Gregory R. Page Sells 10,000 Shares of Eaton Co. plc (NYSE:ETN) Stock

Eaton Co. plc (NYSE:ETN) Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Eaton Stock Up 0.2 %

ETN stock opened at $335.64 on Friday. The company has a 50 day moving average price of $356.34 and a two-hundred day moving average price of $326.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The stock has a market capitalization of $132.64 billion, a P/E ratio of 35.71, a PEG ratio of 2.74 and a beta of 1.03. Eaton Co. plc has a one year low of $231.84 and a one year high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the previous year, the business earned $2.47 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, sell-side analysts expect that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a $0.94 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.12%. Eaton’s dividend payout ratio is presently 40.00%.

Hedge Funds Weigh In On Eaton

Institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its position in shares of Eaton by 4.1% in the 3rd quarter. Principal Financial Group Inc. now owns 457,350 shares of the industrial products company’s stock worth $151,584,000 after buying an additional 17,965 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in shares of Eaton by 48.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after acquiring an additional 13,497 shares during the period. Legacy Wealth Management LLC MS acquired a new position in shares of Eaton during the 3rd quarter valued at $385,000. 1ST Source Bank boosted its position in Eaton by 16.6% during the 3rd quarter. 1ST Source Bank now owns 2,808 shares of the industrial products company’s stock worth $931,000 after purchasing an additional 400 shares during the period. Finally, Logan Capital Management Inc. increased its holdings in Eaton by 76.8% in the 3rd quarter. Logan Capital Management Inc. now owns 24,771 shares of the industrial products company’s stock valued at $8,210,000 after purchasing an additional 10,764 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on ETN shares. Raymond James decreased their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Citigroup upped their price target on Eaton from $394.00 to $440.00 and gave the stock a “buy” rating in a report on Monday, December 9th. UBS Group assumed coverage on Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Jefferies Financial Group upped their target price on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $374.00 price target on shares of Eaton in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $367.83.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.