Eaton Co. plc (NYSE:ETN) Holdings Cut by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC cut its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,209 shares of the industrial products company’s stock after selling 662 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Eaton were worth $12,995,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Breakwater Investment Management increased its position in Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after buying an additional 78 shares during the period. Proffitt & Goodson Inc. bought a new position in Eaton in the 2nd quarter worth about $29,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Eaton in the first quarter valued at approximately $33,000. LGT Financial Advisors LLC bought a new stake in shares of Eaton during the second quarter valued at approximately $33,000. Finally, West Financial Advisors LLC acquired a new position in shares of Eaton during the third quarter worth approximately $35,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other news, Director Dorothy C. Thompson acquired 2,205 shares of the stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the transaction, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s 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 completion of the sale, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dorothy C. Thompson acquired 2,205 shares of the company’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 purchase, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is owned by corporate insiders.

Eaton Price Performance

Shares of NYSE:ETN opened at $348.17 on Friday. 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 $139.20 billion, a PE ratio of 41.11, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. The stock has a fifty day moving average of $314.01 and a 200-day moving average of $316.67. Eaton Co. plc has a one year low of $191.82 and a one year high of $349.74.

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 business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, equities analysts anticipate that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. Eaton’s dividend payout ratio is currently 44.39%.

Wall Street Analyst Weigh In

Several research firms recently commented on ETN. Mizuho raised their target price on Eaton from $355.00 to $365.00 and gave the company an “outperform” rating in a research report on Thursday. Evercore ISI cut their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Raymond James dropped their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Finally, Barclays increased their price objective on shares of Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $340.06.

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.