Eaton Co. plc (NYSE:ETN) Insider Sells $22,224,561.93 in Stock

Eaton Co. plc (NYSE:ETN) insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Eaton Stock Performance

ETN traded up $1.40 on Thursday, reaching $360.58. The stock had a trading volume of 2,739,632 shares, compared to its average volume of 2,115,278. The company has a market cap of $142.50 billion, a P/E ratio of 38.36, a price-to-earnings-growth ratio of 2.66 and a beta of 1.01. The business’s 50-day moving average price is $325.92 and its two-hundred day moving average price is $319.05. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12-month low of $215.64 and a 12-month high of $366.08.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period last year, the business earned $2.47 earnings per share. Eaton’s revenue was up 7.9% compared to the same quarter last year. Sell-side analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio is presently 40.00%.

Analyst Ratings Changes

A number of research firms have weighed in on ETN. Evercore ISI reduced their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Royal Bank of Canada restated an “outperform” rating and set a $374.00 price target on shares of Eaton in a research report on Friday, November 1st. Morgan Stanley initiated coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective for the company. Citigroup assumed coverage on Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price target on the stock. Finally, Jefferies Financial Group upped their price objective on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Eaton currently has an average rating of “Moderate Buy” and an average price target of $343.28.

Institutional Trading of Eaton

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aviance Capital Partners LLC grew its holdings in Eaton by 1.7% in the third quarter. Aviance Capital Partners LLC now owns 2,026 shares of the industrial products company’s stock valued at $671,000 after purchasing an additional 34 shares during the last quarter. Joseph Group Capital Management increased its stake in shares of Eaton by 27.6% during the 3rd quarter. Joseph Group Capital Management now owns 12,849 shares of the industrial products company’s stock valued at $4,259,000 after acquiring an additional 2,782 shares during the last quarter. Nixon Peabody Trust Co. boosted its holdings in shares of Eaton by 38.3% in the 3rd quarter. Nixon Peabody Trust Co. now owns 1,037 shares of the industrial products company’s stock valued at $344,000 after purchasing an additional 287 shares during the last quarter. Aviso Wealth Management boosted its holdings in Eaton by 755.0% in the third quarter. Aviso Wealth Management now owns 6,712 shares of the industrial products company’s stock valued at $2,225,000 after acquiring an additional 5,927 shares during the last quarter. Finally, J. W. Coons Advisors LLC raised its holdings in Eaton by 0.6% in the third quarter. J. W. Coons Advisors LLC now owns 12,645 shares of the industrial products company’s stock valued at $4,191,000 after buying an additional 78 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.