Eaton Co. plc (NYSE:ETN) Shares Bought by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund raised its position in Eaton Co. plc (NYSE:ETN) by 42.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,803 shares of the industrial products company’s stock after acquiring an additional 5,016 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Eaton were worth $5,576,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ETN. Geode Capital Management LLC lifted its holdings in Eaton by 0.7% in the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after acquiring an additional 56,516 shares during the period. Franklin Resources Inc. lifted its stake in shares of Eaton by 15.1% in the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after purchasing an additional 316,830 shares during the period. Janus Henderson Group PLC boosted its holdings in Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after buying an additional 597,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Eaton by 253.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after buying an additional 1,629,856 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Eaton by 1.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,436,051 shares of the industrial products company’s stock valued at $476,582,000 after buying an additional 13,862 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory R. Page sold 10,000 shares of the 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 sale, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Eaton Trading Up 0.5 %

NYSE ETN opened at $309.21 on Tuesday. The company has a 50-day moving average of $337.21 and a 200-day moving average of $331.89. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The company has a market cap of $122.20 billion, a P/E ratio of 32.55, a P/E/G ratio of 2.37 and a beta of 1.05.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the prior year, the company earned $2.55 EPS. As a group, equities analysts predict that Eaton Co. plc will post 12.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ETN. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. Melius Research restated a “hold” rating and issued a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Wells Fargo & Company decreased their price objective on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. UBS Group assumed coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price for the company. Finally, Mizuho increased their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $369.20.

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.