Eaton: Major Shareholder Stock Sales in Q3

Insiders are generally long-term investors due to restriction in making short-term profits. In contrast, wealth management institutions always have short-term investment. Wall St. Watchdog reveals information regarding the insiders and institutions which recently decreased stock shares of Eaton Corporation (NYSE:ETN).

SEC data indicate these insiders have sold Eaton Corporation’s stock since 06/30/2011:

  • Mcgill James W: act as EVP – Human Resources. On 10/28/2011, sold 16,000 shares, worth $740,000.
  • Mccoy Deborah L: act as Director. On 11/30/2011, sold 9,408 shares, worth $420,700.
  • Lautenbach Ned C: act as Director. On 11/09/2011, sold 3,419 shares, worth $152,700.

SEC data indicate that these institutions significantly reduced their stock shares of Eaton Corporation in Q3 2011:

  • RENAISSANCE GROUP LLC: On 06/30/2011, held 1,254,383 shares, worth $63,572,130. On 09/30/2011, held 0 shares.
  • GREAT LAKES ADVISORS INC: On 06/30/2011, held 1,002,683 shares, worth $50,815,974. On 09/30/2011, held 0 shares.
  • MAVERICK CAPITAL LTD: On 06/30/2011, held 997,815 shares, worth $50,569,264. On 09/30/2011, held 0 shares.
  • COBALT CAPITAL MANAGEMENT INC: On 06/30/2011, held 976,154 shares, worth $49,471,485. On 09/30/2011, held 0 shares.
  • VINIK ASSET MANAGEMENT L P: On 06/30/2011, held 732,100 shares, worth $37,102,828. On 09/30/2011, held 0 shares.

About the company: Eaton Corporation manufactures engineered products which serve industrial, vehicle, construction, commercial, and aerospace markets. The Company’s principal products include hydraulic products and fluid connectors, electrical power distribution and control equipment, truck drivetrain systems, engine components, and a wide variety of controls.

Competitors to Watch: Parker-Hannifin Corp. (NYSE:PH), Magnetek, Inc. (NYSE:MAG), Tech/Ops Sevcon, Inc. (NASDAQ:TO), United Technologies Corp. (NYSE:UTX), General Electric Company (NYSE:GE), Sauer-Danfoss Inc. (NYSE:SHS), Dover Corporation (NYSE:DOV), Thomas & Betts Corporation (NYSE:TNB), Roper Industries, Inc. (NYSE:ROP), and Crane Co. (NYSE:CR).

(Note: Data regarding Eaton Corporation’s stock holdings are sourced from All data are assumed to be accurate.)

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