Kentucky Retirement Systems Insurance Trust Fund Has $3.91 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in shares of Eaton Co. plc (NYSE:ETN) by 8.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,787 shares of the industrial products company’s stock after selling 1,108 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Eaton were worth $3,907,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Breakwater Investment Management boosted its position in Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares during the period. Proffitt & Goodson Inc. bought a new position in Eaton during the 2nd quarter worth approximately $29,000. LGT Financial Advisors LLC bought a new stake in Eaton during the 2nd quarter valued at $33,000. West Financial Advisors LLC bought a new stake in shares of Eaton in the 3rd quarter worth approximately $35,000. Finally, DiNuzzo Private Wealth Inc. bought a new position in Eaton in the 2nd quarter worth $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ETN shares. Mizuho lifted their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Royal Bank of Canada restated an “outperform” rating and set a $374.00 target price on shares of Eaton in a research report on Friday, November 1st. Barclays reduced their price objective on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and raised their target price for the company from $333.00 to $389.00 in a research note on Wednesday. Finally, Raymond James lowered their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

Insider Buying and Selling at Eaton

In other news, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were bought at an average price of $298.97 per share, with a total value of $149,485.00. Following the purchase, the director now owns 500 shares of the company’s stock, valued at approximately $149,485. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,705 shares of company stock worth $24,516,346 over the last ninety days. Company insiders own 0.53% of the company’s stock.

Eaton Trading Down 0.8 %

Shares of Eaton stock opened at $358.99 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The firm has a market cap of $141.87 billion, a PE ratio of 38.19, a P/E/G ratio of 2.96 and a beta of 1.01. The business’s fifty day moving average is $335.82 and its two-hundred day moving average is $321.35. Eaton Co. plc has a fifty-two week low of $224.52 and a fifty-two week high of $373.49.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.47 EPS. Analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.05%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

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.