Eaton Co. plc (NYSE:ETN) Holdings Reduced by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 659,598 shares of the industrial products company's stock after selling 18,180 shares during the period. New York State Common Retirement Fund owned 0.17% of Eaton worth $218,901,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. grew its stake in Eaton by 48.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company's stock worth $13,533,000 after acquiring an additional 13,497 shares during the period. Lighthouse Wealth Management Inc. purchased a new stake in Eaton in the 4th quarter worth approximately $297,000. Webster Bank N. A. grew its stake in Eaton by 52.4% in the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company's stock worth $5,949,000 after acquiring an additional 6,166 shares during the period. Ballentine Partners LLC grew its stake in Eaton by 9.3% in the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company's stock worth $3,072,000 after acquiring an additional 790 shares during the period. Finally, Blue Trust Inc. grew its stake in Eaton by 13.2% in the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company's stock worth $4,804,000 after acquiring an additional 1,694 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ETN has been the subject of several recent analyst reports. Mizuho lifted their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. UBS Group assumed coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a "buy" rating and a $431.00 price objective for the company. Royal Bank of Canada lowered their price objective 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. Barclays boosted their price objective on shares of Eaton from $320.00 to $353.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Finally, Citigroup lowered their price objective on shares of Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $366.05.

Insider Activity

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company's 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 sale, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the company's stock in a transaction dated 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 sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company's stock.

Eaton Stock Down 3.8 %

ETN stock traded down $11.71 during trading on Friday, reaching $297.11. The stock had a trading volume of 4,399,446 shares, 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 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 capitalization of $117.42 billion, a P/E ratio of 31.27, a PEG ratio of 2.65 and a beta of 1.05. The firm has a fifty day moving average price of $333.15 and a 200 day moving average price of $331.88.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS 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 period last year, the company posted $2.55 EPS. On average, equities analysts anticipate that Eaton Co. plc will post 12.02 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.