Western Wealth Management LLC Sells 46 Shares of Eaton Co. plc (NYSE:ETN)

Western Wealth Management LLC lessened its stake in Eaton Co. plc (NYSE:ETN) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,586 shares of the industrial products company’s stock after selling 46 shares during the period. Western Wealth Management LLC’s holdings in Eaton were worth $2,309,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Ritholtz Wealth Management increased its holdings in Eaton by 5.1% during the fourth quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock valued at $1,379,000 after buying an additional 277 shares during the last quarter. BCS Wealth Management purchased a new stake in Eaton in the third quarter worth about $216,000. Pacer Advisors Inc. lifted its position in shares of Eaton by 30.5% during the 4th quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock valued at $8,205,000 after buying an additional 7,964 shares in the last quarter. Chicago Capital LLC bought a new position in shares of Eaton during the 4th quarter valued at approximately $2,958,000. Finally, Neo Ivy Capital Management bought a new stake in Eaton during the 3rd quarter worth approximately $479,000. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Eaton

In other Eaton news, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the transaction, the insider now directly owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the transaction, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the sale, the insider now directly owns 5,514 shares in the company, valued at $1,593,380.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,969 shares of company stock valued at $10,904,774. 0.53% of the stock is currently owned by insiders.

Eaton Stock Down 0.6 %

Shares of ETN stock traded down $1.76 on Friday, hitting $307.18. The stock had a trading volume of 562,251 shares, compared to its average volume of 1,872,064. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. Eaton Co. plc has a one year low of $161.12 and a one year high of $331.47. The business has a 50 day moving average price of $300.20 and a 200 day moving average price of $253.91. The company has a market cap of $122.72 billion, a PE ratio of 38.29, a P/E/G ratio of 2.57 and a beta of 1.07.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.08. The firm had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.06 EPS. Research analysts anticipate that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were issued a $0.94 dividend. The ex-dividend date of this dividend was Friday, March 8th. This is an increase from Eaton’s previous quarterly dividend of $0.86. This represents a $3.76 dividend on an annualized basis and a yield of 1.22%. Eaton’s payout ratio is currently 46.88%.

Analyst Ratings Changes

ETN has been the subject of a number of analyst reports. The Goldman Sachs Group increased their price objective on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $286.00 to $371.00 in a research report on Friday, April 5th. UBS Group lifted their price target on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Berenberg Bank boosted their target price on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Mizuho lifted their price objective on shares of Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $295.60.

Eaton 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.