BTC Capital Management Inc. Buys 1,256 Shares of Eaton Co. plc (NYSE:ETN)

BTC Capital Management Inc. boosted its stake in shares of Eaton Co. plc (NYSE:ETN) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,142 shares of the industrial products company’s stock after purchasing an additional 1,256 shares during the quarter. BTC Capital Management Inc.’s holdings in Eaton were worth $8,668,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETN. Wetzel Investment Advisors Inc. boosted its position in shares of Eaton by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after acquiring an additional 28 shares during the period. Strategic Wealth Partners Ltd. boosted its position in shares of Eaton by 3.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after acquiring an additional 30 shares during the period. Fairfield Financial Advisors LTD boosted its position in shares of Eaton by 16.2% in the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 30 shares during the period. Westmount Partners LLC boosted its position in shares of Eaton by 3.1% in the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 30 shares during the period. Finally, Signal Advisors Wealth LLC boosted its position in shares of Eaton by 3.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after acquiring an additional 30 shares during the period. 82.97% of the stock is owned by institutional investors.

Eaton Stock Performance

NYSE:ETN opened at $327.08 on Friday. The stock’s 50-day moving average is $350.25 and its 200-day moving average is $331.09. Eaton Co. plc has a 1-year low of $245.65 and a 1-year high of $379.99. The stock has a market cap of $129.26 billion, a P/E ratio of 34.80, a price-to-earnings-growth ratio of 2.21 and a beta of 1.06. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Equities research analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current year.

Insider Activity at Eaton

In other Eaton news, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the transaction, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the transaction, the director now owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,981 shares of company stock worth $26,318,917 over the last ninety days. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ETN. Wells Fargo & Company reduced their target price on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Citigroup dropped their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Jefferies Financial Group boosted their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Bank of America boosted their price target on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Barclays boosted their price target on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus target price of $369.30.

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.