Eaton Co. plc (NYSE:ETN) Shares Sold by TCW Group Inc.

TCW Group Inc. lessened its position in Eaton Co. plc (NYSE:ETN) by 17.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 82,355 shares of the industrial products company’s stock after selling 17,040 shares during the period. TCW Group Inc.’s holdings in Eaton were worth $27,331,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Eaton by 253.2% in the 3rd 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 worth $753,590,000 after acquiring an additional 1,629,856 shares during the period. Janus Henderson Group PLC grew its position in 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 valued at $801,798,000 after buying an additional 597,700 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Eaton in the 3rd quarter valued at about $137,794,000. Assenagon Asset Management S.A. grew its position in Eaton by 3,508.4% in the 4th 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 in the last quarter. Finally, Franklin Resources Inc. grew its position in Eaton by 15.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after buying an additional 316,830 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN opened at $297.11 on Friday. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The company has a 50-day moving average of $331.97 and a two-hundred day moving average of $332.43. The stock has a market cap of $117.42 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 2.64 and a beta of 1.05. 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 (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period in the previous year, the business earned $2.55 earnings per share. On average, equities research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating on shares of Eaton in a research report on Thursday, February 13th. Melius Research reiterated a “hold” rating and issued a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Jefferies Financial Group increased their target price on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Eaton in a research report on Thursday, February 13th. Finally, Evercore ISI reduced their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $366.05.

Insider Transactions at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was 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 directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

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.