10.78 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.11%. Eaton’s dividend payout ratio is currently 40.00%.

Insiders Place Their Bets

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now owns 51,422 shares in the company, valued at $17,241,796.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Eaton news, Director Dorothy C. Thompson acquired 2,205 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares in the company, valued at $17,241,796.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,511 shares of company stock worth $17,150,526 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ETN. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Raymond James cut their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Citigroup initiated coverage on Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective on the stock. Barclays dropped their price objective on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Finally, Mizuho upped their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $343.28.

About Eaton

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.