BNC Wealth Management LLC Takes $5.96 Million Position in Eaton Co. plc (NYSE:ETN)

BNC Wealth Management LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 17,959 shares of the industrial products company’s stock, valued at approximately $5,960,000. Eaton makes up about 2.0% of BNC Wealth Management LLC’s portfolio, making the stock its 12th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Groupama Asset Managment lifted its position in 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 grew its position 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 purchasing 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 approximately $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton during the 3rd quarter worth approximately $35,000. Finally, DT Investment Partners LLC acquired a new position in shares of Eaton during the 3rd quarter worth approximately $37,000. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

ETN stock opened at $346.54 on Friday. The company has a fifty day moving average price of $354.32 and a 200-day moving average price of $329.77. The company has a market capitalization of $136.95 billion, a P/E ratio of 36.87, a PEG ratio of 2.27 and a beta of 1.06. Eaton Co. plc has a 52-week low of $236.20 and a 52-week high of $379.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the prior year, the company posted $2.47 earnings per share. Eaton’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities analysts expect that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of analyst reports. Barclays increased their target price on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Citigroup cut their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Jefferies Financial Group upped their price target on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Royal Bank of Canada upped their price target on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Sanford C. Bernstein initiated coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $368.89.

Insider Transactions at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock worth $27,660,117 over the last three months. 0.33% of the stock is owned by company insiders.

Eaton Company Profile

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.