Teacher Retirement System of Texas Grows Stock Holdings in Eaton Corporation, PLC (NYSE:ETN)

Teacher Retirement System of Texas boosted its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,574 shares of the industrial products company's stock after acquiring an additional 9,198 shares during the period. Teacher Retirement System of Texas' holdings in Eaton were worth $36,581,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital A Wealth Management LLC purchased a new stake in Eaton during the 4th quarter valued at about $26,000. Flagship Wealth Advisors LLC purchased a new stake in Eaton during the 4th quarter valued at about $27,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Eaton in the 4th quarter valued at approximately $33,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Eaton in the 4th quarter valued at approximately $33,000. Finally, Creative Financial Designs Inc. ADV grew its stake in shares of Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Barclays increased their price target on shares of Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a research note on Monday, June 9th. Wall Street Zen raised shares of Eaton from a "hold" rating to a "buy" rating in a research note on Saturday. Morgan Stanley dropped their price target on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. increased their price target 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. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $369.06.

Insider Activity at Eaton

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

Eaton Stock Up 1.1%

ETN stock traded up $3.79 during midday trading on Friday, hitting $361.98. The company's stock had a trading volume of 1,088,135 shares, compared to its average volume of 2,668,688. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $379.99. The firm has a market capitalization of $141.64 billion, a P/E ratio of 36.53, a PEG ratio of 2.73 and a beta of 1.17. The firm has a 50-day simple moving average of $326.36 and a 200-day simple moving average of $312.63.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results 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. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The company had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter last year, the company posted $2.40 EPS. The firm's revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.15%. Eaton's dividend payout ratio is presently 41.98%.

Eaton 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.