Kentucky Retirement Systems Insurance Trust Fund Grows Position in Eaton Co. plc (NYSE:ETN)

Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 42.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,803 shares of the industrial products company's stock after acquiring an additional 5,016 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Eaton were worth $5,576,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ETN. Resonant Capital Advisors LLC raised its holdings in shares of Eaton by 2.3% during the third quarter. Resonant Capital Advisors LLC now owns 1,914 shares of the industrial products company's stock valued at $634,000 after acquiring an additional 43 shares in the last quarter. Cyndeo Wealth Partners LLC purchased a new stake in Eaton in the third quarter worth $417,000. Allspring Global Investments Holdings LLC grew its stake in Eaton by 19.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 157,615 shares of the industrial products company's stock worth $52,240,000 after purchasing an additional 25,843 shares during the period. Godsey & Gibb Inc. grew its stake in Eaton by 2.3% in the third quarter. Godsey & Gibb Inc. now owns 79,066 shares of the industrial products company's stock worth $26,206,000 after purchasing an additional 1,793 shares during the period. Finally, 1858 Wealth Management LLC grew its stake in Eaton by 65.4% in the third quarter. 1858 Wealth Management LLC now owns 2,018 shares of the industrial products company's stock worth $669,000 after purchasing an additional 798 shares during the period. Institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ETN. Citigroup reduced their price target on Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Barclays upped their price target on Eaton from $320.00 to $353.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 5th. Wells Fargo & Company reduced their price target on Eaton from $350.00 to $335.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Sanford C. Bernstein initiated coverage on Eaton in a research note on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 price target on the stock. Finally, Mizuho increased their target price on Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $366.05.

Insider Buying and Selling at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the transaction, the director now owns 43,203 shares of the company's stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was 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 directly owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Eaton Stock Performance

Shares of Eaton stock traded down $11.71 during trading on Friday, hitting $297.11. 4,399,446 shares of the company's stock traded hands, compared to its average volume of 3,361,916. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The business has a 50-day simple moving average of $331.97 and a 200-day simple moving average of $332.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The stock has a market capitalization of $117.42 billion, a P/E ratio of 31.27, a PEG ratio of 2.65 and a beta of 1.05.

Eaton (NYSE:ETN - Get Free Report) last posted its 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 period in the prior year, the business earned $2.55 EPS. As a group, analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

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.