Birchcreek Wealth Management LLC Invests $580,000 in Eaton Co. plc (NYSE:ETN)

Birchcreek Wealth Management LLC purchased a new position in shares of Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,748 shares of the industrial products company’s stock, valued at approximately $580,000.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its position in Eaton by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after buying an additional 56,516 shares during the last quarter. Franklin Resources Inc. raised its position in Eaton by 15.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after buying an additional 316,830 shares during the last quarter. Janus Henderson Group PLC raised its position in Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after buying an additional 597,700 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Eaton by 253.2% in 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 buying an additional 1,629,856 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Eaton by 1.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,436,051 shares of the industrial products company’s stock valued at $476,582,000 after buying an additional 13,862 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the subject of a number of analyst reports. Bank of America raised 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. UBS Group initiated coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Evercore ISI decreased their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating on shares of Eaton in a research note on Thursday, February 13th. Finally, Mizuho raised their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $366.05.

Eaton Stock Performance

ETN opened at $297.11 on Monday. The business has a fifty day simple moving average of $331.97 and a 200 day simple moving average of $332.81. The company has a market capitalization of $117.42 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a 1 year low of $255.65 and a 1 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.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (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 period in the prior year, the firm posted $2.55 earnings per share. Research analysts expect 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 Eaton stock in a transaction 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 transaction, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by corporate insiders.

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.