Eaton Corp. PLC (ETN) Insider Richard H. Fearon Sells 20,000 Shares
Eaton Corp. PLC (NYSE:ETN) insider Richard H. Fearon sold 20,000 shares of Eaton Corp. PLC stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $68.11, for a total value of $1,362,200.00. Following the completion of the transaction, the insider now owns 254,856 shares in the company, valued at $17,358,242.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Eaton Corp. PLC (NYSE:ETN) opened at 67.06 on Tuesday. The firm’s 50 day moving average is $63.73 and its 200 day moving average is $63.32. The company has a market cap of $30.29 billion, a PE ratio of 15.85 and a beta of 1.36. Eaton Corp. PLC has a 12 month low of $46.19 and a 12 month high of $68.95.
Eaton Corp. PLC (NYSE:ETN) last announced its earnings results on Tuesday, November 1st. The company reported $1.15 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.15. Eaton Corp. PLC had a net margin of 9.78% and a return on equity of 12.73%. The company had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period last year, the firm earned $0.96 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities analysts predict that Eaton Corp. PLC will post $4.20 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Monday, November 7th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $2.28 annualized dividend and a dividend yield of 3.40%. Eaton Corp. PLC’s dividend payout ratio is presently 53.65%.
ETN has been the topic of a number of recent analyst reports. Royal Bank Of Canada dropped their price objective on Eaton Corp. PLC from $68.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 2nd. Zacks Investment Research lowered Eaton Corp. PLC from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Argus upgraded Eaton Corp. PLC from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, August 10th. They noted that the move was a valuation call. Barclays PLC boosted their price target on Eaton Corp. PLC from $67.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 3rd. Finally, Jefferies Group restated a “hold” rating on shares of Eaton Corp. PLC in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $64.37.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Woodmont Investment Counsel LLC purchased a new position in shares of Eaton Corp. PLC during the third quarter worth about $108,000. Physicians Financial Services Inc. boosted its position in shares of Eaton Corp. PLC by 111.7% in the second quarter. Physicians Financial Services Inc. now owns 1,706 shares of the company’s stock worth $102,000 after buying an additional 900 shares during the period. Penserra Capital Management LLC boosted its position in shares of Eaton Corp. PLC by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,800 shares of the company’s stock worth $118,000 after buying an additional 900 shares during the period. Kistler Tiffany Companies LLC boosted its position in shares of Eaton Corp. PLC by 2.8% in the second quarter. Kistler Tiffany Companies LLC now owns 1,809 shares of the company’s stock worth $108,000 after buying an additional 49 shares during the period. Finally, Ropes Wealth Advisors LLC boosted its position in shares of Eaton Corp. PLC by 1.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,863 shares of the company’s stock worth $111,000 after buying an additional 22 shares during the period. 73.75% of the stock is currently owned by institutional investors.
Eaton Corp. PLC Company Profile
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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