Eaton Co. plc (NYSE:ETN) Shares Sold by Fairview Capital Investment Management LLC

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

A number of other institutional investors have also modified their holdings of the stock. Flagship Wealth Advisors LLC purchased a new stake in Eaton in the 4th quarter worth approximately $27,000. Noble Wealth Management PBC purchased a new stake in Eaton during the fourth quarter worth $30,000. Horizon Bancorp Inc. IN grew its position in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares during the period. Murphy & Mullick Capital Management Corp purchased a new position in Eaton in the fourth quarter valued at $33,000. Finally, Activest Wealth Management raised its position in shares of Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 87 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ETN shares. Melius Research restated a “hold” rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Barclays cut their price objective on Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a research report on Friday, April 4th. Jefferies Financial Group dropped their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. Finally, StockNews.com lowered shares of Eaton from a “buy” rating to a “hold” rating in a research report on Saturday. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $361.13.

Eaton Price Performance

Eaton stock opened at $310.01 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $282.81 and a 200 day moving average price of $320.30. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99. The stock has a market cap of $121.31 billion, a P/E ratio of 32.63, a PEG ratio of 2.64 and a beta of 1.14.

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

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Monday, May 5th. Eaton’s payout ratio is 41.98%.

Insider Activity at Eaton

In other Eaton news, insider Craig Arnold sold 51,054 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the transaction, the insider now directly owns 489,444 shares in the company, valued at $149,490,880.92. This represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider now directly owns 3,382 shares of the company’s stock, valued at $1,004,014.34. The trade was a 38.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

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.