DB Fitzpatrick & Co Inc Purchases New Holdings in Eaton Corporation, PLC (NYSE:ETN)

DB Fitzpatrick & Co Inc purchased a new stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,367 shares of the industrial products company's stock, valued at approximately $915,000.

Several other institutional investors have also made changes to their positions in the stock. Institute for Wealth Management LLC. boosted its stake in shares of Eaton by 4.9% in the first quarter. Institute for Wealth Management LLC. now owns 7,400 shares of the industrial products company's stock valued at $2,011,000 after buying an additional 348 shares during the period. Centennial Wealth Advisory LLC boosted its stake in shares of Eaton by 6.2% in the first quarter. Centennial Wealth Advisory LLC now owns 1,011 shares of the industrial products company's stock valued at $275,000 after buying an additional 59 shares during the period. Bigelow Investment Advisors LLC boosted its stake in shares of Eaton by 11.0% in the first quarter. Bigelow Investment Advisors LLC now owns 3,037 shares of the industrial products company's stock valued at $826,000 after buying an additional 302 shares during the period. Johnson Investment Counsel Inc. raised its position in Eaton by 10.5% during the first quarter. Johnson Investment Counsel Inc. now owns 7,934 shares of the industrial products company's stock valued at $2,157,000 after purchasing an additional 755 shares in the last quarter. Finally, Community Bank N.A. raised its position in Eaton by 4.9% during the first quarter. Community Bank N.A. now owns 1,605 shares of the industrial products company's stock valued at $436,000 after purchasing an additional 75 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. KeyCorp boosted their price objective on shares of Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Wells Fargo & Company restated an "overweight" rating and set a $355.00 price objective on shares of Eaton in a research report on Monday, May 5th. Royal Bank Of Canada boosted their price objective on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a research report on Sunday, May 18th. Finally, BNP Paribas Exane started 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. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and an average target price of $368.78.

Eaton Stock Performance

NYSE ETN opened at $333.92 on Thursday. The company has a market capitalization of $130.66 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 2.56 and a beta of 1.16. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $379.99. The stock has a fifty day simple moving average of $308.45 and a 200 day simple moving average of $314.22. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41.

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

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a dividend of $1.04 per share. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.25%. Eaton's dividend payout ratio (DPR) is currently 41.98%.

Insider Buying and Selling at Eaton

In other news, 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 transaction, the insider now owns 3,382 shares of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Craig Arnold sold 51,054 shares of the stock in a transaction dated 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 trade represents a 9.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is currently owned by 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.

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