Fairscale Capital LLC Purchases New Holdings in Eaton Co. plc (NYSE:ETN)

Fairscale Capital LLC acquired a new position in shares of Eaton Co. plc (NYSE:ETN) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 243 shares of the industrial products company’s stock, valued at approximately $81,000.

A number of other hedge funds have also recently bought and sold shares of the company. Capital World Investors lifted its stake in shares of Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after acquiring an additional 2,439,270 shares during the period. Jennison Associates LLC lifted its position in Eaton by 2,857.4% during the 1st quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock valued at $394,752,000 after purchasing an additional 1,219,790 shares during the period. Balyasny Asset Management L.P. boosted its stake in shares of Eaton by 2,006.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company’s stock valued at $232,326,000 after purchasing an additional 918,936 shares during the last quarter. Swedbank AB acquired a new stake in shares of Eaton during the 2nd quarter worth approximately $225,974,000. Finally, Artisan Partners Limited Partnership raised its stake in shares of Eaton by 207.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 970,426 shares of the industrial products company’s stock worth $233,698,000 after buying an additional 654,855 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton 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 in the company, valued at approximately $2,858,328. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Karenann K. Terrell acquired 500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was bought at an average price of $298.97 per share, with a total value of $149,485.00. Following the acquisition, the director now owns 500 shares in the company, valued at approximately $149,485. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ETN. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Wells Fargo & Company reduced their price target on Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Royal Bank of Canada dropped their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Jefferies Financial Group raised their target price on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, Barclays upped their price target on Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $337.41.

Eaton Price Performance

Shares of NYSE ETN opened at $330.60 on Monday. The company has a fifty day moving average price of $299.93 and a 200 day moving average price of $312.71. The firm has a market cap of $132.17 billion, a PE ratio of 39.03, a PEG ratio of 2.28 and a beta of 1.01. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Research analysts predict that Eaton Co. plc will post 10.74 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s dividend payout ratio is presently 44.39%.

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.