Eaton Corporation, PLC (ETN) Insider Curtis J. Hutchins Sells 14,360 Shares
Eaton Corporation, PLC (NYSE:ETN) insider Curtis J. Hutchins sold 14,360 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $78.36, for a total transaction of $1,125,249.60. Following the completion of the sale, the insider now directly owns 26,596 shares in the company, valued at $2,084,062.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Eaton Corporation, PLC (ETN) opened at $76.41 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Eaton Corporation, PLC has a twelve month low of $66.60 and a twelve month high of $82.34. The company has a market cap of $34,234.62, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 2.00 and a beta of 1.38.
Eaton (NYSE:ETN) last posted its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $1.25 EPS for the quarter, hitting the consensus estimate of $1.25. Eaton had a net margin of 14.21% and a return on equity of 12.89%. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same quarter in the previous year, the business posted $1.16 EPS. The firm’s revenue was up 6.4% on a year-over-year basis. equities analysts forecast that Eaton Corporation, PLC will post 4.6 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of ETN. Cable Hill Partners LLC boosted its holdings in shares of Eaton by 174.8% in the 3rd quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock valued at $105,000 after buying an additional 867 shares in the last quarter. Fieldpoint Private Securities LLC acquired a new position in shares of Eaton in the 3rd quarter valued at $130,000. Captrust Financial Advisors acquired a new position in shares of Eaton in the 2nd quarter valued at $133,000. Harfst & Associates Inc. boosted its holdings in shares of Eaton by 21.8% in the 2nd quarter. Harfst & Associates Inc. now owns 1,798 shares of the industrial products company’s stock valued at $139,000 after buying an additional 322 shares in the last quarter. Finally, Acrospire Investment Management LLC boosted its holdings in shares of Eaton by 325.9% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,091 shares of the industrial products company’s stock valued at $163,000 after buying an additional 1,600 shares in the last quarter. Institutional investors own 76.65% of the company’s stock.
ETN has been the subject of a number of research reports. Citigroup lifted their price objective on shares of Eaton from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Credit Suisse Group restated an “outperform” rating and issued a $92.00 price objective (up previously from $86.00) on shares of Eaton in a report on Wednesday, November 1st. Buckingham Research initiated coverage on shares of Eaton in a report on Tuesday, October 17th. They issued a “neutral” rating and a $82.00 price objective for the company. Oppenheimer restated a “hold” rating on shares of Eaton in a report on Tuesday, October 31st. Finally, Stifel Nicolaus restated a “hold” rating and issued a $85.00 price objective on shares of Eaton in a report on Friday, November 3rd. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $82.86.
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Eaton 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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