TCW Group Inc. Sells 17,040 Shares of Eaton Co. plc (NYSE:ETN)

TCW Group Inc. lessened its holdings in shares of Eaton Co. plc (NYSE:ETN) by 17.1% during the 4th quarter, Holdings Channel.com reports. The fund 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Callan Capital LLC raised its position in Eaton by 26.9% during the fourth quarter. Callan Capital LLC now owns 1,552 shares of the industrial products company’s stock valued at $515,000 after acquiring an additional 329 shares in the last quarter. Redmond Asset Management LLC acquired a new position in Eaton during the fourth quarter valued at approximately $1,106,000. Boyd Watterson Asset Management LLC OH grew its holdings in Eaton by 1.3% during the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 23,779 shares of the industrial products company’s stock valued at $7,892,000 after purchasing an additional 313 shares during the last quarter. Greystone Financial Group LLC grew its holdings in Eaton by 28.5% during the fourth quarter. Greystone Financial Group LLC now owns 2,119 shares of the industrial products company’s stock valued at $703,000 after purchasing an additional 470 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT grew its holdings in Eaton by 26.3% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 28,887 shares of the industrial products company’s stock valued at $9,587,000 after purchasing an additional 6,022 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wells Fargo & Company reiterated an “equal weight” rating on shares of Eaton in a report on Thursday, February 13th. Royal Bank of Canada reiterated an “outperform” rating on shares of Eaton in a report on Thursday, February 13th. Citigroup lowered their price target on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Barclays raised their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $366.05.

Insider Activity at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated 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 transaction, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton 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 transaction, 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 disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Eaton Stock Down 3.8 %

Shares of NYSE ETN opened at $297.11 on Friday. The stock has a market cap of $117.42 billion, a PE ratio of 31.27, a PEG ratio of 2.64 and a beta of 1.05. The business has a fifty day moving average of $331.97 and a two-hundred day moving average of $332.43. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the previous year, the firm earned $2.55 earnings per share. As a group, equities research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

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.