Fidelis Capital Partners LLC Sells 269 Shares of Eaton Co. plc (NYSE:ETN)

Fidelis Capital Partners LLC trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,838 shares of the industrial products company’s stock after selling 269 shares during the period. Fidelis Capital Partners LLC’s holdings in Eaton were worth $2,458,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Norden Group LLC bought a new stake in shares of Eaton during the 1st quarter valued at $2,176,000. Weiss Asset Management LP acquired a new stake in shares of Eaton during the fourth quarter worth $1,001,000. Griffin Asset Management Inc. bought a new stake in Eaton in the first quarter valued at about $813,000. Stifel Financial Corp lifted its stake in Eaton by 1.3% in the fourth quarter. Stifel Financial Corp now owns 1,480,444 shares of the industrial products company’s stock valued at $356,535,000 after buying an additional 19,529 shares during the period. Finally, Focus Financial Network Inc. ADV bought a new position in Eaton during the fourth quarter worth about $554,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Eaton

In other news, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. The disclosure for this sale can be found here. Insiders have sold a total of 52,511 shares of company stock valued at $15,809,326 in the last ninety days. 0.53% of the stock is currently owned by company insiders.

Eaton Stock Performance

Shares of NYSE ETN opened at $330.60 on Friday. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The firm has a market cap of $132.17 billion, a price-to-earnings ratio of 39.03, a P/E/G ratio of 2.28 and a beta of 1.01. The stock’s fifty day moving average price is $299.93 and its two-hundred day moving average price is $312.60.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. On average, equities analysts forecast that Eaton Co. plc will post 10.74 EPS for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.14%. Eaton’s dividend payout ratio is 44.39%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ETN. Wells Fargo & Company decreased their price objective on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Raymond James decreased their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Morgan Stanley began coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective on the stock. Royal Bank of Canada decreased their target price on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Jefferies Financial Group increased their price target on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $337.41.

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.