Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. Trims Holdings in Eaton Corporation, PLC (NYSE:ETN)

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. reduced its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 40.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,004 shares of the industrial products company's stock after selling 11,040 shares during the quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s holdings in Eaton were worth $4,350,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its holdings in Eaton by 1.2% in the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock worth $5,051,807,000 after purchasing an additional 182,455 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Eaton by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock valued at $2,714,677,000 after acquiring an additional 129,071 shares during the period. Nuveen Asset Management LLC boosted its stake in Eaton by 4.3% during the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock worth $1,550,226,000 after acquiring an additional 192,482 shares in the last quarter. Northern Trust Corp grew its holdings in Eaton by 8.8% in the fourth quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock worth $1,518,207,000 after purchasing an additional 368,241 shares during the period. Finally, Norges Bank bought a new stake in Eaton in the fourth quarter valued at $1,495,582,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ETN shares. Sanford C. Bernstein reissued an "outperform" rating and set a $396.00 price objective on shares of Eaton in a report on Monday, July 14th. JPMorgan Chase & Co. boosted their price target on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Barclays increased their price objective on shares of Eaton from $323.00 to $340.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. KeyCorp boosted their target price on Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Finally, Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, Eaton presently has an average rating of "Moderate Buy" and a consensus price target of $377.89.

Eaton Trading Down 0.2%

Eaton stock traded down $0.63 during trading hours on Tuesday, reaching $373.03. The stock had a trading volume of 1,805,090 shares, compared to its average volume of 2,665,594. The company has a fifty day simple moving average of $339.29 and a 200-day simple moving average of $314.57. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $384.51. The stock has a market cap of $145.97 billion, a PE ratio of 37.64, a PEG ratio of 2.82 and a beta of 1.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84.

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 (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The company had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter in the previous year, the company earned $2.40 earnings per share. Eaton's quarterly revenue was up 7.3% on a year-over-year basis. Analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Insider Buying and Selling at Eaton

In other news, insider Craig Arnold sold 103,486 shares of the company's 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 owned 490,208 shares in the company, valued at approximately $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael Yelton sold 2,120 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider owned 3,382 shares in the company, valued at approximately $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 have sold 156,660 shares of company stock valued at $49,622,894 over the last 90 days. Corporate insiders own 0.30% of the company's stock.

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.