CWA Asset Management Group LLC Sells 75 Shares of Eaton Co. plc (NYSE:ETN)

CWA Asset Management Group LLC cut its holdings in Eaton Co. plc (NYSE:ETN) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,929 shares of the industrial products company’s stock after selling 75 shares during the quarter. CWA Asset Management Group LLC’s holdings in Eaton were worth $2,299,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Eaton by 6.9% during the fourth quarter. GAMMA Investing LLC now owns 13,123 shares of the industrial products company’s stock worth $4,355,000 after acquiring an additional 843 shares in the last quarter. Versant Capital Management Inc increased its stake in Eaton by 113.4% in the fourth quarter. Versant Capital Management Inc now owns 636 shares of the industrial products company’s stock valued at $211,000 after purchasing an additional 338 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Eaton by 4.1% during the third quarter. Principal Financial Group Inc. now owns 457,350 shares of the industrial products company’s stock valued at $151,584,000 after purchasing an additional 17,965 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in shares of Eaton by 48.9% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after purchasing an additional 13,497 shares in the last quarter. Finally, Legacy Wealth Management LLC MS acquired a new stake in shares of Eaton in the 3rd quarter valued at about $385,000. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eaton

In related news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,981 shares of company stock worth $27,660,117 over the last ninety days. 0.53% of the stock is currently owned by company insiders.

Eaton Trading Up 1.7 %

NYSE ETN opened at $348.39 on Tuesday. The stock has a market capitalization of $137.68 billion, a price-to-earnings ratio of 37.06, a PEG ratio of 2.74 and a beta of 1.06. The business’s fifty day moving average is $354.73 and its 200-day moving average is $328.29. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a one year low of $234.20 and a one year high of $379.99.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the previous year, the company earned $2.47 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. Equities research analysts predict that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Analyst Upgrades and Downgrades

ETN has been the topic of several recent research reports. Mizuho increased their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Sanford C. Bernstein began coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Raymond James decreased their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Barclays raised their price objective on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and boosted their target price for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $368.83.

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.