Eaton Co. plc (NYSE:ETN) Insider Craig Arnold Sells 51,054 Shares

Eaton Co. plc (NYSE:ETN) insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the transaction, the insider now owns 489,444 shares of the company’s stock, valued at approximately $149,490,880.92. This represents a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Eaton Trading Up 1.0 %

Shares of Eaton stock opened at $310.01 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The stock’s 50 day simple moving average is $282.81 and its 200-day simple moving average is $320.13. The stock has a market cap of $121.31 billion, a P/E ratio of 32.63, a P/E/G ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The company had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same period in the prior year, the business earned $2.40 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. Analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a $1.04 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.34%. Eaton’s payout ratio is 41.98%.

Institutional Trading of Eaton

Institutional investors have recently made changes to their positions in the company. IMA Advisory Services Inc. purchased a new stake in Eaton in the first quarter valued at $25,000. Capital A Wealth Management LLC purchased a new stake in Eaton in the 4th quarter valued at about $26,000. Flagship Wealth Advisors LLC acquired a new position in Eaton in the fourth quarter valued at about $27,000. Creative Financial Designs Inc. ADV boosted its stake in Eaton by 102.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company’s stock worth $27,000 after buying an additional 51 shares during the period. Finally, Noble Wealth Management PBC purchased a new stake in shares of Eaton in the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the subject of several analyst reports. Barclays decreased their target price on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a research note on Friday, April 4th. Evercore ISI cut their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Jefferies Financial Group decreased their target price on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. KeyCorp boosted their price target on shares of Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Finally, Melius Research reaffirmed a “hold” rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $361.13.

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.