Mn Services Vermogensbeheer B.V. Trims Position in Eaton Co. plc (NYSE:ETN)

Mn Services Vermogensbeheer B.V. lessened its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 7.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 146,314 shares of the industrial products company's stock after selling 11,400 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Eaton were worth $39,773,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Eaton by 1.4% during the fourth quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock worth $1,109,000 after acquiring an additional 45 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Eaton by 17.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock worth $303,000 after purchasing an additional 136 shares during the last quarter. Van ECK Associates Corp purchased a new stake in shares of Eaton in the fourth quarter worth about $22,022,000. Valeo Financial Advisors LLC grew its holdings in Eaton by 2.5% during the 4th quarter. Valeo Financial Advisors LLC now owns 11,537 shares of the industrial products company's stock valued at $3,829,000 after buying an additional 280 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG purchased a new stake in shares of Eaton during the 4th quarter worth approximately $42,839,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Trading Up 4.6%

Eaton stock traded up $14.80 during trading on Monday, reaching $338.46. 1,142,645 shares of the company were exchanged, compared to its average volume of 2,637,799. 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 stock's 50 day simple moving average is $304.79 and its two-hundred day simple moving average is $314.23. The company has a market capitalization of $132.44 billion, a P/E ratio of 35.65, a PEG ratio of 2.64 and a beta of 1.16. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99.

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

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.23%. Eaton's dividend payout ratio is presently 41.98%.

Insider Activity at Eaton

In other Eaton news, insider Craig Arnold sold 103,486 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 490,208 shares in the company, valued at $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the sale, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock worth $49,622,894 in the last three months. 0.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays raised their price objective on shares of Eaton from $306.00 to $323.00 and gave the stock an "equal weight" rating in a research note on Monday, June 9th. Morgan Stanley reduced their target price on Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Citigroup upped their price target on shares of Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a report on Monday, May 5th. BNP Paribas Exane initiated coverage on shares of Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective for the company. Finally, Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research note on Sunday, May 18th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $368.78.

Eaton Company 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.