Vontobel Holding Ltd. Reduces Stock Holdings in Eaton Co. plc (NYSE:ETN)

Vontobel Holding Ltd. decreased its stake in Eaton Co. plc (NYSE:ETN) by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,442 shares of the industrial products company’s stock after selling 3,169 shares during the quarter. Vontobel Holding Ltd.’s holdings in Eaton were worth $7,780,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Creative Planning lifted its stake in shares of Eaton by 2.7% during the 3rd quarter. Creative Planning now owns 181,067 shares of the industrial products company’s stock worth $60,013,000 after acquiring an additional 4,705 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of Eaton by 0.4% in the 3rd quarter. Bleakley Financial Group LLC now owns 13,088 shares of the industrial products company’s stock worth $4,338,000 after acquiring an additional 54 shares in the last quarter. Secure Asset Management LLC raised its position in shares of Eaton by 8.8% in the 3rd quarter. Secure Asset Management LLC now owns 2,745 shares of the industrial products company’s stock worth $910,000 after acquiring an additional 223 shares in the last quarter. Aspiriant LLC raised its position in shares of Eaton by 25.9% in the 3rd quarter. Aspiriant LLC now owns 1,022 shares of the industrial products company’s stock worth $339,000 after acquiring an additional 210 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in shares of Eaton by 3.7% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 27,587 shares of the industrial products company’s stock worth $9,144,000 after acquiring an additional 990 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the subject of several recent research reports. Mizuho boosted their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Royal Bank of Canada dropped their target price on Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company dropped their target price on Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Sanford C. Bernstein assumed coverage on Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Finally, Citigroup dropped their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $369.20.

Insider Buying and Selling

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Eaton Stock Up 0.5 %

Shares of ETN opened at $309.21 on Friday. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $122.20 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 2.37 and a beta of 1.05. The stock’s 50-day moving average price is $337.21 and its 200-day moving average price is $331.39.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period in the prior year, the business earned $2.55 EPS. On average, sell-side analysts predict that Eaton Co. plc will post 12.04 EPS for the current year.

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.