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

Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 42.6% in the fourth quarter, Holdings Channel.com reports. 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment grew its stake in shares of Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN grew its stake in Eaton by 321.7% during the 4th 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 in the last quarter. Morse Asset Management Inc purchased a new stake in Eaton during the 3rd quarter worth approximately $33,000. Activest Wealth Management raised its position in shares of Eaton by 621.4% in 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 in the last quarter. Finally, DT Investment Partners LLC purchased a new position in shares of Eaton during the 3rd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares in the company, valued at $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now 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. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Royal Bank of Canada dropped their price target on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Sanford C. Bernstein began coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. UBS Group started coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Bank of America upped their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $369.20.

Eaton Trading Up 0.5 %

Eaton stock opened at $309.21 on Tuesday. The firm has a 50-day moving average price of $337.21 and a two-hundred day moving average price of $331.89. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The firm has a market capitalization of $122.20 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 2.37 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 (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping 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 period last year, the business posted $2.55 earnings per share. Sell-side analysts expect that Eaton Co. plc will post 12.04 earnings per share for the current year.

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.