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

Mn Services Vermogensbeheer B.V. decreased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,114 shares of the industrial products company’s stock after selling 3,800 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Eaton were worth $51,080,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Leeward Financial Partners LLC raised its position in Eaton by 3.9% in the 3rd quarter. Leeward Financial Partners LLC now owns 20,766 shares of the industrial products company’s stock worth $6,883,000 after purchasing an additional 777 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Eaton by 1.2% during the 3rd quarter. QRG Capital Management Inc. now owns 116,792 shares of the industrial products company’s stock valued at $38,710,000 after purchasing an additional 1,403 shares in the last quarter. National Pension Service lifted its holdings in Eaton by 13.0% in the third quarter. National Pension Service now owns 865,820 shares of the industrial products company’s stock worth $286,967,000 after buying an additional 99,381 shares during the period. Wetzel Investment Advisors Inc. grew its holdings in shares of Eaton by 1.5% during the 3rd quarter. Wetzel Investment Advisors Inc. now owns 3,073 shares of the industrial products company’s stock worth $1,019,000 after acquiring an additional 44 shares during the period. Finally, Vestor Capital LLC bought a new stake in shares of Eaton during the third quarter valued at approximately $4,118,000. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ETN has been the topic of several recent research reports. Raymond James cut their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Mizuho raised their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Royal Bank of Canada restated an “outperform” rating and set a $374.00 price objective on shares of Eaton in a research note on Friday. Finally, Jefferies Financial Group increased their price target on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $341.00.

Eaton Stock Performance

Shares of NYSE ETN traded down $0.93 during trading on Monday, hitting $333.13. The company had a trading volume of 347,372 shares, compared to its average volume of 2,098,475. The stock has a 50 day simple moving average of $323.09 and a 200 day simple moving average of $318.36. The firm has a market capitalization of $132.62 billion, a P/E ratio of 35.56, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.07 and a current ratio of 1.53. Eaton Co. plc has a 12 month low of $211.99 and a 12 month high of $349.74.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $2.47 EPS. As a group, analysts anticipate that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.13%. Eaton’s payout ratio is 40.00%.

Insider Buying and Selling at Eaton

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Eaton news, Director Dorothy C. Thompson acquired 2,205 shares of the stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 in the last three months. 0.53% of the stock is currently owned by corporate insiders.

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.