Dorothy C. Thompson Acquires 2,205 Shares of Eaton Co. plc (NYSE:ETN) Stock

Eaton Co. plc (NYSE:ETN) Director Dorothy C. Thompson acquired 2,205 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Eaton Trading Down 1.1 %

NYSE:ETN traded down $3.07 on Thursday, hitting $285.70. 1,930,590 shares of the stock were exchanged, compared to its average volume of 2,172,477. The stock has a market capitalization of $114.22 billion, a price-to-earnings ratio of 33.81, a P/E/G ratio of 2.35 and a beta of 1.02. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $345.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The company’s 50-day moving average price is $303.62 and its 200 day moving average price is $311.06.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.12. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. On average, equities research analysts forecast that Eaton Co. plc will post 10.74 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.94 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.32%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Institutional Trading of Eaton

A number of institutional investors and hedge funds have recently modified their holdings of ETN. Legacy Capital Group California Inc. raised its position in shares of Eaton by 1.2% in the 2nd quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock worth $870,000 after acquiring an additional 32 shares in the last quarter. Well Done LLC increased its position in Eaton by 1.3% during the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after buying an additional 33 shares in the last quarter. Verdence Capital Advisors LLC increased its position in Eaton by 1.7% during the 1st quarter. Verdence Capital Advisors LLC now owns 2,059 shares of the industrial products company’s stock valued at $644,000 after buying an additional 34 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in Eaton by 1.7% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,053 shares of the industrial products company’s stock valued at $644,000 after buying an additional 35 shares in the last quarter. Finally, Front Row Advisors LLC increased its position in Eaton by 0.4% during the 2nd quarter. Front Row Advisors LLC now owns 7,842 shares of the industrial products company’s stock valued at $2,459,000 after buying an additional 35 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ETN. Barclays lifted their price target on shares of Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Royal Bank of Canada dropped their target price on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Evercore ISI dropped their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Raymond James started coverage on shares of Eaton in a research report on Friday, June 28th. They set an “outperform” rating and a $375.00 target price on the stock. Finally, Jefferies Financial Group lifted their price target on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $328.00.

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.