Insider Selling: Eaton Co. plc (NYSE:ETN) Director Sells 285 Shares of Stock

Eaton Co. plc (NYSE:ETN) Director Dorothy C. Thompson sold 285 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $289.51, for a total transaction of $82,510.35. Following the completion of the sale, the director now owns 516 shares of the company’s stock, valued at approximately $149,387.16. This represents a 35.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Eaton Stock Performance

Shares of Eaton stock traded up $1.35 during midday trading on Friday, hitting $346.54. The company had a trading volume of 2,454,294 shares, compared to its average volume of 2,489,136. The company has a fifty day simple moving average of $354.73 and a 200 day simple moving average of $329.53. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The stock has a market cap of $136.95 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 2.27 and a beta of 1.06. Eaton Co. plc has a 12-month low of $236.20 and a 12-month high of $379.99.

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

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.09%. Eaton’s payout ratio is 40.00%.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their target price on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Citigroup dropped their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday. Wells Fargo & Company lowered their target price on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Mizuho upped their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $368.89.

Institutional Trading of Eaton

Several institutional investors and hedge funds have recently bought and sold shares of ETN. Veracity Capital LLC grew its position in shares of Eaton by 26.3% during the fourth quarter. Veracity Capital LLC now owns 956 shares of the industrial products company’s stock worth $317,000 after buying an additional 199 shares in the last quarter. Secure Asset Management LLC raised its holdings in Eaton by 6.8% during the fourth quarter. Secure Asset Management LLC now owns 2,933 shares of the industrial products company’s stock worth $973,000 after purchasing an additional 188 shares in the last quarter. Red Door Wealth Management LLC boosted its position in shares of Eaton by 2.9% during the 4th quarter. Red Door Wealth Management LLC now owns 1,627 shares of the industrial products company’s stock worth $540,000 after purchasing an additional 46 shares in the last quarter. Capital Planning Advisors LLC purchased a new position in Eaton in the 4th quarter valued at approximately $1,205,000. Finally, Avior Wealth Management LLC lifted its holdings in shares of Eaton by 7.7% in the fourth quarter. Avior Wealth Management LLC now owns 2,793 shares of the industrial products company’s stock valued at $927,000 after purchasing an additional 199 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

About Eaton

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.