Eaton Corp. PLC (ETN) Director Deborah L. Mccoy Sells 6,504 Shares
Eaton Corp. PLC (NYSE:ETN) Director Deborah L. Mccoy sold 6,504 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $66.34, for a total value of $431,475.36. Following the sale, the director now directly owns 51,440 shares in the company, valued at approximately $3,412,529.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Eaton Corp. PLC (NYSE:ETN) opened at 65.98 on Tuesday. The company has a market cap of $29.80 billion, a PE ratio of 15.59 and a beta of 1.36. Eaton Corp. PLC has a one year low of $46.19 and a one year high of $68.95. The stock’s 50 day moving average price is $64.07 and its 200-day moving average price is $63.59.
Eaton Corp. PLC (NYSE:ETN) last released its quarterly earnings data on Tuesday, November 1st. The company reported $1.15 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.15. The company had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Eaton Corp. PLC had a net margin of 9.78% and a return on equity of 12.73%. The business’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 EPS. On average, analysts expect that Eaton Corp. PLC will post $4.20 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were issued a $0.57 dividend. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.46%. Eaton Corp. PLC’s dividend payout ratio is presently 53.65%.
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Several large investors have recently bought and sold shares of the company. Physicians Financial Services Inc. raised its stake in 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 in the last quarter. Kistler Tiffany Companies LLC raised its stake in 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 in the last quarter. Woodmont Investment Counsel LLC acquired a new stake in Eaton Corp. PLC during the third quarter worth $108,000. Ropes Wealth Advisors LLC raised its stake in 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 in the last quarter. Finally, American National Bank raised its stake in Eaton Corp. PLC by 171.6% in the second quarter. American National Bank now owns 1,915 shares of the company’s stock worth $114,000 after buying an additional 1,210 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.
ETN has been the topic of several research analyst reports. Deutsche Bank AG reaffirmed a “hold” rating and set a $65.00 price objective on shares of Eaton Corp. PLC in a research note on Thursday, August 25th. HSBC initiated coverage on Eaton Corp. PLC in a research note on Friday, October 7th. They set a “buy” rating and a $74.00 price objective on the stock. RBC Capital Markets 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. Argus raised 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. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Eaton Corp. PLC in a research note on Friday, August 5th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company. Eaton Corp. PLC presently has an average rating of “Hold” and an average 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.
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