Westmount Partners LLC Buys 30 Shares of Eaton Co. plc (NYSE:ETN)

Westmount Partners LLC raised its position in shares of Eaton Co. plc (NYSE:ETN) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Breakwater Investment Management boosted its holdings in shares of Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after buying an additional 78 shares during the last quarter. Morse Asset Management Inc bought a new stake in Eaton in the third quarter worth $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton in the third quarter valued at $35,000. DT Investment Partners LLC purchased a new position in shares of Eaton during the 3rd quarter worth about $37,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in Eaton in the 3rd quarter valued at about $44,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Craig Arnold sold 61,569 shares of the firm’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 transaction of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory R. Page sold 10,000 shares of Eaton 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 approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,981 shares of company stock worth $27,660,117 over the last 90 days. Corporate insiders own 0.53% of the company’s stock.

Eaton Price Performance

ETN stock traded down $0.48 during midday trading on Monday, reaching $340.97. 1,517,294 shares of the stock were exchanged, compared to its average volume of 2,134,285. The stock has a market capitalization of $134.75 billion, a PE ratio of 36.27, a P/E/G ratio of 2.70 and a beta of 1.06. Eaton Co. plc has a 52 week low of $236.04 and a 52 week high of $379.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The company has a fifty day moving average price of $355.14 and a 200 day moving average price of $328.96.

Eaton (NYSE:ETN) last announced 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. 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 in the previous year, the business earned $2.47 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. As a group, analysts expect that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors 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 annualized dividend and a yield of 1.10%. Eaton’s payout ratio is 40.00%.

Analyst Ratings Changes

A number of brokerages have issued reports on ETN. UBS Group started coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and raised their price objective for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Mizuho lifted their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Royal Bank of Canada boosted their price objective on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Bank of America increased their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Eaton currently has an average 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.