Eaton Corporation, PLC (NYSE:ETN) insider Revathi Advaithi sold 23,743 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $78.36, for a total value of $1,860,501.48. Following the sale, the insider now owns 31,028 shares of the company’s stock, valued at approximately $2,431,354.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Eaton Corporation, PLC (NYSE:ETN) opened at $77.94 on Tuesday. The firm has a market capitalization of $34,331.55, a PE ratio of 17.39, a price-to-earnings-growth ratio of 1.92 and a beta of 1.39. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.43. Eaton Corporation, PLC has a 12-month low of $63.94 and a 12-month high of $82.34.
Eaton Corporation, PLC (NYSE:ETN) last announced its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share for the quarter, hitting the consensus estimate of $1.25. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.12 billion. Eaton Corporation, PLC had a return on equity of 12.89% and a net margin of 14.21%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $1.16 EPS. equities analysts anticipate that Eaton Corporation, PLC will post 4.6 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Friday, November 3rd will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.08%. The ex-dividend date is Thursday, November 2nd. Eaton Corporation, PLC’s dividend payout ratio is currently 37.68%.
A number of institutional investors and hedge funds have recently made changes to their positions in ETN. Schroder Investment Management Group grew its position in Eaton Corporation, PLC by 24.4% during the 2nd quarter. Schroder Investment Management Group now owns 3,262,517 shares of the industrial products company’s stock worth $250,007,000 after purchasing an additional 640,198 shares during the period. Point72 Asset Management L.P. grew its position in Eaton Corporation, PLC by 610.1% during the 1st quarter. Point72 Asset Management L.P. now owns 639,100 shares of the industrial products company’s stock worth $47,389,000 after purchasing an additional 549,100 shares during the period. PGGM Investments grew its position in Eaton Corporation, PLC by 142.1% during the 3rd quarter. PGGM Investments now owns 703,839 shares of the industrial products company’s stock worth $54,048,000 after purchasing an additional 413,096 shares during the period. Canada Pension Plan Investment Board grew its position in Eaton Corporation, PLC by 91.8% during the 3rd quarter. Canada Pension Plan Investment Board now owns 375,869 shares of the industrial products company’s stock worth $28,863,000 after purchasing an additional 179,900 shares during the period. Finally, Systematic Financial Management LP acquired a new stake in Eaton Corporation, PLC during the 2nd quarter worth about $9,895,000. 77.01% of the stock is currently owned by institutional investors.
ETN has been the subject of several analyst reports. BidaskClub lowered Eaton Corporation, PLC from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. ValuEngine upgraded Eaton Corporation, PLC from a “hold” rating to a “buy” rating in a report on Friday, September 15th. J P Morgan Chase & Co lowered Eaton Corporation, PLC from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $73.00 to $70.00 in a report on Thursday, August 17th. Jefferies Group LLC increased their price objective on Eaton Corporation, PLC from $70.00 to $80.00 and gave the company a “hold” rating in a report on Wednesday, November 1st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $82.00 price objective on shares of Eaton Corporation, PLC in a report on Thursday, October 12th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $82.86.
About Eaton Corporation, PLC
Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.
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