Westmount Partners LLC Has $327,000 Stock Holdings in Eaton Co. plc (NYSE:ETN)

Westmount Partners LLC increased its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 985 shares of the industrial products company’s stock after buying an additional 30 shares during the period. Westmount Partners LLC’s holdings in Eaton were worth $327,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Breakwater Investment Management increased its position in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 78 shares during the period. Groupama Asset Managment raised its holdings in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares during the last quarter. Morse Asset Management Inc purchased a new stake in Eaton during the third quarter worth about $33,000. West Financial Advisors LLC bought a new position in Eaton during the third quarter worth about $35,000. Finally, DT Investment Partners LLC bought a new position in Eaton during the third quarter worth about $37,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock traded down $0.48 during midday trading on Monday, hitting $340.97. The company had a trading volume of 1,517,294 shares, compared to its average volume of 2,134,285. The company’s 50 day simple moving average is $355.14 and its 200 day simple moving average is $328.96. Eaton Co. plc has a 52-week low of $236.04 and a 52-week high of $379.99. The stock has a market cap of $134.75 billion, a price-to-earnings ratio of 36.27, a PEG ratio of 2.70 and a beta of 1.06. 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 (NYSE:ETN) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the business posted $2.47 EPS. The company’s revenue was up 7.9% on a year-over-year basis. Research analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Insider Buying and Selling

In other news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares in the company, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ETN has been the subject of several research analyst reports. Wells Fargo & Company dropped their target price on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Barclays boosted their target price on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. UBS Group started coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target on the stock. Mizuho upped their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group boosted their target price on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $367.61.

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.