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

Teachers Retirement System of The State of Kentucky purchased a new stake in Eaton Co. plc (NYSE:ETN – Get Rating) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 37,882 shares of the industrial products company’s stock, valued at approximately $5,052,000.

Other institutional investors have also modified their holdings of the company. TimeScale Financial Inc. boosted its holdings in shares of Eaton by 102.5% in the 3rd quarter. TimeScale Financial Inc. now owns 243 shares of the industrial products company’s stock valued at $32,000 after buying an additional 123 shares in the last quarter. Ten Capital Wealth Advisors LLC acquired a new stake in Eaton in the 3rd quarter worth approximately $32,000. Alpha Paradigm Partners LLC acquired a new stake in Eaton in the 2nd quarter worth approximately $31,000. Karp Capital Management Corp acquired a new stake in Eaton in the 3rd quarter worth approximately $39,000. Finally, Kistler Tiffany Companies LLC boosted its stake in Eaton by 134.0% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 351 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 201 shares in the last quarter. 80.19% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Brian S. Brickhouse sold 21,347 shares of Eaton stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $176.97, for a total value of $3,777,778.59. Following the sale, the insider now owns 15,905 shares of the company’s stock, valued at approximately $2,814,707.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Brian S. Brickhouse sold 21,347 shares of Eaton stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $176.97, for a total value of $3,777,778.59. Following the sale, the insider now owns 15,905 shares of the company’s stock, valued at approximately $2,814,707.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joao V. Faria sold 2,000 shares of Eaton stock in a transaction on Friday, February 10th. The shares were sold at an average price of $169.00, for a total transaction of $338,000.00. Following the completion of the sale, the insider now directly owns 67,166 shares in the company, valued at approximately $11,351,054. The disclosure for this sale can be found here. Insiders sold a total of 33,377 shares of company stock valued at $5,864,193 in the last three months. 0.56% of the stock is currently owned by corporate insiders.

Eaton Price Performance

NYSE:ETN opened at $160.15 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.38 and a quick ratio of 0.84. The firm has a market cap of $63.74 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 1.76 and a beta of 1.13. The company has a 50 day moving average price of $167.27 and a 200-day moving average price of $156.08. Eaton Co. plc has a 1-year low of $122.50 and a 1-year high of $178.75.

Eaton (NYSE:ETN – Get Rating) last posted its earnings results on Wednesday, February 8th. The industrial products company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.01. The firm had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.34 billion. Eaton had a net margin of 11.86% and a return on equity of 18.31%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.72 EPS. Equities research analysts forecast that Eaton Co. plc will post 8.24 EPS for the current year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Monday, March 6th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.15%. This is a positive change from Eaton’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Friday, March 3rd. Eaton’s payout ratio is 55.94%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ETN. Barclays lifted their target price on shares of Eaton from $130.00 to $148.00 and gave the stock an “underweight” rating in a research note on Thursday, February 9th. Royal Bank of Canada lifted their target price on shares of Eaton from $149.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 9th. Wells Fargo & Company lifted their target price on shares of Eaton from $169.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 9th. Bank of America lifted their target price on shares of Eaton from $180.00 to $200.00 in a research note on Wednesday, March 8th. Finally, StockNews.com began coverage on shares of Eaton in a research report on Thursday. They set a “strong-buy” rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $173.00.

Eaton Company Profile

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Eaton Corp. Plc is a power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: Electrical Americas and Electrical Global, Aerospace, Vehicle, and eMobility. The Electrical Americas and Electrical Global segments engage in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service.