Insider Selling: Eaton Co. PLC (ETN) Insider Sells 15,500 Shares of Stock
Eaton Co. PLC (NYSE:ETN) insider Revathi Advaithi sold 15,500 shares of the firm’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $82.98, for a total value of $1,286,190.00. Following the completion of the sale, the insider now directly owns 24,715 shares of the company’s stock, valued at approximately $2,050,850.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
ETN traded down $0.02 during trading on Friday, reaching $82.83. 55,160 shares of the stock traded hands, compared to its average volume of 2,270,196. The stock has a market cap of $36.21 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 1.52 and a beta of 1.42. Eaton Co. PLC has a fifty-two week low of $69.82 and a fifty-two week high of $89.85. The company has a current ratio of 1.47, a quick ratio of 0.96 and a debt-to-equity ratio of 0.40.
Eaton (NYSE:ETN) last announced its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. Eaton had a return on equity of 13.11% and a net margin of 14.80%. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.45 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. sell-side analysts forecast that Eaton Co. PLC will post 5.36 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in ETN. Sound Shore Management Inc. CT acquired a new stake in shares of Eaton in the second quarter worth about $122,069,000. Assenagon Asset Management S.A. lifted its position in shares of Eaton by 27,710.3% in the second quarter. Assenagon Asset Management S.A. now owns 1,434,178 shares of the industrial products company’s stock worth $107,190,000 after buying an additional 1,429,021 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Eaton by 57.8% in the second quarter. American Century Companies Inc. now owns 3,531,120 shares of the industrial products company’s stock worth $263,916,000 after buying an additional 1,293,143 shares during the last quarter. LSV Asset Management lifted its position in shares of Eaton by 6,356.8% in the second quarter. LSV Asset Management now owns 1,239,710 shares of the industrial products company’s stock worth $92,655,000 after buying an additional 1,220,510 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Eaton by 123.2% in the first quarter. Millennium Management LLC now owns 2,050,885 shares of the industrial products company’s stock worth $163,886,000 after buying an additional 1,132,033 shares during the last quarter. 77.55% of the stock is owned by institutional investors.
Several analysts have recently commented on ETN shares. ValuEngine cut Eaton from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Zacks Investment Research raised Eaton from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research report on Monday, August 6th. JPMorgan Chase & Co. raised Eaton from a “neutral” rating to an “overweight” rating and set a $92.00 target price for the company in a research report on Monday, August 13th. Deutsche Bank set a $86.00 target price on Eaton and gave the stock a “buy” rating in a research report on Thursday, July 12th. Finally, Morgan Stanley started coverage on Eaton in a research report on Monday, August 20th. They issued an “equal weight” rating and a $86.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. Eaton has an average rating of “Buy” and a consensus target price of $87.61.
Eaton Company Profile
Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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