Bartlett & CO. Wealth Management LLC Has $75.82 Million Stock Holdings in Eaton Corporation, PLC $ETN

Bartlett & CO. Wealth Management LLC raised its holdings in shares of Eaton Corporation, PLC (NYSE:ETN) by 9.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,030 shares of the industrial products company’s stock after purchasing an additional 19,958 shares during the quarter. Eaton makes up 1.0% of Bartlett & CO. Wealth Management LLC’s holdings, making the stock its 27th biggest position. Bartlett & CO. Wealth Management LLC owned about 0.06% of Eaton worth $75,815,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ETN. SG Americas Securities LLC lifted its holdings in shares of Eaton by 438.9% during the fourth quarter. SG Americas Securities LLC now owns 364,877 shares of the industrial products company’s stock worth $116,217,000 after buying an additional 297,166 shares in the last quarter. Fayez Sarofim & Co lifted its holdings in shares of Eaton by 3.4% during the third quarter. Fayez Sarofim & Co now owns 1,256,177 shares of the industrial products company’s stock worth $474,444,000 after buying an additional 40,792 shares in the last quarter. Williams Jones Wealth Management LLC. lifted its holdings in shares of Eaton by 3.3% during the third quarter. Williams Jones Wealth Management LLC. now owns 515,587 shares of the industrial products company’s stock worth $192,958,000 after buying an additional 16,422 shares in the last quarter. Mediolanum International Funds Ltd lifted its holdings in shares of Eaton by 14.2% during the third quarter. Mediolanum International Funds Ltd now owns 121,162 shares of the industrial products company’s stock worth $44,485,000 after buying an additional 15,048 shares in the last quarter. Finally, Allstate Corp lifted its holdings in shares of Eaton by 1,694.0% during the third quarter. Allstate Corp now owns 14,137 shares of the industrial products company’s stock worth $5,291,000 after buying an additional 13,349 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Up 0.7%

Shares of NYSE ETN opened at $403.11 on Friday. The company has a 50 day simple moving average of $368.41 and a 200 day simple moving average of $356.49. The firm has a market cap of $156.40 billion, a PE ratio of 38.54, a price-to-earnings-growth ratio of 2.76 and a beta of 1.17. Eaton Corporation, PLC has a 1 year low of $255.10 and a 1 year high of $408.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.32 and a quick ratio of 0.81.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, February 26th. The industrial products company reported $3.23 earnings per share (EPS) for the quarter. The business had revenue of $7.06 billion during the quarter. Eaton had a net margin of 14.89% and a return on equity of 25.00%. On average, research analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Tuesday, March 10th were paid a $1.10 dividend. This is an increase from Eaton’s previous quarterly dividend of $1.04. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, March 10th. Eaton’s payout ratio is presently 42.07%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ETN shares. Citigroup dropped their target price on Eaton from $442.00 to $435.00 and set a “buy” rating for the company in a report on Monday, January 12th. Barclays dropped their target price on Eaton from $354.00 to $340.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. Weiss Ratings restated a “buy (b-)” rating on shares of Eaton in a research report on Wednesday, January 21st. HSBC upgraded Eaton from a “hold” rating to a “buy” rating and set a $400.00 price target on the stock in a research report on Friday, January 16th. Finally, UBS Group restated a “neutral” rating and issued a $360.00 price target (down from $440.00) on shares of Eaton in a research report on Sunday, January 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $395.05.

Insider Activity at Eaton

In related news, insider Sternadt Paulo Ruiz sold 10,707 shares of Eaton stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $390.26, for a total value of $4,178,513.82. Following the transaction, the insider directly owned 27,729 shares of the company’s stock, valued at $10,821,519.54. The trade was a 27.86% 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. 0.10% of the stock is currently owned by corporate insiders.

About Eaton

Eaton (NYSE: ETN) is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company’s offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.