Eaton Co. plc (NYSE:ETN) Director Sells $1,341,200.00 in Stock

Eaton Co. plc (NYSE:ETN) Director Gregory R. Page sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Eaton Trading Down 1.2 %

Shares of ETN traded down $3.87 during trading hours on Monday, hitting $331.13. The stock had a trading volume of 1,943,164 shares, compared to its average volume of 2,106,192. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.07 and a current ratio of 1.53. The firm has a market cap of $131.82 billion, a P/E ratio of 35.44, a P/E/G ratio of 2.53 and a beta of 1.01. The company’s fifty day simple moving average is $323.09 and its 200 day simple moving average is $318.36. Eaton Co. plc has a 12-month low of $211.99 and a 12-month high of $349.74.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period last year, the company posted $2.47 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. Equities research analysts forecast that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s payout ratio is 40.00%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ETN shares. Wells Fargo & Company raised their price objective on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Jefferies Financial Group increased their target price on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Raymond James lowered their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $374.00 target price on shares of Eaton in a report on Friday. Finally, Barclays lowered their target price on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a report on Friday. Four analysts have rated the stock with a hold rating and thirteen have assigned 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 $341.00.

Institutional Trading of Eaton

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Breakwater Investment Management grew its stake in Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares in the last quarter. Proffitt & Goodson Inc. acquired a new position in Eaton in the second quarter worth about $29,000. LGT Financial Advisors LLC acquired a new position in Eaton in the second quarter worth about $33,000. West Financial Advisors LLC acquired a new position in Eaton in the third quarter worth about $35,000. Finally, DT Investment Partners LLC acquired a new position in Eaton in the third quarter worth about $37,000. 82.97% of the stock is owned by hedge funds and other 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.