Eaton Co. plc (NYSE:ETN) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its position in Eaton Co. plc (NYSE:ETN) by 17.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,395 shares of the industrial products company’s stock after selling 13,868 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Eaton were worth $19,877,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ETN. J. W. Coons Advisors LLC boosted its position in Eaton by 2.1% during the 4th quarter. J. W. Coons Advisors LLC now owns 12,979 shares of the industrial products company’s stock worth $3,126,000 after acquiring an additional 265 shares during the period. Rafferty Asset Management LLC boosted its stake in Eaton by 5.5% in the 4th quarter. Rafferty Asset Management LLC now owns 33,490 shares of the industrial products company’s stock worth $8,065,000 after purchasing an additional 1,757 shares during the period. Peapack Gladstone Financial Corp raised its position in Eaton by 1.8% during the fourth quarter. Peapack Gladstone Financial Corp now owns 13,317 shares of the industrial products company’s stock valued at $3,207,000 after buying an additional 233 shares during the period. CIBC Private Wealth Group LLC lifted its position in shares of Eaton by 16.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 22,696 shares of the industrial products company’s stock worth $5,466,000 after purchasing an additional 3,284 shares in the last quarter. Finally, Capital World Investors acquired a new position in shares of Eaton in the fourth quarter worth $181,411,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Karenann K. Terrell acquired 500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were acquired at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the transaction, the director now directly owns 500 shares in the company, valued at approximately $149,485. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karenann K. Terrell purchased 500 shares of Eaton stock in a transaction on Wednesday, August 21st. The shares were acquired at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the transaction, the director now directly owns 500 shares in the company, valued at approximately $149,485. The disclosure for this purchase can be found here. Insiders have sold 52,511 shares of company stock worth $15,809,326 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Eaton Trading Down 1.2 %

Shares of Eaton stock opened at $327.52 on Wednesday. The company has a 50 day simple moving average of $301.36 and a two-hundred day simple moving average of $314.25. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The firm has a market cap of $130.94 billion, a PE ratio of 38.67, a PEG ratio of 2.53 and a beta of 1.01.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s dividend payout ratio is 44.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ETN shares. Royal Bank of Canada dropped their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Barclays lifted their target price on Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Jefferies Financial Group upped their target price on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Evercore ISI cut their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Finally, Citigroup started coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price target on the stock. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $337.41.

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.