Beese Fulmer Investment Management Inc. Acquires 2,018 Shares of Eaton Co. plc (NYSE:ETN)

Beese Fulmer Investment Management Inc. raised its holdings in Eaton Co. plc (NYSE:ETN) by 5.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 39,961 shares of the industrial products company’s stock after acquiring an additional 2,018 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Eaton were worth $13,245,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ETN. Sound Income Strategies LLC increased its stake in shares of Eaton by 29.4% in the first quarter. Sound Income Strategies LLC now owns 506 shares of the industrial products company’s stock valued at $158,000 after buying an additional 115 shares during the period. Sunbelt Securities Inc. increased its position in Eaton by 6.5% during the 1st quarter. Sunbelt Securities Inc. now owns 2,215 shares of the industrial products company’s stock valued at $693,000 after purchasing an additional 135 shares during the period. Brookstone Capital Management raised its holdings in Eaton by 15.5% during the 1st quarter. Brookstone Capital Management now owns 1,375 shares of the industrial products company’s stock worth $430,000 after purchasing an additional 185 shares during the last quarter. Sovereign Financial Group Inc. acquired a new position in shares of Eaton in the 1st quarter worth approximately $263,000. Finally, Aspiriant LLC boosted its stake in shares of Eaton by 19.7% in the 1st quarter. Aspiriant LLC now owns 1,294 shares of the industrial products company’s stock valued at $405,000 after purchasing an additional 213 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Up 0.4 %

ETN stock opened at $345.00 on Thursday. The firm has a market capitalization of $137.93 billion, a PE ratio of 40.73, a P/E/G ratio of 2.58 and a beta of 1.02. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. Eaton Co. plc has a twelve month low of $193.77 and a twelve month high of $349.74. The stock’s 50 day moving average is $317.08 and its 200-day moving average is $317.12.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Sell-side analysts expect that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.09%. Eaton’s dividend payout ratio (DPR) is 44.39%.

Insiders Place Their Bets

In related news, insider Michael Yelton sold 3,136 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Michael Yelton sold 3,136 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the transaction, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,511 shares of company stock valued at $15,809,326 in the last 90 days. 0.53% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ETN shares. Wells Fargo & Company lifted their target price on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Raymond James dropped their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Mizuho raised their target price on Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Evercore ISI dropped their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Finally, Citigroup assumed coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $340.06.

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.