Retirement Systems of Alabama Purchases 920 Shares of Eaton Co. plc (NYSE:ETN)

Retirement Systems of Alabama raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 222,024 shares of the industrial products company’s stock after purchasing an additional 920 shares during the period. Retirement Systems of Alabama’s holdings in Eaton were worth $73,683,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Horizon Bancorp Inc. IN grew its holdings in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc bought a new stake in Eaton during the third quarter valued at about $33,000. West Financial Advisors LLC bought a new stake in Eaton during the third quarter valued at about $35,000. DT Investment Partners LLC bought a new stake in Eaton during the third quarter valued at about $37,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in Eaton during the third quarter valued at about $44,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now directly 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. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on ETN shares. Mizuho boosted their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Sanford C. Bernstein assumed coverage on Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective on the stock. Bank of America boosted their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Citigroup lowered their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Barclays boosted their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $369.20.

Eaton Trading Down 0.1 %

Shares of NYSE ETN opened at $315.21 on Wednesday. The business’s 50 day moving average is $348.01 and its two-hundred day moving average is $331.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The stock has a market capitalization of $124.57 billion, a P/E ratio of 33.18, a PEG ratio of 2.27 and a beta of 1.05.

Eaton (NYSE:ETN) last released its earnings results 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 quarter in the previous year, the business earned $2.55 EPS. As a group, research analysts expect that Eaton Co. plc will post 12 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.