Eaton (NYSE:ETN) Shares Down 2.2% on Insider Selling

Eaton Co. plc (NYSE:ETN)’s stock price dropped 2.2% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $344.67 and last traded at $347.31. Approximately 764,663 shares were traded during trading, a decline of 63% from the average daily volume of 2,074,190 shares. The stock had previously closed at $355.15.

Specifically, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ETN. Royal Bank of Canada reissued an “outperform” rating and set a $374.00 price objective on shares of Eaton in a research note on Friday, November 1st. UBS Group initiated coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Jefferies Financial Group increased their price objective on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Mizuho boosted their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Sanford C. Bernstein initiated coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average target price of $367.83.

Eaton Stock Up 0.2 %

The stock has a fifty day moving average of $356.37 and a two-hundred day moving average of $326.88. 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 $132.64 billion, a price-to-earnings ratio of 35.71, a PEG ratio of 2.74 and a beta of 1.03.

Eaton (NYSE:ETN) last released its quarterly earnings data 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 business had revenue of $6.35 billion for 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%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.47 EPS. As a group, analysts predict that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a dividend of $0.94 per share. 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 payout ratio is 40.00%.

Institutional Trading of Eaton

Institutional investors have recently added to or reduced their stakes in the business. Strategic Wealth Partners Ltd. raised its holdings in shares of Eaton by 3.0% during the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after buying an additional 30 shares during the last quarter. Fairfield Financial Advisors LTD raised its stake in Eaton by 16.2% during the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 30 shares in the last quarter. Venturi Wealth Management LLC boosted its position in Eaton by 2.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after acquiring an additional 32 shares during the period. Austin Private Wealth LLC grew its stake in shares of Eaton by 3.7% in the third quarter. Austin Private Wealth LLC now owns 929 shares of the industrial products company’s stock worth $308,000 after purchasing an additional 33 shares in the last quarter. Finally, Smithfield Trust Co increased its holdings in shares of Eaton by 0.6% during the third quarter. Smithfield Trust Co now owns 5,390 shares of the industrial products company’s stock valued at $1,789,000 after purchasing an additional 33 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.