Beese Fulmer Investment Management Inc. Has $13.25 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Beese Fulmer Investment Management Inc. increased its stake in Eaton Co. plc (NYSE:ETN) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,961 shares of the industrial products company’s stock after buying an additional 2,018 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Eaton were worth $13,245,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ETN. Norden Group LLC bought a new position in shares of Eaton in the 1st quarter valued at about $2,176,000. Griffin Asset Management Inc. acquired a new position in Eaton during the first quarter worth approximately $813,000. IAM Advisory LLC bought a new stake in Eaton in the second quarter valued at approximately $599,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of Eaton by 19.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock valued at $24,616,000 after buying an additional 12,689 shares during the last quarter. Finally, Interval Partners LP boosted its stake in shares of Eaton by 82.7% during the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after acquiring an additional 68,693 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the company’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 completion of the sale, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dorothy C. Thompson bought 2,205 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 52,511 shares of company stock worth $15,809,326. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ETN shares. Wells Fargo & Company increased their price target on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Morgan Stanley initiated coverage on shares of Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 target price for the company. Raymond James decreased their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Royal Bank of Canada cut their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Jefferies Financial Group upped their target price on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average price target of $340.06.

Eaton Stock Up 0.4 %

Shares of NYSE ETN opened at $345.00 on Thursday. Eaton Co. plc has a 52 week low of $193.77 and a 52 week high of $349.74. The stock’s fifty day moving average is $317.08 and its 200 day moving average is $317.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The stock has a market capitalization of $137.93 billion, a P/E ratio of 40.73, a PEG ratio of 2.58 and a beta of 1.02.

Eaton (NYSE:ETN) last released its earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Sell-side analysts forecast that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio is presently 44.39%.

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.