Bartlett & CO. Wealth Management LLC Sells 909 Shares of Eaton Co. plc (NYSE:ETN)

Bartlett & CO. Wealth Management LLC cut its position in shares of Eaton Co. plc (NYSE:ETN) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,300 shares of the industrial products company’s stock after selling 909 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Eaton were worth $12,711,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Eaton by 253.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after acquiring an additional 1,629,856 shares during the period. International Assets Investment Management LLC increased its stake in shares of Eaton by 27,075.5% during the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after purchasing an additional 1,070,024 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after purchasing an additional 597,700 shares during the last quarter. Electron Capital Partners LLC increased its position in Eaton by 8,348.9% during the 2nd quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company’s stock valued at $140,008,000 after buying an additional 441,239 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in Eaton during the third quarter valued at $137,794,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,981 shares of company stock valued at $27,660,117 in the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Performance

ETN opened at $371.36 on Thursday. Eaton Co. plc has a 12-month low of $239.17 and a 12-month high of $379.99. The company has a market cap of $146.76 billion, a price-to-earnings ratio of 39.51, a PEG ratio of 2.48 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. The company’s 50 day moving average is $353.58 and its 200 day moving average is $330.45.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. The firm 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% on a year-over-year basis. During the same period in the prior year, the business posted $2.47 EPS. On average, equities research analysts predict that Eaton Co. plc will post 10.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ETN shares. Jefferies Financial Group raised their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Mizuho raised their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Royal Bank of Canada upped their target price on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. UBS Group initiated coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target for the company. Finally, JPMorgan Chase & Co. cut their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $368.89.

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.