Northwest Wealth Management LLC Sells 166 Shares of Eaton Co. plc (NYSE:ETN)

Northwest Wealth Management LLC lowered its stake in shares of Eaton Co. plc (NYSE:ETNFree Report) by 0.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 20,340 shares of the industrial products company’s stock after selling 166 shares during the period. Eaton makes up approximately 1.5% of Northwest Wealth Management LLC’s holdings, making the stock its 19th biggest position. Northwest Wealth Management LLC’s holdings in Eaton were worth $4,898,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Eaton by 0.5% during the third quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company’s stock valued at $7,749,751,000 after acquiring an additional 176,900 shares during the last quarter. FMR LLC increased its position in shares of Eaton by 36.0% during the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after purchasing an additional 5,270,331 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Eaton by 2.2% in the 3rd quarter. Northern Trust Corp now owns 5,009,435 shares of the industrial products company’s stock worth $1,068,412,000 after purchasing an additional 109,775 shares during the period. Norges Bank bought a new stake in Eaton during the fourth quarter valued at approximately $1,087,983,000. Finally, Raymond James & Associates increased its holdings in Eaton by 3.8% during the fourth quarter. Raymond James & Associates now owns 3,739,725 shares of the industrial products company’s stock valued at $900,600,000 after buying an additional 138,465 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ETN. Evercore ISI lifted their price target on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Wolfe Research reissued an “underperform” rating and set a $312.00 price target on shares of Eaton in a report on Monday, April 8th. Bank of America raised their price objective on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Berenberg Bank boosted their price objective on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $286.00 to $371.00 in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $314.27.

Read Our Latest Stock Analysis on Eaton

Eaton Price Performance

ETN stock traded down $3.77 during mid-day trading on Tuesday, hitting $319.21. The company had a trading volume of 477,889 shares, compared to its average volume of 2,006,890. The company has a market capitalization of $127.62 billion, a price-to-earnings ratio of 38.13, a P/E/G ratio of 2.63 and a beta of 1.04. The company has a 50-day moving average price of $323.85 and a 200 day moving average price of $284.04. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. Eaton Co. plc has a 12-month low of $185.55 and a 12-month high of $345.19.

Eaton (NYSE:ETNGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same period in the prior year, the company earned $1.88 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. On average, research analysts anticipate that Eaton Co. plc will post 10.56 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Friday, May 3rd. Eaton’s dividend payout ratio is presently 44.39%.

Insider Activity at Eaton

In other news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total value of $801,725.44. Following the sale, the insider now directly owns 5,086 shares in the company, valued at approximately $1,687,738.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.33% of the stock is owned by insiders.

Eaton Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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