Farmers & Merchants Investments Inc. Increases Position in Eaton Co. plc (NYSE:ETN)

Farmers & Merchants Investments Inc. boosted its position in Eaton Co. plc (NYSE:ETN) by 2.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,691 shares of the industrial products company’s stock after acquiring an additional 124 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Eaton were worth $1,471,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Congress Wealth Management LLC DE lifted its position in Eaton by 8.1% during the fourth quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock worth $18,479,000 after buying an additional 5,725 shares during the period. Norden Group LLC acquired a new stake in shares of Eaton in the first quarter worth approximately $2,176,000. Weiss Asset Management LP purchased a new stake in Eaton in the fourth quarter valued at approximately $1,001,000. Prospector Partners LLC increased its position in Eaton by 0.6% during the fourth quarter. Prospector Partners LLC now owns 71,307 shares of the industrial products company’s stock worth $17,172,000 after purchasing an additional 415 shares during the last quarter. Finally, Griffin Asset Management Inc. purchased a new position in Eaton during the first quarter worth approximately $813,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

Eaton stock opened at $284.93 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The firm’s fifty day moving average price is $302.48 and its 200 day moving average price is $310.93. The company has a market capitalization of $113.92 billion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 2.35 and a beta of 1.01. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19.

Eaton (NYSE:ETN) last announced its earnings results 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. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. On average, research analysts forecast that Eaton Co. plc will post 10.74 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is currently 44.39%.

Insider Transactions at Eaton

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the transaction, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the sale, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ETN has been the subject of a number of research analyst reports. Morgan Stanley assumed coverage on Eaton in a report on Friday. They set an “overweight” rating and a $370.00 price objective for the company. Raymond James initiated coverage on Eaton in a report on Friday, June 28th. They issued an “outperform” rating and a $375.00 price objective on the stock. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday. Wells Fargo & Company dropped their target price on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reduced their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $335.76.

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.