Insider Selling: Eaton Co. PLC (NYSE:ETN) Insider Sells 80,592 Shares of Stock

Eaton Co. PLC (NYSE:ETN) insider Richard H. Fearon sold 80,592 shares of Eaton stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $82.75, for a total value of $6,668,988.00. Following the transaction, the insider now directly owns 270,097 shares in the company, valued at approximately $22,350,526.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Eaton stock traded down $1.78 during mid-day trading on Friday, reaching $76.59. 3,884,795 shares of the company’s stock were exchanged, compared to its average volume of 2,576,972. The business’s fifty day simple moving average is $79.76 and its 200 day simple moving average is $80.27. The firm has a market capitalization of $32.92 billion, a PE ratio of 14.21, a P/E/G ratio of 1.52 and a beta of 1.44. Eaton Co. PLC has a one year low of $64.46 and a one year high of $89.46. The company has a quick ratio of 1.18, a current ratio of 1.83 and a debt-to-equity ratio of 0.51.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $1.53 EPS for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.02. The business had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.63 billion. Eaton had a return on equity of 14.88% and a net margin of 10.16%. Eaton’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company posted $1.39 earnings per share. On average, sell-side analysts forecast that Eaton Co. PLC will post 5.87 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were paid a $0.71 dividend. The ex-dividend date was Thursday, August 1st. This represents a $2.84 annualized dividend and a dividend yield of 3.71%. Eaton’s payout ratio is presently 52.69%.

Several institutional investors and hedge funds have recently modified their holdings of the business. Comerica Securities Inc. grew its position in shares of Eaton by 7.6% during the 4th quarter. Comerica Securities Inc. now owns 5,112 shares of the industrial products company’s stock worth $351,000 after buying an additional 361 shares during the period. Geode Capital Management LLC raised its stake in shares of Eaton by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 5,457,569 shares of the industrial products company’s stock worth $374,165,000 after purchasing an additional 288,837 shares in the last quarter. Actinver Wealth Management Inc. bought a new stake in shares of Eaton during the 4th quarter worth approximately $251,000. First Hawaiian Bank raised its stake in shares of Eaton by 20.5% during the 1st quarter. First Hawaiian Bank now owns 11,245 shares of the industrial products company’s stock worth $906,000 after purchasing an additional 1,915 shares in the last quarter. Finally, Fulton Bank N.A. raised its stake in shares of Eaton by 21.7% during the 1st quarter. Fulton Bank N.A. now owns 5,108 shares of the industrial products company’s stock worth $411,000 after purchasing an additional 912 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Several research analysts recently issued reports on ETN shares. Royal Bank of Canada set a $84.00 target price on Eaton and gave the company a “hold” rating in a research report on Wednesday, July 31st. Barclays reaffirmed a “sell” rating and set a $76.00 target price on shares of Eaton in a research report on Thursday, June 6th. Deutsche Bank set a $96.00 target price on Eaton and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley lifted their price target on Eaton from $88.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $88.55.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

Further Reading: What is the Ex-Dividend Date in Investing?

Insider Buying and Selling by Quarter for Eaton (NYSE:ETN)

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