Eaton Corporation, PLC (ETN) Insider Revathi Advaithi Sells 23,743 Shares of Stock

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%.

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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.

Insider Buying and Selling by Quarter for Eaton Corporation, PLC (NYSE:ETN)

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