Windward Capital Management Co. CA Cuts Stake in Eaton Co. plc (NYSE:ETN)

Windward Capital Management Co. CA decreased its stake in Eaton Co. plc (NYSE:ETN) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,228 shares of the industrial products company’s stock after selling 551 shares during the period. Windward Capital Management Co. CA’s holdings in Eaton were worth $5,715,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Gryphon Financial Partners LLC grew its stake in shares of Eaton by 81.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock valued at $565,000 after acquiring an additional 1,053 shares in the last quarter. Principal Securities Inc. acquired a new position in Eaton during the 4th quarter valued at approximately $1,043,000. Calton & Associates Inc. bought a new position in Eaton during the 4th quarter worth $224,000. Teacher Retirement System of Texas grew its stake in Eaton by 15.8% during the 4th quarter. Teacher Retirement System of Texas now owns 99,968 shares of the industrial products company’s stock worth $24,074,000 after buying an additional 13,668 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of Eaton by 54.4% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 8,111 shares of the industrial products company’s stock worth $1,953,000 after acquiring an additional 2,859 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

ETN opened at $284.97 on Friday. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19. The firm has a market capitalization of $113.93 billion, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 2.35 and a beta of 1.01. The stock’s 50 day moving average price is $302.48 and its two-hundred day moving average price is $311.18. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. On average, equities analysts forecast that Eaton Co. plc will post 10.74 earnings per share for the current year.

Eaton Announces Dividend

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

Insider Activity

In related news, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the transaction, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s 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 transaction, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,511 shares of company stock worth $15,809,326. Company insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ETN. Barclays raised their target price on Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Evercore ISI reduced their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Wells Fargo & Company dropped their target price on Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada decreased their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. 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. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $335.76.

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.