Fidelis Capital Partners LLC Grows Position in Eaton Corporation, PLC (NYSE:ETN)

Fidelis Capital Partners LLC lifted its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 20.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,943 shares of the industrial products company's stock after purchasing an additional 1,667 shares during the period. Fidelis Capital Partners LLC's holdings in Eaton were worth $2,872,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Eaton by 1.4% in the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock valued at $1,109,000 after buying an additional 45 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in Eaton by 17.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock valued at $303,000 after buying an additional 136 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in Eaton in the 4th quarter valued at about $42,839,000. Proficio Capital Partners LLC boosted its holdings in shares of Eaton by 27.6% in the 4th quarter. Proficio Capital Partners LLC now owns 2,207 shares of the industrial products company's stock worth $732,000 after buying an additional 478 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Eaton by 4.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 49,693 shares of the industrial products company's stock worth $16,491,000 after buying an additional 1,930 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ETN. Citigroup boosted their price target on shares of Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Wall Street Zen raised shares of Eaton from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. BNP Paribas began coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target on the stock. KeyCorp boosted their price target on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, BNP Paribas Exane assumed coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target on the stock. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has a consensus rating of "Moderate Buy" and an average price target of $370.63.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 103,486 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the transaction, the insider directly owned 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 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 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 transaction, the insider owned 3,382 shares in the company, valued at $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. Insiders have sold 156,660 shares of company stock worth $49,622,894 over the last quarter. Company insiders own 0.30% of the company's stock.

Eaton Price Performance

Shares of ETN stock traded up $3.03 during trading on Friday, hitting $360.67. The company had a trading volume of 1,697,991 shares, compared to its average volume of 2,669,932. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. The stock's 50-day moving average is $332.74 and its two-hundred day moving average is $313.67. The stock has a market capitalization of $141.13 billion, a price-to-earnings ratio of 36.39, a price-to-earnings-growth ratio of 2.70 and a beta of 1.17. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $379.99.

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, topping the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. Eaton's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.40 earnings per share. As a group, analysts predict that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm 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. This represents a $4.16 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Monday, May 5th. Eaton's payout ratio is currently 41.98%.

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.