Western Financial Corp CA Buys 79 Shares of Eaton Co. plc (NYSE:ETN)

Western Financial Corp CA raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,758 shares of the industrial products company’s stock after purchasing an additional 79 shares during the period. Western Financial Corp CA’s holdings in Eaton were worth $914,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ETN. Legal & General Group Plc raised its position in Eaton by 0.6% during the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after purchasing an additional 18,077 shares during the period. Capital World Investors boosted its position in shares of Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after buying an additional 2,439,270 shares during the period. Janus Henderson Group PLC grew its stake in shares of Eaton by 15.5% during the first quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock valued at $412,108,000 after buying an additional 176,571 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Eaton by 2,857.4% in the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after buying an additional 1,219,790 shares during the period. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Eaton by 61.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 790,182 shares of the industrial products company’s stock worth $247,074,000 after acquiring an additional 300,689 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ETN shares. Wells Fargo & Company increased their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Jefferies Financial Group boosted their price objective on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Raymond James reduced their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Citigroup started coverage on Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target for the company. Finally, Evercore ISI reduced their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $340.06.

Insider Activity

In other news, Director Karenann K. Terrell bought 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the acquisition, the director now directly owns 500 shares of the company’s stock, valued at $149,485. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karenann K. Terrell purchased 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were purchased at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the transaction, the director now owns 500 shares of the company’s stock, valued at $149,485. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 52,511 shares of company stock valued at $15,809,326. Company insiders own 0.53% of the company’s stock.

Eaton Stock Down 0.6 %

NYSE:ETN traded down $2.04 during mid-day trading on Monday, hitting $346.14. 599,209 shares of the company’s stock traded hands, compared to its average volume of 2,107,424. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The company has a market capitalization of $138.39 billion, a P/E ratio of 41.11, a P/E/G ratio of 2.58 and a beta of 1.02. The company has a fifty day moving average of $314.01 and a 200 day moving average of $316.65. Eaton Co. plc has a twelve month low of $193.26 and a twelve month high of $349.74.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. On average, analysts forecast that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a dividend of $0.94 per share. The ex-dividend date was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. Eaton’s dividend payout ratio is currently 44.39%.

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.