Eaton Co. plc (NYSE:ETN) Shares Acquired by Beese Fulmer Investment Management Inc.

Beese Fulmer Investment Management Inc. grew its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 8.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,902 shares of the industrial products company's stock after acquiring an additional 3,294 shares during the period. Beese Fulmer Investment Management Inc.'s holdings in Eaton were worth $11,934,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Capital A Wealth Management LLC purchased a new position in shares of Eaton in the 4th quarter valued at $26,000. Flagship Wealth Advisors LLC purchased a new position in Eaton in the fourth quarter valued at about $27,000. Noble Wealth Management PBC bought a new position in Eaton in the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Eaton during the fourth quarter valued at about $33,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Eaton in the 4th quarter valued at about $33,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Evercore ISI increased their target price on shares of Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Citigroup upped their price objective on shares of Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a report on Monday, May 5th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $355.00 price objective on shares of Eaton in a research report on Monday, May 5th. Barclays dropped their target price on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a research report on Friday, April 4th. Finally, Royal Bank of Canada upped their target price on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $367.83.

Eaton Price Performance

NYSE ETN traded up $7.05 during trading hours on Tuesday, reaching $325.91. The company's stock had a trading volume of 1,978,834 shares, compared to its average volume of 2,664,720. The firm has a market capitalization of $127.53 billion, a price-to-earnings ratio of 34.31, a P/E/G ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The company's 50-day moving average is $293.96 and its two-hundred day moving average is $316.94. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN - Get Free Report) last announced 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. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter last year, the firm posted $2.40 EPS. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's payout ratio is presently 41.98%.

Insider Buying and Selling

In related news, insider Michael Yelton sold 2,120 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the transaction, the insider now owns 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is currently owned by insiders.

About Eaton

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.