TCW Group Inc. Has $32.94 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

TCW Group Inc. lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 99,395 shares of the industrial products company’s stock after acquiring an additional 2,451 shares during the period. TCW Group Inc.’s holdings in Eaton were worth $32,943,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETN. Geode Capital Management LLC grew its holdings in shares of Eaton by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock worth $2,665,342,000 after purchasing an additional 56,516 shares during the last quarter. Legal & General Group Plc grew its stake 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 worth $1,005,317,000 after buying an additional 18,077 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Eaton by 32.8% during the third 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Eaton by 253.2% in 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 during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Eaton by 2.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,422,189 shares of the industrial products company’s stock worth $471,370,000 after acquiring an additional 40,078 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Raymond James cut their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Morgan Stanley started coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target on the stock. Sanford C. Bernstein assumed coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Wells Fargo & Company increased their price target on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Mizuho boosted their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Four equities research 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $367.83.

Eaton Price Performance

Eaton stock opened at $358.55 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $141.70 billion, a P/E ratio of 38.14, a PEG ratio of 2.81 and a beta of 1.03. The business has a 50-day moving average of $353.40 and a 200-day moving average of $325.99. Eaton Co. plc has a 1 year low of $231.84 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.47 earnings per share. On average, equities analysts anticipate that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.05%. Eaton’s payout ratio is 40.00%.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction dated 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 owns 31,200 shares in the company, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,981 shares of company stock valued at $24,100,317 over the last 90 days. 0.53% of the stock is owned by company insiders.

Eaton 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.