Mostly because it is all metal, I don't think it is electric related.
Found in the woods, I'm thinking mining or logging. Plenty of mining in that area over the last couple hundred years...
It does seem pretty clear that it hung on a cable or rope.
Note that one 'clip' on the end of the blade is angled so the rope can be easily slipped in after clipping in the other end and wrapping around the hub.
So, in my mind, that means the cable could be removed to release whatever was hanging from it, not permanently fixed in place on the cable.
Does the 'blade' move?
Good mystery...