Teacher Retirement System of Texas Has $36.58 Million Holdings in Eaton Corporation, PLC (NYSE:ETN)

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

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Founders Financial Alliance LLC raised its holdings in Eaton by 0.7% during the fourth quarter. Founders Financial Alliance LLC now owns 5,415 shares of the industrial products company's stock worth $1,797,000 after purchasing an additional 35 shares in the last quarter. Sound View Wealth Advisors Group LLC raised its holdings in Eaton by 1.1% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 3,587 shares of the industrial products company's stock worth $1,190,000 after purchasing an additional 38 shares in the last quarter. Lantern Wealth Advisors LLC raised its holdings in Eaton by 1.0% during the fourth quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock worth $1,340,000 after purchasing an additional 38 shares in the last quarter. AGH Wealth Advisors LLC raised its holdings in Eaton by 2.6% during the first quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock worth $412,000 after purchasing an additional 38 shares in the last quarter. Finally, Revolve Wealth Partners LLC raised its holdings in Eaton by 4.2% during the first quarter. Revolve Wealth Partners LLC now owns 951 shares of the industrial products company's stock worth $259,000 after purchasing an additional 38 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Trading Down 1.0%

NYSE ETN traded down $3.55 on Monday, hitting $358.67. 1,800,538 shares of the stock were exchanged, compared to its average volume of 2,665,217. The company's 50-day moving average price is $327.78 and its two-hundred day moving average price is $312.77. The company has a market capitalization of $140.35 billion, a price-to-earnings ratio of 36.19, a P/E/G ratio of 2.73 and a beta of 1.17. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $379.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84.

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

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio (DPR) is currently 41.98%.

Insiders Place Their Bets

In related 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 value of $629,364.40. Following the completion of the sale, the insider 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 this link. Also, insider Craig Arnold sold 103,486 shares of Eaton 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 approximately $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock valued at $49,622,894 in the last three months. Company insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ETN shares. Barclays boosted their target price on Eaton from $306.00 to $323.00 and gave the stock an "equal weight" rating in a report on Monday, June 9th. KeyCorp lifted their price target on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Evercore ISI lifted their price target on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Royal Bank Of Canada lifted their price target on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Finally, BNP Paribas Exane initiated coverage on shares of Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target on the stock. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Eaton has a consensus rating of "Moderate Buy" and a consensus target price of $369.06.

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.