FSA Advisors Inc. Invests $234,000 in Eaton Corporation, PLC (NYSE:ETN)

FSA Advisors Inc. acquired a new stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 859 shares of the industrial products company's stock, valued at approximately $234,000.

A number of other institutional investors have also recently made changes to their positions in ETN. Brighton Jones LLC grew its holdings in Eaton by 1.4% during the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock worth $1,109,000 after acquiring an additional 45 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Eaton by 17.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock worth $303,000 after buying an additional 136 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in shares of Eaton during the 4th quarter worth approximately $42,839,000. CIBC Private Wealth Group LLC lifted its position in shares of Eaton by 19.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 32,716 shares of the industrial products company's stock worth $11,291,000 after buying an additional 5,314 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its position in shares of Eaton by 210.8% during the 4th quarter. Meeder Asset Management Inc. now owns 202 shares of the industrial products company's stock worth $67,000 after buying an additional 137 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on ETN shares. The Goldman Sachs Group boosted their price objective on shares of Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. BNP Paribas began coverage on shares of Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective for the company. Wall Street Zen downgraded shares of Eaton from a "buy" rating to a "hold" rating in a research report on Saturday. Wells Fargo & Company upped their price target on shares of Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $396.00 price target on shares of Eaton in a research report on Monday, July 14th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $377.89.

Eaton Price Performance

Shares of NYSE:ETN traded down $3.20 on Friday, reaching $381.52. 2,416,764 shares of the company were exchanged, compared to its average volume of 2,049,141. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $399.56. The firm has a market cap of $149.29 billion, a price-to-earnings ratio of 38.50, a price-to-earnings-growth ratio of 2.90 and a beta of 1.18. The company has a 50-day moving average of $350.92 and a 200-day moving average of $317.79.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The business had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the prior year, the company posted $2.40 EPS. The business's revenue for the quarter was up 7.3% on a year-over-year basis. Equities analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, August 7th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 7th. Eaton's dividend payout ratio is presently 41.98%.

Insider Transactions at Eaton

In related news, insider Craig Arnold sold 103,486 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the sale, the insider directly owned 490,208 shares of the company's stock, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider directly owned 3,382 shares in the company, valued at approximately $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. Over the last three months, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is owned by corporate insiders.

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.