New York State Common Retirement Fund Sells 3,445 Shares of Eaton Corporation, PLC (NYSE:ETN)

New York State Common Retirement Fund decreased its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 0.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 656,153 shares of the industrial products company's stock after selling 3,445 shares during the quarter. New York State Common Retirement Fund owned 0.17% of Eaton worth $178,362,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Platform Technology Partners raised its holdings in Eaton by 44.6% in the 1st quarter. Platform Technology Partners now owns 1,679 shares of the industrial products company's stock valued at $456,000 after acquiring an additional 518 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Eaton by 0.6% during the first quarter. Arizona State Retirement System now owns 115,980 shares of the industrial products company's stock worth $31,527,000 after purchasing an additional 738 shares in the last quarter. Realta Investment Advisors boosted its position in Eaton by 39.9% in the 1st quarter. Realta Investment Advisors now owns 2,292 shares of the industrial products company's stock valued at $623,000 after buying an additional 654 shares during the last quarter. Kathmere Capital Management LLC boosted its position in Eaton by 15.2% in the 1st quarter. Kathmere Capital Management LLC now owns 1,255 shares of the industrial products company's stock valued at $341,000 after buying an additional 166 shares during the last quarter. Finally, Fort Sheridan Advisors LLC lifted its position in shares of Eaton by 52.1% during the first quarter. Fort Sheridan Advisors LLC now owns 2,070 shares of the industrial products company's stock worth $563,000 after purchasing an additional 709 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

Shares of NYSE ETN traded up $3.68 during midday trading on Tuesday, hitting $363.97. The company's stock had a trading volume of 1,067,282 shares, compared to its average volume of 2,661,934. The stock has a fifty day moving average price of $333.96 and a 200 day moving average price of $313.47. The firm has a market capitalization of $142.42 billion, a price-to-earnings ratio of 36.74, a P/E/G ratio of 2.72 and a beta of 1.17. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $379.99. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. Eaton's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.40 earnings per share. On average, research analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.14%. Eaton's dividend payout ratio is presently 41.98%.

Insider Buying and Selling

In other Eaton news, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the transaction, the insider owned 3,382 shares of the company's stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the completion of the sale, the insider directly owned 490,208 shares of the company's stock, valued at $158,214,632. This trade represents a 17.43% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 156,660 shares of company stock valued at $49,622,894. Corporate insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. BNP Paribas initiated coverage on shares of Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target on the stock. KeyCorp raised their price objective on shares of Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. The Goldman Sachs Group increased their target price on shares of Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada lifted their target price on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $377.89.

About Eaton

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.