Western Wealth Management LLC Sells 3,740 Shares of Eaton Co. plc (NYSE:ETN)

Western Wealth Management LLC lessened its holdings in Eaton Co. plc (NYSE:ETN) by 53.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,258 shares of the industrial products company’s stock after selling 3,740 shares during the period. Western Wealth Management LLC’s holdings in Eaton were worth $1,081,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ETN. Norges Bank bought a new position in shares of Eaton in the 4th quarter worth approximately $1,495,582,000. Capital International Investors bought a new position in shares of Eaton in the 4th quarter worth approximately $523,541,000. Proficio Capital Partners LLC lifted its stake in shares of Eaton by 42,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock worth $243,036,000 after purchasing an additional 730,594 shares during the period. Leigh Baldwin & CO. LLC bought a new position in shares of Eaton in the 4th quarter worth approximately $231,552,000. Finally, Janus Henderson Group PLC lifted its stake in shares of Eaton by 24.3% in the 4th quarter. Janus Henderson Group PLC now owns 3,007,570 shares of the industrial products company’s stock worth $998,144,000 after purchasing an additional 588,370 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ETN shares. BNP Paribas Exane started coverage on shares of Eaton in a report on Thursday, May 15th. They issued an “outperform” rating and a $380.00 target price for the company. BNP Paribas started coverage on shares of Eaton in a report on Thursday, May 15th. They issued an “outperform” rating and a $380.00 target price for the company. Morgan Stanley reduced their target price on shares of Eaton from $385.00 to $375.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Royal Bank of Canada increased their target price on shares of Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Finally, Evercore ISI increased their target price on shares of Eaton from $326.00 to $349.00 and gave the stock an “in-line” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $367.83.

Insider Activity at Eaton

In related news, insider Michael Yelton sold 2,120 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider now directly owns 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the sale, the insider now owns 490,208 shares of the company’s stock, valued at approximately $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is owned by corporate insiders.

Eaton Trading Down 0.5%

Shares of ETN opened at $320.86 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99. The company has a 50 day simple moving average of $290.07 and a two-hundred day simple moving average of $319.44. The firm has a market cap of $125.55 billion, a P/E ratio of 33.77, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the firm posted $2.40 EPS. The company’s revenue was up 7.3% on a year-over-year basis. On average, equities analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, May 5th. Eaton’s dividend payout ratio (DPR) is presently 41.98%.

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.