651 Shares in Eaton Co. plc (NYSE:ETN) Bought by FSM Wealth Advisors LLC

FSM Wealth Advisors LLC bought a new stake in Eaton Co. plc (NYSE:ETN) during the third quarter, HoldingsChannel reports. The fund bought 651 shares of the industrial products company’s stock, valued at approximately $216,000.

A number of other institutional investors have also added to or reduced their stakes in ETN. Geneos Wealth Management Inc. increased its stake in Eaton by 10.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,862 shares of the industrial products company’s stock valued at $582,000 after acquiring an additional 172 shares during the last quarter. W.H. Cornerstone Investments Inc. bought a new position in Eaton in the first quarter valued at $349,000. Manchester Capital Management LLC increased its stake in Eaton by 2.3% in the first quarter. Manchester Capital Management LLC now owns 2,937 shares of the industrial products company’s stock valued at $918,000 after acquiring an additional 66 shares during the last quarter. VitalStone Financial LLC bought a new position in Eaton in the first quarter valued at $354,000. Finally, Envestnet Portfolio Solutions Inc. increased its stake in Eaton by 19.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock valued at $24,616,000 after acquiring an additional 12,689 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ETN. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Evercore ISI reduced their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Morgan Stanley began coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective on the stock. Wells Fargo & Company raised their price objective on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Raymond James reduced 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. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $343.28.

Insider Transactions at Eaton

In related news, Director Dorothy C. Thompson purchased 2,205 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Dorothy C. Thompson acquired 2,205 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The disclosure for this purchase can be found here. Insiders have sold a total of 56,511 shares of company stock valued at $17,150,526 in the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Eaton Stock Up 2.0 %

ETN stock opened at $337.59 on Wednesday. Eaton Co. plc has a fifty-two week low of $211.99 and a fifty-two week high of $349.74. The business’s 50 day moving average price is $324.60 and its two-hundred day moving average price is $318.76. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The company has a market capitalization 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.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the business earned $2.47 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, analysts forecast that Eaton Co. plc will post 10.78 earnings per share for the current fiscal year.

Eaton Dividend Announcement

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

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.