Westwood Holdings Group Inc. Has $39.75 Million Holdings in Eaton Co. plc (NYSE:ETN)

Westwood Holdings Group Inc. lessened its position in shares of Eaton Co. plc (NYSE:ETN) by 15.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,120 shares of the industrial products company’s stock after selling 23,087 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Eaton were worth $39,748,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Pinnbrook Capital Management LP acquired a new stake in Eaton in the 4th quarter valued at $15,109,000. Congress Wealth Management LLC DE boosted its stake in Eaton by 8.1% in the 4th quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock valued at $18,479,000 after buying an additional 5,725 shares in the last quarter. Norden Group LLC acquired a new stake in Eaton in the 1st quarter valued at $2,176,000. Weiss Asset Management LP acquired a new stake in Eaton in the 4th quarter valued at $1,001,000. Finally, Prospector Partners LLC boosted its stake in Eaton by 0.6% in the 4th quarter. Prospector Partners LLC now owns 71,307 shares of the industrial products company’s stock valued at $17,172,000 after buying an additional 415 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Eaton

In related news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the sale, the insider now owns 5,086 shares in the company, valued at $1,687,738.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Eaton Trading Down 5.9 %

NYSE ETN traded down $17.62 on Friday, reaching $280.26. The company had a trading volume of 4,528,035 shares, compared to its average volume of 2,834,101. The stock’s 50 day moving average is $317.93 and its 200-day moving average is $305.04. The stock has a market cap of $112.05 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.47 and a beta of 1.02. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $345.19.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. Equities analysts predict that Eaton Co. plc will post 10.66 earnings per share for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.34%. Eaton’s dividend payout ratio is presently 44.39%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Royal Bank of Canada cut their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday. Mizuho reiterated a “buy” rating and issued a $355.00 price objective (up previously from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. Argus lifted their price objective on Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Barclays lifted their price objective on Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Jefferies Financial Group lifted their price objective on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.53.

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.