Kentucky Retirement Systems Cuts Stake in Eaton Co. plc (NYSE:ETN)

Kentucky Retirement Systems reduced its position in Eaton Co. plc (NYSE:ETN) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,357 shares of the industrial products company’s stock after selling 377 shares during the quarter. Kentucky Retirement Systems’ holdings in Eaton were worth $9,079,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. One Day In July LLC purchased a new position in Eaton in the fourth quarter worth $396,000. Aspen Investment Management Inc lifted its stake in shares of Eaton by 3.4% during the fourth quarter. Aspen Investment Management Inc now owns 3,177 shares of the industrial products company’s stock worth $1,054,000 after buying an additional 104 shares during the period. Parcion Private Wealth LLC lifted its stake in shares of Eaton by 313.9% during the fourth quarter. Parcion Private Wealth LLC now owns 28,637 shares of the industrial products company’s stock worth $9,504,000 after buying an additional 21,719 shares during the period. Boston Financial Mangement LLC lifted its stake in shares of Eaton by 15.8% during the fourth quarter. Boston Financial Mangement LLC now owns 5,680 shares of the industrial products company’s stock worth $1,885,000 after buying an additional 775 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of Eaton by 0.3% during the fourth quarter. Concurrent Investment Advisors LLC now owns 19,251 shares of the industrial products company’s stock worth $6,389,000 after buying an additional 63 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the business’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 of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $534,554.96. Following the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

ETN has been the subject of several research reports. Wells Fargo & Company lowered their price objective on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research note on Tuesday, January 28th. Jefferies Financial Group lifted their price objective 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. Mizuho lifted their price objective 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. Finally, Royal Bank of Canada decreased their target price on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $366.05.

Eaton Stock Down 0.2 %

ETN opened at $308.95 on Friday. The stock has a market capitalization 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 fifty day moving average of $333.15 and a two-hundred day moving average of $331.88. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN) last released its earnings results 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 quarter in the previous year, the company earned $2.55 earnings per share. On average, research analysts expect that Eaton Co. plc will post 12.02 earnings per share 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.