Christopher M. Connor Sells 6,504 Shares of Eaton Corp. PLC (ETN) Stock
Eaton Corp. PLC (NYSE:ETN) Director Christopher M. Connor sold 6,504 shares of the stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $65.59, for a total transaction of $426,597.36. Following the completion of the transaction, the director now owns 20,154 shares in the company, valued at $1,321,900.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Eaton Corp. PLC (NYSE:ETN) opened at 65.54 on Tuesday. Eaton Corp. PLC has a 12-month low of $46.19 and a 12-month high of $68.95. The stock has a 50 day moving average of $63.98 and a 200 day moving average of $63.45. The company has a market cap of $29.60 billion, a price-to-earnings ratio of 15.49 and a beta of 1.36.
Eaton Corp. PLC (NYSE:ETN) last posted its earnings results on Tuesday, November 1st. The company reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.15. Eaton Corp. PLC had a net margin of 9.78% and a return on equity of 12.73%. The firm earned $5 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the business posted $0.96 EPS. The business’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts predict that Eaton Corp. PLC will post $4.20 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Thursday, November 3rd. Eaton Corp. PLC’s dividend payout ratio is presently 53.65%.
ETN has been the topic of several recent research reports. Deutsche Bank AG reiterated a “hold” rating and issued a $65.00 price target on shares of Eaton Corp. PLC in a research report on Thursday, August 25th. HSBC initiated coverage on shares of Eaton Corp. PLC in a research report on Friday, October 7th. They issued a “buy” rating and a $74.00 price target on the stock. RBC Capital Markets decreased their price target on shares of 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. Argus upgraded shares of Eaton Corp. PLC from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, August 10th. They noted that the move was a valuation call. Finally, Jefferies Group reiterated a “hold” rating on shares of Eaton Corp. PLC in a research report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company. Eaton Corp. PLC has a consensus rating of “Hold” and a consensus target price of $64.37.
A number of institutional investors have recently bought and sold shares of ETN. Alps Advisors Inc. boosted its position in 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 in the last quarter. Hermes Investment Management Ltd. boosted its position in 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 in the last quarter. Capital One National Association boosted its position in 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 in the last quarter. Seminole Management Co. Inc. bought a new position in Eaton Corp. PLC during the second quarter worth $21,313,000. Finally, Boston Advisors LLC boosted its position in 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 in the last quarter. Institutional investors own 74.34% 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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