Teachers Retirement System of The State of Kentucky Sells 2,057 Shares of Eaton Co. plc (NYSE:ETN)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,133 shares of the industrial products company's stock after selling 2,057 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Eaton were worth $19,292,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Morse Asset Management Inc bought a new position in Eaton in the third quarter valued at approximately $33,000. Bard Financial Services Inc. bought a new position in shares of Eaton during the third quarter worth about $255,000. Advisory Resource Group lifted its stake in Eaton by 10.9% in the 3rd quarter. Advisory Resource Group now owns 4,358 shares of the industrial products company's stock valued at $1,444,000 after acquiring an additional 428 shares in the last quarter. Chelsea Counsel Co. grew its stake in shares of Eaton by 29.4% during the 3rd quarter. Chelsea Counsel Co. now owns 220 shares of the industrial products company's stock worth $73,000 after acquiring an additional 50 shares in the last quarter. Finally, Tudor Financial Inc. acquired a new position in Eaton during the third quarter worth $265,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Melius cut shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target on the stock. in a research report on Tuesday, January 28th. Wells Fargo & Company dropped their price objective on Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 5th. Royal Bank of Canada lowered their target price on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Jefferies Financial Group decreased their price objective on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Finally, KeyCorp lowered their price target on Eaton from $340.00 to $325.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $350.22.

Eaton Price Performance

Shares of NYSE ETN traded up $1.89 during mid-day trading on Friday, hitting $288.91. 2,177,149 shares of the stock traded hands, compared to its average volume of 2,628,251. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market cap of $113.19 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. The firm has a 50 day simple moving average of $282.03 and a two-hundred day simple moving average of $323.63.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS 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 in the prior year, the firm posted $2.55 EPS. As a group, equities research analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Monday, May 5th. Eaton's dividend payout ratio is currently 43.79%.

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.