Robeco Institutional Asset Management B.V. Sells 160,947 Shares of Eaton Corporation, PLC (NYSE:ETN)

Robeco Institutional Asset Management B.V. lessened its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 65.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 86,451 shares of the industrial products company's stock after selling 160,947 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Eaton were worth $23,500,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ETN. Norden Group LLC grew its position in shares of Eaton by 3.4% during the fourth quarter. Norden Group LLC now owns 978 shares of the industrial products company's stock valued at $325,000 after purchasing an additional 32 shares in the last quarter. Nwam LLC grew its position in shares of Eaton by 0.6% during the fourth quarter. Nwam LLC now owns 5,314 shares of the industrial products company's stock valued at $1,764,000 after purchasing an additional 34 shares in the last quarter. Founders Financial Alliance LLC grew its position in shares of Eaton by 0.7% during the fourth quarter. Founders Financial Alliance LLC now owns 5,415 shares of the industrial products company's stock valued at $1,797,000 after purchasing an additional 35 shares in the last quarter. Sound View Wealth Advisors Group LLC grew its position in shares of Eaton by 1.1% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 3,587 shares of the industrial products company's stock valued at $1,190,000 after purchasing an additional 38 shares in the last quarter. Finally, Lantern Wealth Advisors LLC grew its position in shares of Eaton by 1.0% during the fourth quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock valued at $1,340,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ETN shares. KeyCorp raised their price objective on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Jefferies Financial Group cut their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Citigroup lifted their price target on Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. BNP Paribas started coverage on Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Finally, BNP Paribas Exane started coverage on Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $368.78.

Insider Activity

In other news, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the sale, the insider now owns 489,444 shares of the company's stock, valued at approximately $149,490,880.92. The trade was a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Yelton sold 2,120 shares of the business's 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 $1,004,014.34. This trade represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 156,660 shares of company stock valued at $49,622,894. Corporate insiders own 0.30% of the company's stock.

Eaton Trading Up 1.6%

Shares of NYSE:ETN traded up $5.60 during trading hours on Friday, hitting $353.74. 3,704,268 shares of the company's stock traded hands, compared to its average volume of 2,665,307. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $379.99. The business has a fifty day moving average price of $318.04 and a 200-day moving average price of $312.49. The firm has a market capitalization of $138.42 billion, a P/E ratio of 35.70, a price-to-earnings-growth ratio of 2.74 and a beta of 1.16. 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 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 return on equity of 23.41% and a net margin of 15.55%. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the previous year, the business earned $2.40 earnings per share. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. Equities analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Monday, May 5th. 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.