Ferguson Wellman Capital Management Inc. Has $51.05 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Ferguson Wellman Capital Management Inc. lowered its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 154,024 shares of the industrial products company’s stock after selling 2,452 shares during the period. Eaton makes up about 1.0% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 28th biggest position. Ferguson Wellman Capital Management Inc.’s holdings in Eaton were worth $51,050,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ETN. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Eaton by 16.5% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 27,561 shares of the industrial products company’s stock worth $8,618,000 after acquiring an additional 3,913 shares in the last quarter. Kingsview Wealth Management LLC boosted its position in shares of Eaton by 4.8% during the 1st quarter. Kingsview Wealth Management LLC now owns 20,579 shares of the industrial products company’s stock worth $6,435,000 after purchasing an additional 947 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Eaton by 2.7% in the 1st quarter. Orion Portfolio Solutions LLC now owns 31,811 shares of the industrial products company’s stock valued at $9,947,000 after buying an additional 825 shares during the period. Leo Wealth LLC raised its stake in Eaton by 84.2% during the 1st quarter. Leo Wealth LLC now owns 2,468 shares of the industrial products company’s stock worth $771,000 after buying an additional 1,128 shares during the period. Finally, Gratus Wealth Advisors LLC bought a new position in Eaton in the first quarter worth approximately $255,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Performance

ETN traded down $1.93 during midday trading on Thursday, reaching $367.73. The company had a trading volume of 59,580 shares, compared to its average volume of 2,104,276. Eaton Co. plc has a 12-month low of $224.52 and a 12-month high of $373.49. The business has a 50-day moving average price of $332.81 and a two-hundred day moving average price of $320.84. The stock has a market cap of $145.33 billion, a PE ratio of 39.35, a P/E/G ratio of 2.96 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.47 earnings per share. On average, sell-side analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.02%. Eaton’s dividend payout ratio is currently 40.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ETN. Wells Fargo & Company upped their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and upped their price objective for the stock from $333.00 to $389.00 in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $374.00 price objective on shares of Eaton in a report on Friday, November 1st. Mizuho upped their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Morgan Stanley assumed coverage on Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $357.83.

Insider Buying and Selling

In other news, Director Karenann K. Terrell purchased 500 shares of Eaton stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the transaction, the director now directly owns 500 shares of the company’s stock, valued at approximately $149,485. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Eaton news, Director Karenann K. Terrell purchased 500 shares of Eaton stock in a transaction on Wednesday, August 21st. The shares were acquired at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the transaction, the director now directly owns 500 shares of the company’s stock, valued at approximately $149,485. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,705 shares of company stock valued at $24,516,346. Corporate insiders own 0.53% of the company’s stock.

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.