BTR Capital Management Inc. Invests $3.07 Million in Eaton Co. plc (NYSE:ETN)

BTR Capital Management Inc. bought a new position in shares of Eaton Co. plc (NYSE:ETNGet Rating) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 24,378 shares of the industrial products company’s stock, valued at approximately $3,071,000.

Several other institutional investors and hedge funds have also made changes to their positions in ETN. Financial Management Professionals Inc. raised its holdings in shares of Eaton by 288.6% in the first quarter. Financial Management Professionals Inc. now owns 171 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 127 shares in the last quarter. Hazlett Burt & Watson Inc. bought a new stake in shares of Eaton in the first quarter valued at about $30,000. Steward Financial Group LLC bought a new stake in shares of Eaton in the first quarter valued at about $32,000. Baldwin Brothers LLC MA raised its holdings in shares of Eaton by 63.0% in the first quarter. Baldwin Brothers LLC MA now owns 220 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 85 shares in the last quarter. Finally, Princeton Global Asset Management LLC raised its holdings in Eaton by 588.6% in the first quarter. Princeton Global Asset Management LLC now owns 241 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 206 shares in the last quarter. 80.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eaton

In other news, Director Deborah L. Mccoy sold 3,000 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $148.72, for a total transaction of $446,160.00. Following the completion of the transaction, the director now directly owns 12,856 shares in the company, valued at approximately $1,911,944.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Deborah L. Mccoy sold 3,000 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $148.72, for a total transaction of $446,160.00. Following the completion of the transaction, the director now directly owns 12,856 shares in the company, valued at approximately $1,911,944.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel Roy Hopgood sold 1,500 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $151.70, for a total value of $227,550.00. Following the transaction, the insider now owns 7,593 shares of the company’s stock, valued at $1,151,858.10. The disclosure for this sale can be found here. 0.56% of the stock is owned by company insiders.

Analyst Ratings Changes

ETN has been the subject of a number of recent research reports. Royal Bank of Canada boosted their target price on shares of Eaton from $139.00 to $145.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 3rd. Morgan Stanley boosted their target price on shares of Eaton from $170.00 to $176.00 and gave the stock an “overweight” rating in a report on Wednesday, August 3rd. Barclays boosted their target price on shares of Eaton from $112.00 to $124.00 and gave the stock an “underweight” rating in a report on Wednesday, August 3rd. StockNews.com upgraded shares of Eaton from a “hold” rating to a “buy” rating in a report on Friday, July 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Eaton from $178.00 to $156.00 and set a “buy” rating on the stock in a research note on Wednesday, July 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average target price of $160.15.

Eaton Stock Down 2.0 %

NYSE ETN opened at $138.27 on Monday. The business has a fifty day moving average price of $142.00 and a 200 day moving average price of $141.81. Eaton Co. plc has a one year low of $122.50 and a one year high of $175.72. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.58 and a current ratio of 0.97. The company has a market cap of $55.07 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.66 and a beta of 1.20.

Eaton (NYSE:ETNGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.82 by $0.05. The firm had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.22 billion. Eaton had a return on equity of 17.04% and a net margin of 11.70%. The firm’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.72 EPS. Research analysts anticipate that Eaton Co. plc will post 7.55 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, August 11th. Eaton’s payout ratio is currently 56.15%.

Eaton Profile

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for Eaton (NYSE:ETN)

Receive News & Ratings for Eaton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton and related companies with MarketBeat.com's FREE daily email newsletter.