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

Mn Services Vermogensbeheer B.V. reduced its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 188,714 shares of the industrial products company's stock after selling 6,000 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Eaton were worth $45,446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Eaton by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company's stock valued at $7,749,751,000 after acquiring an additional 176,900 shares in the last quarter. FMR LLC raised its position in Eaton by 36.0% in the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company's stock valued at $4,248,960,000 after purchasing an additional 5,270,331 shares during the last quarter. State Street Corp boosted its stake in shares of Eaton by 8.9% during the first quarter. State Street Corp now owns 16,538,340 shares of the industrial products company's stock valued at $2,833,676,000 after purchasing an additional 1,358,584 shares in the last quarter. Morgan Stanley grew its holdings in shares of Eaton by 26.2% during the fourth quarter. Morgan Stanley now owns 12,542,343 shares of the industrial products company's stock worth $1,968,521,000 after purchasing an additional 2,602,246 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Eaton by 2.0% in the first quarter. Geode Capital Management LLC now owns 7,084,548 shares of the industrial products company's stock valued at $1,210,672,000 after buying an additional 136,334 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Buying and Selling at Eaton

In related news, insider Peter Denk sold 1,731 shares of the company's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the completion of the sale, the insider now directly owns 5,514 shares in the company, valued at approximately $1,593,380.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Peter Denk sold 1,731 shares of the firm's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the sale, the insider now directly owns 5,514 shares of the company's stock, valued at $1,593,380.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Olivier Leonetti sold 4,461 shares of the company's stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the transaction, the insider now directly owns 630 shares of the company's stock, valued at approximately $171,360. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,969 shares of company stock worth $10,904,774. 0.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on ETN shares. Bank of America lifted their target price on shares of Eaton from $320.00 to $330.00 and gave the stock a "buy" rating in a research report on Monday, March 18th. Royal Bank of Canada raised shares of Eaton from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $286.00 to $371.00 in a research note on Friday, April 5th. Berenberg Bank raised their target price on Eaton from $200.00 to $345.00 and gave the stock a "buy" rating in a research report on Wednesday, March 6th. Evercore ISI boosted their price target on shares of Eaton from $262.00 to $308.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 20th. Finally, The Goldman Sachs Group upped their price target on shares of Eaton from $287.00 to $328.00 and gave the company a "buy" rating in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $295.60.

Eaton Price Performance

Shares of ETN traded up $1.24 during trading hours on Friday, reaching $318.50. 2,248,538 shares of the company's stock traded hands, compared to its average volume of 2,156,799. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The firm's 50 day simple moving average is $296.93 and its 200-day simple moving average is $251.45. The stock has a market cap of $127.24 billion, a PE ratio of 39.71, a price-to-earnings-growth ratio of 2.64 and a beta of 1.07. Eaton Co. plc has a 12 month low of $156.80 and a 12 month high of $331.47.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, beating analysts' consensus estimates of $2.47 by $0.08. The business had revenue of $5.97 billion for the quarter, compared to analysts' expectations of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The firm's revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.06 earnings per share. Equities analysts expect that Eaton Co. plc will post 10.25 EPS for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were paid a $0.94 dividend. This is a boost from Eaton's previous quarterly dividend of $0.86. This represents a $3.76 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Friday, March 8th. Eaton's payout ratio is 46.88%.

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.