Western Financial Corp CA Sells 157 Shares of Eaton Co. plc (NYSE:ETN)

Western Financial Corp CA lowered its position in shares of Eaton Co. plc (NYSE:ETN) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,601 shares of the industrial products company’s stock after selling 157 shares during the period. Western Financial Corp CA’s holdings in Eaton were worth $863,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC lifted its stake in Eaton by 9.1% during the 4th quarter. Chicago Partners Investment Group LLC now owns 3,357 shares of the industrial products company’s stock valued at $1,159,000 after acquiring an additional 279 shares during the period. Waldron Private Wealth LLC lifted its position in Eaton by 7.0% during the fourth quarter. Waldron Private Wealth LLC now owns 2,706 shares of the industrial products company’s stock valued at $898,000 after purchasing an additional 178 shares during the period. Scharf Investments LLC boosted its holdings in Eaton by 7.3% in the fourth quarter. Scharf Investments LLC now owns 3,327 shares of the industrial products company’s stock worth $1,104,000 after purchasing an additional 225 shares during the last quarter. Everett Harris & Co. CA grew its position in Eaton by 31.4% in the 4th quarter. Everett Harris & Co. CA now owns 1,223 shares of the industrial products company’s stock worth $406,000 after purchasing an additional 292 shares during the period. Finally, Clear Creek Financial Management LLC raised its stake in Eaton by 90.1% during the 4th quarter. Clear Creek Financial Management LLC now owns 2,753 shares of the industrial products company’s stock valued at $914,000 after buying an additional 1,305 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 in the company, valued at approximately $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. Over the last ninety days, insiders sold 72,981 shares of company stock valued at $26,318,917. 0.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ETN has been the subject of several research analyst reports. UBS Group began coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Bank of America increased their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Sanford C. Bernstein began coverage on shares of Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research report on Tuesday. Finally, Royal Bank of Canada boosted their price objective on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $369.30.

Eaton Stock Down 0.2 %

ETN opened at $326.32 on Friday. The company has a market capitalization of $128.96 billion, a PE ratio of 34.72, a price-to-earnings-growth ratio of 2.21 and a beta of 1.06. The firm has a 50-day simple moving average of $349.23 and a two-hundred day simple moving average of $331.08. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 52 week low of $245.65 and a 52 week high of $379.99.

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

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.