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

Mn Services Vermogensbeheer B.V. grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 2.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 157,714 shares of the industrial products company’s stock after buying an additional 3,600 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Eaton were worth $52,341,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Horizon Bancorp Inc. IN raised its stake in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc acquired a new stake in shares of Eaton during the 3rd 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 during the period. Hager Investment Management Services LLC bought a new stake in shares of Eaton during the fourth quarter valued at about $38,000. Finally, Sierra Ocean LLC bought a new position in Eaton during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Eaton Stock Performance

ETN opened at $297.28 on Thursday. The stock’s 50 day moving average price is $328.71 and its two-hundred day moving average price is $332.55. The firm has a market capitalization of $117.48 billion, a P/E ratio of 31.29, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the previous year, the business posted $2.55 earnings per share. On average, equities analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ETN. Mizuho increased their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group raised their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Evercore ISI dropped their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Melius Research restated a “hold” rating and set a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Finally, Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research note on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $366.05.

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.