MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Acquires 1,547 Shares of Eaton Co. plc (NYSE:ETN)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 149.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,584 shares of the industrial products company's stock after purchasing an additional 1,547 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Eaton were worth $702,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bearing Point Capital LLC acquired a new stake in Eaton in the fourth quarter valued at approximately $2,713,000. Kennebec Savings Bank boosted its stake in Eaton by 5.4% in the first quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company's stock valued at $738,000 after acquiring an additional 139 shares in the last quarter. American National Bank & Trust boosted its stake in Eaton by 5.4% in the first quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock valued at $855,000 after acquiring an additional 162 shares in the last quarter. Castle Rock Wealth Management LLC boosted its stake in Eaton by 7.0% in the fourth quarter. Castle Rock Wealth Management LLC now owns 8,330 shares of the industrial products company's stock valued at $2,575,000 after acquiring an additional 543 shares in the last quarter. Finally, CogentBlue Wealth Advisors LLC acquired a new stake in Eaton in the fourth quarter valued at approximately $670,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on ETN shares. BNP Paribas started coverage on shares of Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $355.00 price target on shares of Eaton in a report on Monday, May 5th. Jefferies Financial Group decreased their price target on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Royal Bank of Canada raised their price target on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Finally, Morgan Stanley decreased their price target on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $368.78.

Insider Activity

In other news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the sale, the insider now owns 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider now owns 3,382 shares in the company, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock worth $49,622,894 over the last 90 days. 0.30% of the stock is currently owned by company insiders.

Eaton Stock Down 2.1%

ETN stock opened at $323.26 on Monday. The firm has a market cap of $126.49 billion, a PE ratio of 34.03, a P/E/G ratio of 2.64 and a beta of 1.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The firm's fifty day moving average is $304.79 and its 200 day moving average is $314.23. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The firm's revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business earned $2.40 earnings per share. On average, research analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.29%. Eaton's dividend payout ratio is presently 41.98%.

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.

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