Eaton Co. plc (NYSE:ETN) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its position in Eaton Co. plc (NYSE:ETN) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,357 shares of the industrial products company’s stock after selling 377 shares during the quarter. Kentucky Retirement Systems’ holdings in Eaton were worth $9,079,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ETN. Foundations Investment Advisors LLC boosted its holdings in Eaton by 17.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,830 shares of the industrial products company’s stock valued at $607,000 after purchasing an additional 271 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Eaton by 16.7% in the 3rd quarter. Private Advisor Group LLC now owns 38,564 shares of the industrial products company’s stock valued at $12,782,000 after purchasing an additional 5,508 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in Eaton by 31.0% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 2,716 shares of the industrial products company’s stock valued at $901,000 after purchasing an additional 643 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after purchasing an additional 1,070,024 shares during the last quarter. Finally, YHB Investment Advisors Inc. lifted its holdings in shares of Eaton by 18.8% in the 3rd quarter. YHB Investment Advisors Inc. now owns 14,859 shares of the industrial products company’s stock worth $4,925,000 after acquiring an additional 2,351 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ETN. Citigroup decreased their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Jefferies Financial Group upped their price objective on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Barclays upped their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. 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 report on Monday, February 3rd. Finally, Sanford C. Bernstein began coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $366.05.

Eaton Trading Down 0.2 %

Shares of NYSE:ETN opened at $308.95 on Friday. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company’s 50 day moving average is $333.15 and its two-hundred day moving average is $331.88. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company has a market cap of $122.10 billion, a PE ratio of 32.52, a P/E/G ratio of 2.68 and a beta of 1.05.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 period in the prior year, the firm posted $2.55 EPS. Equities analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

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.