Eaton Co. plc (NYSE:ETN) Insider Ernest W. Marshall, Jr. Sells 1,412 Shares

Eaton Co. plc (NYSE:ETN) insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Eaton Trading Up 0.1 %

Shares of ETN stock opened at $377.23 on Wednesday. Eaton Co. plc has a 1 year low of $224.52 and a 1 year high of $379.99. The firm has a fifty day moving average price of $345.46 and a 200-day moving average price of $323.55. The company has a market cap of $149.08 billion, a price-to-earnings ratio of 40.13, a PEG ratio of 2.99 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business 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 quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.47 earnings per share. As a group, equities analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.00%. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Eaton by 253.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after acquiring an additional 1,629,856 shares during the period. International Assets Investment Management LLC raised its stake in Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after purchasing an additional 1,070,024 shares during the period. Swedbank AB bought a new position in Eaton in the 2nd quarter worth approximately $225,974,000. Assenagon Asset Management S.A. grew its holdings in Eaton by 1,604.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock valued at $211,201,000 after buying an additional 634,059 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after buying an additional 597,700 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the subject of several recent analyst reports. Bank of America lifted their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Raymond James lowered their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Citigroup started coverage on Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Mizuho increased their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Morgan Stanley started coverage on Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective for the company. 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $357.83.

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.