Eaton Co. plc (NYSE:ETN) Director Sells $82,510.35 in Stock

Eaton Co. plc (NYSE:ETN) Director Dorothy C. Thompson sold 285 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $289.51, for a total value of $82,510.35. Following the transaction, the director now owns 516 shares of the company’s stock, valued at approximately $149,387.16. This represents a 35.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Eaton Price Performance

Shares of NYSE:ETN opened at $346.54 on Friday. The company’s fifty day moving average is $354.32 and its two-hundred day moving average is $329.77. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12-month low of $236.20 and a 12-month high of $379.99. The company has a market cap of $136.95 billion, a P/E ratio of 36.87, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the business earned $2.47 EPS. The company’s revenue was up 7.9% on a year-over-year basis. Equities analysts expect that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.09%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

Institutional Trading of Eaton

Large investors have recently added to or reduced their stakes in the company. Edgestream Partners L.P. increased its stake in shares of Eaton by 98.5% in the second quarter. Edgestream Partners L.P. now owns 1,989 shares of the industrial products company’s stock worth $624,000 after acquiring an additional 987 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its stake in shares of Eaton by 81.8% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 16,686 shares of the industrial products company’s stock worth $5,232,000 after acquiring an additional 7,510 shares during the last quarter. SYSTM Wealth Solutions LLC increased its stake in shares of Eaton by 97.5% in the second quarter. SYSTM Wealth Solutions LLC now owns 2,246 shares of the industrial products company’s stock worth $704,000 after acquiring an additional 1,109 shares during the last quarter. Blair William & Co. IL boosted its holdings in Eaton by 5.1% in the second quarter. Blair William & Co. IL now owns 61,673 shares of the industrial products company’s stock worth $19,338,000 after purchasing an additional 2,999 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Eaton by 4.9% in the second quarter. Hsbc Holdings PLC now owns 393,020 shares of the industrial products company’s stock worth $123,596,000 after purchasing an additional 18,204 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ETN. Citigroup reduced their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company cut their target price on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and upped their target price for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Bank of America upped their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, UBS Group assumed coverage on Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $368.89.

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.