Birchcreek Wealth Management LLC Acquires Shares of 1,748 Eaton Co. plc (NYSE:ETN)

Birchcreek Wealth Management LLC purchased a new position in shares of Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,748 shares of the industrial products company’s stock, valued at approximately $580,000.

Other institutional investors also recently modified their holdings of the company. Groupama Asset Managment raised its holdings in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN raised its holdings in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after buying an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton during the 3rd quarter worth $33,000. Activest Wealth Management raised its holdings in shares of Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after buying an additional 87 shares in the last quarter. Finally, Hager Investment Management Services LLC acquired a new position in Eaton in the 4th quarter worth about $38,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Down 3.8 %

Shares of Eaton stock opened at $297.11 on Monday. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The stock’s 50-day moving average is $331.97 and its 200 day moving average is $332.81. The firm has a market cap of $117.42 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 2.64 and a beta of 1.05.

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 22.62% and a net margin of 15.25%. During the same quarter last year, the business posted $2.55 EPS. Equities research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Insider Activity at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the firm’s 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 completion of the sale, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ETN. JPMorgan Chase & Co. lowered their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Mizuho upped their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Evercore ISI lowered their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. UBS Group began coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Finally, Citigroup lowered their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average target price of $366.05.

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.