Eaton Co. plc (NYSE:ETN) Insider Michael Yelton Sells 3,136 Shares of Stock

Eaton Co. plc (NYSE:ETN) insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Eaton Price Performance

Shares of ETN opened at $307.02 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.05. The company has a market cap of $122.75 billion, a P/E ratio of 36.25, a PEG ratio of 2.47 and a beta of 1.02. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $345.19. The stock has a fifty day moving average price of $305.37 and a 200 day moving average price of $310.17.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. On average, research analysts forecast that Eaton Co. plc will post 10.66 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.22%. Eaton’s dividend payout ratio is presently 44.39%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. HSBC upped their price target on Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Jefferies Financial Group upped their price objective on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Evercore ISI dropped 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. Raymond James initiated coverage on Eaton in a research note on Friday, June 28th. They set an “outperform” rating and a $375.00 price objective for the company. Finally, Barclays increased their target price on Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $328.00.

Institutional Trading of Eaton

Large investors have recently added to or reduced their stakes in the business. Legacy Capital Group California Inc. boosted its holdings in 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 valued at $870,000 after purchasing an additional 32 shares during the period. Well Done LLC raised its position in shares of Eaton by 1.3% during the second 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 during the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Eaton by 1.7% in the first 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 during the period. J.W. Cole Advisors Inc. grew its position in Eaton by 1.7% during the second quarter. J.W. Cole Advisors Inc. now owns 2,053 shares of the industrial products company’s stock worth $644,000 after buying an additional 35 shares in the last quarter. Finally, Front Row Advisors LLC increased its stake in Eaton by 0.4% during the second quarter. Front Row Advisors LLC now owns 7,842 shares of the industrial products company’s stock valued at $2,459,000 after acquiring an additional 35 shares during the period. 82.97% of the stock is currently 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.