Eaton Co. plc (NYSE:ETN) Shares Purchased by TCW Group Inc.

TCW Group Inc. raised its position in Eaton Co. plc (NYSE:ETN - Free Report) by 2.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,395 shares of the industrial products company's stock after acquiring an additional 2,451 shares during the quarter. TCW Group Inc.'s holdings in Eaton were worth $32,943,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Breakwater Investment Management lifted its position in shares of Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company's stock worth $26,000 after purchasing an additional 78 shares during the last quarter. Proffitt & Goodson Inc. purchased a new stake in Eaton during the 2nd quarter worth about $29,000. Groupama Asset Managment boosted its position in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock worth $31,000 after acquiring an additional 4,298 shares in the last quarter. LGT Financial Advisors LLC purchased a new position in shares of Eaton in the 2nd quarter valued at about $33,000. Finally, Morse Asset Management Inc acquired a new stake in shares of Eaton during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Stock Performance

Shares of NYSE:ETN traded up $3.50 during midday trading on Wednesday, hitting $361.99. The stock had a trading volume of 2,440,743 shares, compared to its average volume of 2,089,836. Eaton Co. plc has a 1 year low of $231.84 and a 1 year high of $379.99. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average price of $354.02 and a two-hundred day moving average price of $326.12. The company has a market capitalization of $143.06 billion, a PE ratio of 38.23, a P/E/G ratio of 2.81 and a beta of 1.03.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.47 EPS. As a group, equities analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Monday, November 4th. Eaton's dividend payout ratio (DPR) is currently 40.00%.

Insider Transactions at Eaton

In other Eaton news, insider Craig Arnold sold 61,569 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm's stock in a transaction on 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 owns 31,200 shares of the company's stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,981 shares of company stock valued at $24,100,317 in the last ninety days. 0.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ETN has been the topic of several recent analyst reports. Morgan Stanley began coverage on shares of Eaton in a research note on Friday, September 6th. They issued an "overweight" rating and a $370.00 price target on the stock. Wolfe Research raised shares of Eaton from an "underperform" rating to a "peer perform" rating in a research report on Friday, September 6th. Royal Bank of Canada reissued an "outperform" rating and issued a $374.00 price target on shares of Eaton in a research report on Friday, November 1st. Sanford C. Bernstein started coverage on Eaton in a report on Tuesday, November 5th. They set an "outperform" rating and a $382.00 price objective on the stock. Finally, Mizuho boosted their target price on Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $367.83.

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.