Eaton Corp. PLC (ETN) Director Charles E. Golden Sells 14,626 Shares of Stock
Eaton Corp. PLC (NYSE:ETN) Director Charles E. Golden sold 14,626 shares of the business’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $67.96, for a total value of $993,982.96. Following the completion of the transaction, the director now directly owns 15,964 shares of the company’s stock, valued at $1,084,913.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Eaton Corp. PLC (NYSE:ETN) opened at 67.06 on Tuesday. Eaton Corp. PLC has a one year low of $46.19 and a one year high of $68.95. The firm has a market cap of $30.29 billion, a PE ratio of 15.85 and a beta of 1.36. The firm’s 50 day moving average price is $63.73 and its 200-day moving average price is $63.32.
Eaton Corp. PLC (NYSE:ETN) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $1.15 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.15. Eaton Corp. PLC had a return on equity of 12.73% and a net margin of 9.78%. The company had revenue of $5 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the previous year, the company earned $0.96 EPS. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. Equities analysts predict that Eaton Corp. PLC will post $4.20 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, November 7th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Thursday, November 3rd. Eaton Corp. PLC’s dividend payout ratio is presently 53.65%.
Large investors have recently made changes to their positions in the stock. Bayesian Capital Management LP acquired a new stake in shares of Eaton Corp. PLC during the first quarter worth $263,000. Envestnet Asset Management Inc. raised its stake in shares of Eaton Corp. PLC by 19.3% in the first quarter. Envestnet Asset Management Inc. now owns 90,674 shares of the company’s stock worth $5,673,000 after buying an additional 14,668 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Eaton Corp. PLC during the first quarter worth $1,266,000. Moore Capital Management LP raised its stake in shares of Eaton Corp. PLC by 369.3% in the first quarter. Moore Capital Management LP now owns 105,454 shares of the company’s stock worth $6,597,000 after buying an additional 82,982 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of Eaton Corp. PLC by 477.8% in the first quarter. Panagora Asset Management Inc. now owns 106,882 shares of the company’s stock worth $6,687,000 after buying an additional 88,383 shares in the last quarter. 73.75% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on the company. RBC Capital Markets reduced their target price on Eaton Corp. PLC from $68.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 2nd. Deutsche Bank AG reaffirmed a “hold” rating and set a $65.00 target price on shares of Eaton Corp. PLC in a research report on Thursday, August 25th. HSBC assumed coverage on Eaton Corp. PLC in a research report on Friday, October 7th. They set a “buy” rating and a $74.00 target price on the stock. Jefferies Group reaffirmed a “hold” rating on shares of Eaton Corp. PLC in a research report on Friday, August 5th. Finally, Barclays PLC upped their target price on Eaton Corp. PLC from $67.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $64.37.
About Eaton Corp. PLC
Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.
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