Ernest W. Marshall, Jr. Sells 1,412 Shares of Eaton Co. plc (NYSE:ETN) Stock

Eaton Co. plc (NYSE:ETN) insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Eaton Price Performance

Shares of NYSE ETN opened at $371.97 on Thursday. 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 company has a market capitalization of $147.00 billion, a PE ratio of 39.57, a P/E/G ratio of 2.99 and a beta of 1.01. The firm has a fifty day simple moving average of $346.61 and a 200 day simple moving average of $323.89. Eaton Co. plc has a twelve month low of $224.52 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.47 EPS. On average, sell-side analysts forecast that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors 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 1.01%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio is presently 40.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ETN shares. UBS Group began coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and raised their price objective for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Raymond James decreased their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Royal Bank of Canada restated an “outperform” rating and issued a $374.00 price target on shares of Eaton in a research note on Friday, November 1st. Finally, Mizuho upped their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $357.83.

Institutional Investors Weigh In On Eaton

Several hedge funds and other institutional investors have recently bought and sold shares of ETN. Franklin Resources Inc. grew its stake in shares of Eaton by 15.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after buying an additional 316,830 shares during the period. Peapack Gladstone Financial Corp increased its holdings in shares of Eaton by 0.5% during the third quarter. Peapack Gladstone Financial Corp now owns 15,621 shares of the industrial products company’s stock valued at $5,177,000 after acquiring an additional 71 shares in the last quarter. Synovus Financial Corp raised its position in shares of Eaton by 3.2% during the third quarter. Synovus Financial Corp now owns 42,032 shares of the industrial products company’s stock worth $13,931,000 after purchasing an additional 1,309 shares during the period. Castellan Group lifted its holdings in shares of Eaton by 6.2% in the 3rd quarter. Castellan Group now owns 8,898 shares of the industrial products company’s stock worth $2,949,000 after purchasing an additional 522 shares in the last quarter. Finally, Tidal Investments LLC grew its position in Eaton by 68.4% in the 3rd quarter. Tidal Investments LLC now owns 29,722 shares of the industrial products company’s stock valued at $9,851,000 after purchasing an additional 12,069 shares during the period. 82.97% of the stock is owned by institutional investors.

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.