Teacher Retirement System of Texas Has $41.61 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Teacher Retirement System of Texas raised its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,376 shares of the industrial products company's stock after purchasing an additional 5,152 shares during the period. Teacher Retirement System of Texas' holdings in Eaton were worth $41,609,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. lifted its stake in shares of Eaton by 48.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company's stock valued at $13,533,000 after buying an additional 13,497 shares during the period. Lighthouse Wealth Management Inc. bought a new stake in shares of Eaton in the 4th quarter worth approximately $297,000. Webster Bank N. A. lifted its position in shares of Eaton by 52.4% in the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company's stock worth $5,949,000 after acquiring an additional 6,166 shares during the period. Ballentine Partners LLC grew its holdings in shares of Eaton by 9.3% during the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company's stock worth $3,072,000 after purchasing an additional 790 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Eaton by 13.2% in the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company's stock valued at $4,804,000 after purchasing an additional 1,694 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research firms have weighed in on ETN. Evercore ISI decreased their price target on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company decreased their target price on shares of Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 5th. StockNews.com lowered shares of Eaton from a "buy" rating to a "hold" rating in a research report on Friday. Royal Bank of Canada decreased their price objective on Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Finally, Citigroup dropped their target price on Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a report on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and a consensus price target of $357.68.

Eaton Stock Down 0.9 %

Eaton stock traded down $2.73 during mid-day trading on Tuesday, reaching $300.11. The company's stock had a trading volume of 3,393,961 shares, compared to its average volume of 2,406,297. The business's 50 day simple moving average is $310.56 and its 200 day simple moving average is $331.79. 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 12 month low of $255.65 and a 12 month high of $379.99. The company has a market capitalization of $117.57 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate 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 last year, the firm posted $2.55 EPS. As a group, research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given a $1.04 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.39%. This is a boost from Eaton's previous quarterly dividend of $0.94. Eaton's dividend payout ratio (DPR) is presently 43.79%.

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.