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 trimmed its position in Eaton Co. plc (NYSE:ETN) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,133 shares of the industrial products company’s stock after selling 2,057 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Eaton were worth $19,292,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ETN shares. Barclays cut their price objective on Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a report on Friday, April 4th. 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 report on Wednesday, February 19th. Citigroup dropped their price objective on shares of Eaton from $396.00 to $323.00 and set a “buy” rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. reduced their target price on Eaton from $350.00 to $289.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Jefferies Financial Group cut their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.22.

Eaton Trading Down 0.4 %

Shares of ETN opened at $268.15 on Monday. The stock has a market capitalization of $105.05 billion, a P/E ratio of 28.23, a PEG 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 company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm has a fifty day simple moving average of $284.95 and a two-hundred day simple moving average of $325.21.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the firm earned $2.55 EPS. On average, research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Eaton’s previous quarterly dividend of $0.94. 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.