Eaton Co. plc (NYSE:ETN) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 4.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 479,868 shares of the industrial products company’s stock after purchasing an additional 22,518 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Eaton worth $159,254,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ETN. Resonant Capital Advisors LLC increased its holdings in Eaton by 2.3% during the 3rd quarter. Resonant Capital Advisors LLC now owns 1,914 shares of the industrial products company’s stock worth $634,000 after purchasing an additional 43 shares during the last quarter. Cyndeo Wealth Partners LLC purchased a new stake in Eaton during the 3rd quarter worth approximately $417,000. Allspring Global Investments Holdings LLC increased its holdings in Eaton by 19.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 157,615 shares of the industrial products company’s stock worth $52,240,000 after purchasing an additional 25,843 shares during the last quarter. Godsey & Gibb Inc. increased its holdings in Eaton by 2.3% during the 3rd quarter. Godsey & Gibb Inc. now owns 79,066 shares of the industrial products company’s stock worth $26,206,000 after purchasing an additional 1,793 shares during the last quarter. Finally, 1858 Wealth Management LLC increased its holdings in Eaton by 65.4% during the 3rd quarter. 1858 Wealth Management LLC now owns 2,018 shares of the industrial products company’s stock worth $669,000 after purchasing an additional 798 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Gregory R. Page sold 10,000 shares of the company’s 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 owns 43,203 shares in the company, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s 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 sale, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

ETN has been the subject of a number of research analyst reports. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and boosted their price target for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Melius Research reiterated a “hold” rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. JPMorgan Chase & Co. lowered their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Wells Fargo & Company lowered their price target on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Finally, Barclays boosted their price target on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $369.20.

Eaton Trading Up 0.5 %

Shares of ETN stock opened at $309.21 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The stock has a fifty day moving average of $337.21 and a two-hundred day moving average of $331.89. The firm has a market capitalization of $122.20 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (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 quarter last year, the firm posted $2.55 earnings per share. As a group, research analysts expect 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.