Eaton Co. plc (NYSE:ETN) Stock Holdings Lessened by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its stake in Eaton Co. plc (NYSE:ETN) by 7.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 316,549 shares of the industrial products company’s stock after selling 24,364 shares during the period. New York State Teachers Retirement System’s holdings in Eaton were worth $105,053,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ETN. Wetzel Investment Advisors Inc. boosted its holdings in Eaton by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock worth $1,029,000 after purchasing an additional 28 shares in the last quarter. Fairfield Financial Advisors LTD boosted its holdings in Eaton by 16.2% in the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 30 shares in the last quarter. Westmount Partners LLC boosted its holdings in Eaton by 3.1% in the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 30 shares in the last quarter. Signal Advisors Wealth LLC boosted its holdings in Eaton by 3.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 30 shares in the last quarter. Finally, Lantz Financial LLC boosted its holdings in Eaton by 4.8% in the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN opened at $307.70 on Friday. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market capitalization of $121.60 billion, a PE ratio of 32.39, a PEG ratio of 2.37 and a beta of 1.05. The stock has a 50-day simple moving average of $339.72 and a 200-day simple moving average of $331.47.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate 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 company posted $2.55 EPS. On average, analysts predict that Eaton Co. plc will post 12.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ETN shares. Royal Bank of Canada decreased their price objective on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Barclays raised 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. UBS Group initiated coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Mizuho raised their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average target price of $369.20.

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.