Deborah L. Mccoy Sells 6,450 Shares of Eaton Corporation, PLC (ETN) Stock
Eaton Corporation, PLC (NYSE:ETN) Director Deborah L. Mccoy sold 6,450 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $73.17, for a total transaction of $471,946.50. Following the completion of the transaction, the director now owns 46,386 shares in the company, valued at approximately $3,394,063.62. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Eaton Corporation, PLC (NYSE ETN) traded up 1.629% on Tuesday, hitting $74.545. 2,166,774 shares of the company were exchanged. Eaton Corporation, PLC has a 52 week low of $59.07 and a 52 week high of $81.63. The company has a market capitalization of $33.16 billion, a price-to-earnings ratio of 17.090 and a beta of 1.36. The stock has a 50 day moving average of $73.21 and a 200 day moving average of $75.16.
Eaton Corporation, PLC (NYSE:ETN) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.01). Eaton Corporation, PLC had a return on equity of 12.93% and a net margin of 9.95%. The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the business earned $1.07 EPS. The business’s revenue was up 1.0% compared to the same quarter last year. Analysts predict that Eaton Corporation, PLC will post $4.61 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Friday, August 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Wednesday, August 2nd. Eaton Corporation, PLC’s payout ratio is 54.79%.
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A number of hedge funds have recently made changes to their positions in ETN. Massmutual Trust Co. FSB ADV lifted its stake in Eaton Corporation, PLC by 9.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,402 shares of the industrial products company’s stock worth $104,000 after acquiring an additional 120 shares during the period. Harfst & Associates Inc. purchased a new stake in Eaton Corporation, PLC in the first quarter worth $109,000. Guardian Life Insurance Co. of America lifted its stake in Eaton Corporation, PLC by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,742 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 12 shares during the period. Captrust Financial Advisors purchased a new stake in Eaton Corporation, PLC in the second quarter worth $133,000. Finally, Citizens Financial Group Inc. RI lifted its stake in Eaton Corporation, PLC by 168.8% in the first quarter. Citizens Financial Group Inc. RI now owns 2,059 shares of the industrial products company’s stock worth $153,000 after acquiring an additional 1,293 shares during the period. 75.86% of the stock is owned by institutional investors.
ETN has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Monday, June 5th. JMP Securities initiated coverage on shares of Eaton Corporation, PLC in a research report on Monday, June 19th. They issued a “market perform” rating on the stock. Argus restated a “buy” rating and issued a $85.00 price target (up previously from $83.00) on shares of Eaton Corporation, PLC in a research report on Tuesday, May 30th. Jefferies Group LLC restated a “hold” rating and issued a $75.00 price target on shares of Eaton Corporation, PLC in a research report on Thursday, August 24th. Finally, ValuEngine upgraded shares of Eaton Corporation, PLC from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $79.67.
Eaton Corporation, 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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