Eaton Co. plc (NYSE:ETN) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 147,908 shares of the industrial products company’s stock after selling 9,707 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Eaton were worth $49,100,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of ETN. Creative Planning boosted its holdings in shares of Eaton by 2.7% during the third quarter. Creative Planning now owns 181,067 shares of the industrial products company’s stock valued at $60,013,000 after acquiring an additional 4,705 shares during the period. Vontobel Holding Ltd. raised its position in Eaton by 52.6% in the third quarter. Vontobel Holding Ltd. now owns 26,611 shares of the industrial products company’s stock worth $8,820,000 after acquiring an additional 9,174 shares in the last quarter. B.O.S.S. Retirement Advisors LLC raised its position in Eaton by 18.4% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 1,270 shares of the industrial products company’s stock worth $421,000 after acquiring an additional 197 shares in the last quarter. SPC Financial Inc. raised its position in Eaton by 17.8% in the third quarter. SPC Financial Inc. now owns 11,769 shares of the industrial products company’s stock worth $3,901,000 after acquiring an additional 1,779 shares in the last quarter. Finally, Rheos Capital Works Inc. raised its position in Eaton by 233.3% in the third quarter. Rheos Capital Works Inc. now owns 50,000 shares of the industrial products company’s stock worth $16,572,000 after acquiring an additional 35,000 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. UBS Group assumed coverage on shares of Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target on the stock. Citigroup dropped their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Sanford C. Bernstein assumed coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. Bank of America boosted their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Melius Research restated a “hold” rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $369.20.

Eaton Price Performance

Shares of ETN opened at $307.70 on Friday. The company has a market capitalization of $121.60 billion, a price-to-earnings ratio of 32.39, a P/E/G ratio of 2.37 and a beta of 1.05. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The business’s 50-day moving average is $339.72 and its 200-day moving average is $331.47.

Eaton (NYSE:ETN) last issued its 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 period in the prior year, the business posted $2.55 EPS. Equities research analysts expect that Eaton Co. plc will post 12.04 EPS for the current fiscal year.

Insider Activity at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction that occurred 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 owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction that occurred 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 approximately $11,811,696. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

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.