State of New Jersey Common Pension Fund D Has $48.91 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

State of New Jersey Common Pension Fund D decreased its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,373 shares of the industrial products company's stock after selling 977 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Eaton were worth $48,909,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in shares of Eaton by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company's stock worth $2,665,342,000 after purchasing an additional 56,516 shares during the last quarter. Franklin Resources Inc. grew its stake in Eaton by 15.1% during the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company's stock worth $836,938,000 after buying an additional 316,830 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of 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 raised its stake in shares of Eaton by 253.2% in 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 valued at $753,590,000 after acquiring an additional 1,629,856 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Eaton by 1.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,436,051 shares of the industrial products company's stock worth $476,582,000 after acquiring an additional 13,862 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Trading Down 0.2 %

NYSE ETN traded down $0.48 on Thursday, reaching $308.95. The company had a trading volume of 1,982,892 shares, compared to its average volume of 3,330,502. The stock's 50 day moving average is $334.15 and its 200-day moving average is $332.04. The stock has a market cap of $122.10 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 2.68 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 Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last released 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 return on equity of 22.62% and a net margin of 15.25%. During the same period in the prior year, the firm earned $2.55 earnings per share. Equities analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on ETN shares. Melius Research restated a "hold" rating and set a $373.00 target price on shares of Eaton in a 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 report on Monday, February 3rd. Jefferies Financial Group boosted their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Barclays raised their price target on shares of Eaton from $320.00 to $353.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Finally, Citigroup reduced their price objective on Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $366.05.

Insider Activity at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business'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 of the company's stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the company'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 directly owns 43,203 shares of the company's stock, valued at $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 currently owned by corporate insiders.

About Eaton

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.