Traders Buy Shares of Eaton Co., PLC (ETN) on Weakness on Insider Selling
Traders purchased shares of Eaton Co., PLC (NYSE:ETN) on weakness during trading on Monday following insider selling activity. $75.32 million flowed into the stock on the tick-up and $40.12 million flowed out of the stock on the tick-down, for a money net flow of $35.20 million into the stock. Of all companies tracked, Eaton Co., PLC had the 16th highest net in-flow for the day. Eaton Co., PLC traded down ($0.25) for the day and closed at $67.06Specifically, Director Dorothy C. Thompson bought 550 shares of the stock in a transaction dated Friday, August 19th. The shares were acquired at an average cost of $67.32 per share, for a total transaction of $37,026.00. Following the acquisition, the director now directly owns 550 shares in the company, valued at approximately $37,026. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Critelli sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $64.26, for a total value of $835,380.00. Following the transaction, the director now owns 70,566 shares in the company, valued at $4,534,571.16. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.
A number of research analysts recently commented on the company. Deutsche Bank AG reiterated a “hold” rating and issued a $65.00 price objective on shares of Eaton Co., PLC in a report on Thursday, August 25th. Argus upgraded Eaton Co., PLC from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, August 10th. They noted that the move was a valuation call. HSBC assumed coverage on Eaton Co., PLC in a report on Friday, October 7th. They issued a “buy” rating and a $74.00 price objective on the stock. Jefferies Group reiterated a “hold” rating on shares of Eaton Co., PLC in a report on Friday, August 5th. Finally, Barclays PLC upped their price objective on Eaton Co., PLC from $67.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company. Eaton Co., PLC currently has a consensus rating of “Hold” and a consensus price target of $64.37.
The stock’s 50-day moving average is $63.73 and its 200-day moving average is $63.32. The company has a market capitalization of $30.29 billion, a P/E ratio of 15.85 and a beta of 1.36.
Eaton Co., PLC (NYSE:ETN) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $1.15 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.15. The company had revenue of $5 billion for the quarter, compared to analyst estimates of $5.05 billion. Eaton Co., PLC had a net margin of 9.78% and a return on equity of 12.73%. Eaton Co., PLC’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the business earned $0.96 EPS. Analysts forecast that Eaton Co., PLC will post $4.20 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Investors 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 Co., PLC’s payout ratio is 53.65%.
Several institutional investors have recently bought and sold shares of ETN. Physicians Financial Services Inc. raised its position in Eaton Co., PLC by 111.7% in the second quarter. Physicians Financial Services Inc. now owns 1,706 shares of the company’s stock valued at $102,000 after buying an additional 900 shares during the last quarter. Kistler Tiffany Companies LLC raised its position in Eaton Co., PLC by 2.8% in the second quarter. Kistler Tiffany Companies LLC now owns 1,809 shares of the company’s stock valued at $108,000 after buying an additional 49 shares during the last quarter. Woodmont Investment Counsel LLC acquired a new position in Eaton Co., PLC during the third quarter valued at $108,000. Ropes Wealth Advisors LLC raised its position in Eaton Co., PLC by 1.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,863 shares of the company’s stock valued at $111,000 after buying an additional 22 shares during the last quarter. Finally, American National Bank raised its position in Eaton Co., PLC by 171.6% in the second quarter. American National Bank now owns 1,915 shares of the company’s stock valued at $114,000 after buying an additional 1,210 shares during the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.
Eaton Co., 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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