Vontobel Holding Ltd. Acquires 9,174 Shares of Eaton Co. plc (NYSE:ETN)

Vontobel Holding Ltd. increased its holdings in Eaton Co. plc (NYSE:ETN) by 52.6% in the 3rd quarter, Holdings Channel reports. The fund owned 26,611 shares of the industrial products company’s stock after buying an additional 9,174 shares during the quarter. Vontobel Holding Ltd.’s holdings in Eaton were worth $8,820,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ETN. Norden Group LLC bought a new stake in shares of Eaton in the 1st quarter worth approximately $2,176,000. Griffin Asset Management Inc. bought a new stake in Eaton in the first quarter worth $813,000. IAM Advisory LLC purchased a new stake in shares of Eaton in the second quarter worth $599,000. Envestnet Portfolio Solutions Inc. raised its position in shares of Eaton by 19.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock worth $24,616,000 after purchasing an additional 12,689 shares during the last quarter. Finally, Interval Partners LP boosted its stake in Eaton by 82.7% in the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after purchasing an additional 68,693 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eaton

In related news, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were bought at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the transaction, the director now directly owns 500 shares in the company, valued at $149,485. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Karenann K. Terrell bought 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at $149,485. The disclosure for this purchase can be found here. Insiders have sold a total of 52,511 shares of company stock valued at $15,809,326 over the last ninety days. 0.53% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on ETN shares. Royal Bank of Canada decreased their target price 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. Barclays lifted their target price on shares of Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Evercore ISI reduced their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Mizuho raised their price objective on shares of Eaton from $355.00 to $365.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Raymond James dropped their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $340.06.

Eaton Stock Performance

Eaton stock opened at $348.33 on Friday. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $349.74. The company’s 50-day moving average is $312.88 and its 200 day moving average is $316.41. The firm has a market capitalization of $139.26 billion, a P/E ratio of 41.13, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07.

Eaton (NYSE:ETN) last issued its quarterly 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 firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. Research analysts forecast that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.08%. The ex-dividend date was Monday, August 5th. Eaton’s payout ratio is 44.39%.

About Eaton

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.