Vontobel Holding Ltd. Sells 3,169 Shares of Eaton Co. plc (NYSE:ETN)

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

A number of other hedge funds have also made changes to their positions in the stock. Creative Planning boosted its stake in Eaton by 2.7% during the 3rd quarter. Creative Planning now owns 181,067 shares of the industrial products company's stock valued at $60,013,000 after purchasing an additional 4,705 shares during the period. Bleakley Financial Group LLC boosted its stake in Eaton by 0.4% during the 3rd quarter. Bleakley Financial Group LLC now owns 13,088 shares of the industrial products company's stock valued at $4,338,000 after purchasing an additional 54 shares during the period. Secure Asset Management LLC boosted its stake in Eaton by 8.8% during the 3rd quarter. Secure Asset Management LLC now owns 2,745 shares of the industrial products company's stock valued at $910,000 after purchasing an additional 223 shares during the period. Aspiriant LLC boosted its stake in Eaton by 25.9% during the 3rd quarter. Aspiriant LLC now owns 1,022 shares of the industrial products company's stock valued at $339,000 after purchasing an additional 210 shares during the period. Finally, Stratos Wealth Partners LTD. boosted its stake in Eaton by 3.7% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 27,587 shares of the industrial products company's stock valued at $9,144,000 after purchasing an additional 990 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Activity

In other news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction on 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 sale, the director now directly owns 43,203 shares of the company's stock, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton 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 sale, the insider now directly owns 31,200 shares of the company's stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company's stock.

Eaton Price Performance

ETN stock traded down $3.81 during midday trading on Wednesday, reaching $309.31. 2,672,938 shares of the company's stock traded hands, compared to its average volume of 3,371,369. The company has a 50-day simple moving average of $335.20 and a two-hundred day simple moving average of $332.20. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The company has a market cap of $122.24 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 2.64 and a beta of 1.05. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating 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 quarter in the previous year, the business posted $2.55 earnings per share. On average, analysts anticipate that Eaton Co. plc will post 12.03 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on ETN. Melius Research restated a "hold" rating and set a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Jefferies Financial Group raised their price objective on Eaton from $400.00 to $440.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Royal Bank of Canada reduced their price objective on Eaton from $407.00 to $405.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Sanford C. Bernstein began coverage on Eaton in a research report on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 price objective for the company. Finally, Melius downgraded Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Eaton currently has an average rating of "Moderate Buy" and an average price target of $366.05.

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.