Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. Makes New Investment in Eaton Co. plc (NYSE:ETN)

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 27,044 shares of the industrial products company's stock, valued at approximately $8,975,000.

Several other institutional investors also recently made changes to their positions in the stock. Flagship Wealth Advisors LLC acquired a new position in Eaton during the 4th quarter worth $27,000. Noble Wealth Management PBC bought a new stake in Eaton during the fourth quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in Eaton in the fourth quarter worth approximately $33,000. Activest Wealth Management boosted its stake in Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 87 shares in the last quarter. Finally, Knuff & Co LLC acquired a new position in shares of Eaton during the 4th quarter valued at $37,000. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on ETN. Barclays lowered their target price on Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a report on Friday, April 4th. Jefferies Financial Group lowered their price objective on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Citigroup increased their target price on shares of Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Wells Fargo & Company restated an "overweight" rating and issued a $355.00 price target on shares of Eaton in a research report on Monday, May 5th. Finally, Royal Bank of Canada increased their price objective on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Eaton currently has a consensus rating of "Moderate Buy" and a consensus target price of $367.83.

Eaton Stock Performance

Shares of Eaton stock opened at $329.34 on Tuesday. The firm has a fifty day moving average of $288.15 and a two-hundred day moving average of $319.43. 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 stock has a market capitalization of $128.87 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 2.64 and a beta of 1.14. 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 announced its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period last year, the company posted $2.40 EPS. Eaton's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a $1.04 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.26%. Eaton's dividend payout ratio (DPR) is currently 41.98%.

Insiders Place Their Bets

In related news, insider Michael Yelton sold 2,120 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 51,054 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the transaction, the insider now directly owns 489,444 shares of the company's stock, valued at $149,490,880.92. This trade represents a 9.45% 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 over the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

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.

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