Insider Selling: Eaton Corp. PLC (ETN) Director Sells $835,380.00 in Stock
Eaton Corp. PLC (NYSE:ETN) Director Michael J. Critelli sold 13,000 shares of the stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $64.26, for a total value of $835,380.00. Following the sale, the director now directly owns 70,566 shares in the company, valued at approximately $4,534,571.16. The sale was disclosed in a document filed with the SEC, which is available at this link.
Eaton Corp. PLC (NYSE:ETN) opened at 67.06 on Tuesday. The firm’s 50 day moving average price is $63.73 and its 200-day moving average price is $63.32. Eaton Corp. PLC has a 1-year low of $46.19 and a 1-year high of $68.95. The stock has a market cap of $30.29 billion, a price-to-earnings ratio of 15.85 and a beta of 1.36.
Eaton Corp. PLC (NYSE:ETN) last issued its earnings results on Tuesday, November 1st. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. The firm earned $5 billion during the quarter, compared to the consensus estimate of $5.05 billion. Eaton Corp. PLC had a net margin of 9.78% and a return on equity of 12.73%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 earnings per share. On average, equities analysts anticipate that Eaton Corp. PLC will post $4.20 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Investors of record on Monday, November 7th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, November 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.40%. Eaton Corp. PLC’s payout ratio is currently 53.65%.
Several analysts have issued reports on ETN shares. Zacks Investment Research cut Eaton Corp. PLC from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. Argus raised Eaton Corp. PLC from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, August 10th. They noted that the move was a valuation call. HSBC started 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. 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. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Eaton Corp. PLC in a research report on Friday, August 5th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $64.37.
Several institutional investors have recently modified their holdings of the company. Alps Advisors Inc. increased its position in shares of Eaton Corp. PLC by 17.5% in the second quarter. Alps Advisors Inc. now owns 427,451 shares of the company’s stock worth $25,532,000 after buying an additional 63,571 shares during the last quarter. Hermes Investment Management Ltd. increased its position in shares of Eaton Corp. PLC by 19.6% in the second quarter. Hermes Investment Management Ltd. now owns 365,441 shares of the company’s stock worth $21,828,000 after buying an additional 59,900 shares during the last quarter. Capital One National Association increased its position in shares of Eaton Corp. PLC by 12.1% in the second quarter. Capital One National Association now owns 3,995 shares of the company’s stock worth $239,000 after buying an additional 431 shares during the last quarter. Seminole Management Co. Inc. purchased a new position in shares of Eaton Corp. PLC during the second quarter worth approximately $21,313,000. Finally, Boston Advisors LLC increased its position in shares of Eaton Corp. PLC by 7.7% in the second quarter. Boston Advisors LLC now owns 571,639 shares of the company’s stock worth $34,144,000 after buying an additional 41,073 shares during the last quarter. Hedge funds and other institutional investors own 73.75% of the company’s stock.
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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