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

Retirement Systems of Alabama grew its position in shares of Eaton Co. plc (NYSE:ETN) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 222,024 shares of the industrial products company’s stock after purchasing an additional 920 shares during the quarter. Retirement Systems of Alabama owned approximately 0.06% of Eaton worth $73,683,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Horizon Bancorp Inc. IN increased its position in shares of Eaton by 321.7% during the 4th 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 last quarter. Morse Asset Management Inc bought a new position in Eaton during the 3rd quarter worth approximately $33,000. West Financial Advisors LLC bought a new position in Eaton during the 3rd quarter worth approximately $35,000. DT Investment Partners LLC bought a new position in Eaton during the 3rd quarter worth approximately $37,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Eaton during the 3rd quarter worth approximately $44,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Down 0.1 %

Shares of NYSE:ETN opened at $315.21 on Wednesday. The stock has a fifty day simple moving average of $348.01 and a two-hundred day simple moving average of $331.26. The stock has a market capitalization of $124.57 billion, a price-to-earnings ratio of 33.18, a PEG ratio of 2.27 and a beta of 1.05. Eaton Co. plc has a 12-month low of $255.65 and a 12-month 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.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (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 earnings per share. On average, research analysts anticipate that Eaton Co. plc will post 12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction on 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 sale, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction 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 sale, the director now directly 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. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the topic of several recent research reports. Jefferies Financial Group raised their price target on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Melius Research restated a “hold” rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Mizuho increased their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. UBS Group assumed coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Finally, Barclays increased their price objective on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $369.20.

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.