Western Financial Corp CA Trims Holdings in Eaton Co. plc (NYSE:ETN)

Western Financial Corp CA reduced its stake in shares of Eaton Co. plc (NYSE:ETN) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,601 shares of the industrial products company’s stock after selling 157 shares during the quarter. Western Financial Corp CA’s holdings in Eaton were worth $863,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Eaton by 253.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after acquiring an additional 1,629,856 shares in the last quarter. International Assets Investment Management LLC raised its position in Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after purchasing an additional 1,070,024 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after buying an additional 597,700 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in shares of Eaton during the 3rd quarter worth $137,794,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Eaton by 3,508.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock valued at $133,321,000 after buying an additional 390,595 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 72,981 shares of company stock worth $26,318,917. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Down 0.2 %

Shares of ETN opened at $326.32 on Friday. The firm has a market cap of $128.96 billion, a P/E ratio of 34.72, a PEG ratio of 2.21 and a beta of 1.06. Eaton Co. plc has a 12 month low of $245.65 and a 12 month high of $379.99. The stock’s 50 day moving average is $349.23 and its two-hundred day moving average is $331.08. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.32% and a return on equity of 21.97%. During the same quarter in the prior year, the business earned $2.55 EPS. Analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on ETN shares. Mizuho increased their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. dropped their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Sanford C. Bernstein assumed coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research report on Tuesday. Finally, Bank of America boosted their price target on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $369.30.

About Eaton

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.