Northwest Wealth Management LLC Sells 179 Shares of Eaton Co. plc (NYSE:ETN)

Northwest Wealth Management LLC decreased its stake in Eaton Co. plc (NYSE:ETN) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,993 shares of the industrial products company’s stock after selling 179 shares during the period. Eaton comprises about 1.6% of Northwest Wealth Management LLC’s holdings, making the stock its 16th largest holding. Northwest Wealth Management LLC’s holdings in Eaton were worth $6,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in ETN. Norges Bank bought a new position in Eaton in the fourth quarter valued at about $1,087,983,000. Capital World Investors raised its holdings in Eaton by 323.8% in the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after buying an additional 2,439,270 shares during the last quarter. Jennison Associates LLC boosted its position in Eaton by 2,857.4% during the 1st quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after buying an additional 1,219,790 shares during the period. Balyasny Asset Management L.P. grew its holdings in Eaton by 2,006.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company’s stock worth $232,326,000 after acquiring an additional 918,936 shares during the last quarter. Finally, Swedbank AB acquired a new position in Eaton in the 2nd quarter valued at approximately $225,974,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Yelton sold 3,136 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. The disclosure for this sale can be found here. Insiders have sold a total of 52,511 shares of company stock worth $15,809,326 in the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Eaton Trading Down 0.3 %

NYSE:ETN opened at $284.93 on Friday. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $345.19. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $113.92 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.35 and a beta of 1.01. The firm has a fifty day simple moving average of $302.48 and a two-hundred day simple moving average of $310.93.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Analysts expect that Eaton Co. plc will post 10.74 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Monday, August 5th. Eaton’s payout ratio is 44.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Jefferies Financial Group lifted their price target on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Raymond James started coverage on Eaton in a report on Friday, June 28th. They set an “outperform” rating and a $375.00 target price on the stock. Wells Fargo & Company decreased their price target on Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Barclays lifted their price objective on Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Finally, Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $335.76.

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.