Teachers Retirement System of The State of Kentucky Trims Position in Eaton Co. plc (NYSE:ETN)

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 5.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,190 shares of the industrial products company's stock after selling 3,205 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Eaton were worth $19,950,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Sunbelt Securities Inc. boosted its position in Eaton by 9.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,572 shares of the industrial products company's stock valued at $852,000 after buying an additional 225 shares during the period. Brown Financial Advisors bought a new stake in shares of Eaton during the third quarter valued at approximately $1,001,000. Coldstream Capital Management Inc. boosted its holdings in shares of Eaton by 19.5% in the third quarter. Coldstream Capital Management Inc. now owns 10,828 shares of the industrial products company's stock valued at $3,615,000 after purchasing an additional 1,770 shares during the period. Orion Capital Management LLC grew its stake in Eaton by 4.3% in the third quarter. Orion Capital Management LLC now owns 2,423 shares of the industrial products company's stock worth $803,000 after purchasing an additional 100 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Eaton by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company's stock worth $2,665,342,000 after purchasing an additional 56,516 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Craig Arnold sold 61,569 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,981 shares of company stock valued at $24,100,317. 0.53% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on ETN. Barclays upped their target price on Eaton from $320.00 to $353.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Wells Fargo & Company upped their target price on Eaton from $315.00 to $342.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Royal Bank of Canada reissued an "outperform" rating and issued a $374.00 price target on shares of Eaton in a report on Friday, November 1st. 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 on the stock. Finally, Wolfe Research upgraded shares of Eaton from an "underperform" rating to a "peer perform" rating in a research note on Friday, September 6th. Four 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, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $367.83.

Eaton Stock Performance

Eaton stock traded down $3.21 during midday trading on Thursday, hitting $358.71. 1,222,581 shares of the company were exchanged, compared to its average volume of 2,086,222. The business has a fifty day simple moving average of $354.70 and a two-hundred day simple moving average of $326.37. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The firm has a market capitalization of $141.76 billion, a PE ratio of 38.16, a price-to-earnings-growth ratio of 2.81 and a beta of 1.03. Eaton Co. plc has a fifty-two week low of $231.84 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter last year, the company earned $2.47 EPS. The business's revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.05%. Eaton's dividend payout ratio is presently 40.00%.

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.