Fairfield Financial Advisors LTD Invests $58,000 in Eaton Co. plc (NYSE:ETN)

Fairfield Financial Advisors LTD bought a new stake in shares of Eaton Co. plc (NYSE:ETN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 185 shares of the industrial products company’s stock, valued at approximately $58,000.

Other large investors also recently added to or reduced their stakes in the company. LifeSteps Financial Inc. bought a new stake in shares of Eaton during the first quarter valued at approximately $25,000. Breakwater Investment Management grew its stake in Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 78 shares in the last quarter. Atwood & Palmer Inc. increased its holdings in Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 50 shares during the last quarter. Clear Investment Research LLC purchased a new stake in Eaton in the 4th quarter worth $29,000. Finally, Proffitt & Goodson Inc. bought a new position in shares of Eaton during the 2nd quarter valued at about $29,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ETN shares. Evercore ISI reduced their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Barclays upped their price objective on Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Wells Fargo & Company cut their target price 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. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Jefferies Financial Group boosted their target price on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $335.18.

Insider Activity

In other 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 transaction of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the sale, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction that occurred 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 transaction, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is currently owned by corporate insiders.

Eaton Stock Performance

Eaton stock opened at $305.80 on Monday. 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 company has a market capitalization of $122.26 billion, a PE ratio of 36.10, a P/E/G ratio of 2.28 and a beta of 1.01. The company has a 50 day moving average price of $300.56 and a 200-day moving average price of $311.83. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19.

Eaton (NYSE:ETN) last issued its 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. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. As a group, equities analysts forecast that Eaton Co. plc will post 10.74 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is 44.39%.

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.