Insider Selling: Eaton Corp. PLC (ETN) Insider Sells 39,008 Shares of Stock
Eaton Corp. PLC (NYSE:ETN) insider Revathi Advaithi sold 39,008 shares of the company’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $64.16, for a total transaction of $2,502,753.28. Following the transaction, the insider now owns 71,397 shares of the company’s stock, valued at approximately $4,580,831.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Eaton Corp. PLC (NYSE:ETN) traded down 0.53% during midday trading on Tuesday, hitting $65.19. 992,682 shares of the company’s stock traded hands. The company has a 50 day moving average of $63.98 and a 200-day moving average of $63.45. The company has a market capitalization of $29.45 billion, a PE ratio of 15.40 and a beta of 1.36. Eaton Corp. PLC has a 52 week low of $46.19 and a 52 week high of $68.95.
Eaton Corp. PLC (NYSE:ETN) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $1.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.15. Eaton Corp. PLC had a net margin of 9.78% and a return on equity of 12.73%. The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the business earned $0.96 earnings per share. The company’s revenue was down 4.2% on a year-over-year basis. Equities research analysts predict that Eaton Corp. PLC will post $4.20 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Thursday, November 3rd. Eaton Corp. PLC’s dividend payout ratio is currently 53.65%.
Large investors have recently modified their holdings of the stock. HighPoint Advisor Group LLC bought a new stake in shares of Eaton Corp. PLC during the third quarter worth $247,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Eaton Corp. PLC during the third quarter valued at approximately $128,000. D.A. Davidson & CO. boosted its stake in shares of Eaton Corp. PLC by 41.8% in the third quarter. D.A. Davidson & CO. now owns 88,713 shares of the company’s stock valued at $5,826,000 after buying an additional 26,163 shares during the period. Whalerock Point Partners LLC acquired a new stake in shares of Eaton Corp. PLC during the third quarter valued at approximately $691,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of Eaton Corp. PLC during the third quarter valued at approximately $32,364,000. Institutional investors and hedge funds own 74.34% of the company’s stock.
A number of equities analysts have commented on ETN shares. Barclays PLC upped their price objective on shares of Eaton Corp. PLC from $67.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 3rd. Jefferies Group reiterated a “hold” rating on shares of Eaton Corp. PLC in a report on Friday, August 5th. Argus upgraded shares of Eaton Corp. PLC from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, August 10th. They noted that the move was a valuation call. Deutsche Bank AG reiterated a “hold” rating and issued a $65.00 price target on shares of Eaton Corp. PLC in a report on Thursday, August 25th. Finally, HSBC started coverage on shares of Eaton Corp. PLC in a report on Friday, October 7th. They issued a “buy” rating and a $74.00 price target for the company. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $64.37.
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.
Receive News & Stock Ratings for Eaton Corp. PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton Corp. PLC and related stocks with our FREE daily email newsletter.