Insider Selling: Eaton Co. plc (NYSE:ETN) Director Sells 4,000 Shares of Stock

Eaton Co. plc (NYSE:ETN) Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction 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 in the company, valued at $17,241,796.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Eaton Stock Down 1.2 %

Shares of NYSE:ETN traded down $3.87 on Monday, hitting $331.13. 1,943,164 shares of the company’s stock were exchanged, compared to its average volume of 2,106,192. The firm’s 50-day moving average is $323.09 and its 200 day moving average is $318.36. The company has a market capitalization of $131.82 billion, a PE ratio of 35.44, a P/E/G ratio of 2.53 and a beta of 1.01. Eaton Co. plc has a 1-year low of $211.99 and a 1-year high of $349.74. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.07 and a current ratio of 1.53.

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 analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.47 EPS. Sell-side analysts predict that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ETN. Morgan Stanley began coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective on the stock. Mizuho boosted their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays reduced their target price on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Friday. Raymond James reduced 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. Finally, Evercore ISI reduced their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $341.00.

Institutional Trading of Eaton

Large investors have recently made changes to their positions in the company. Breakwater Investment Management raised its stake in Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 78 shares during the last quarter. Proffitt & Goodson Inc. purchased a new stake in Eaton during the 2nd quarter valued at approximately $29,000. LGT Financial Advisors LLC purchased a new stake in Eaton during the 2nd quarter valued at approximately $33,000. West Financial Advisors LLC purchased a new position in shares of Eaton during the 3rd quarter worth approximately $35,000. Finally, DT Investment Partners LLC purchased a new position in shares of Eaton during the 3rd quarter worth approximately $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

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.