Eaton Corporation, PLC (NYSE:ETN) insider Revathi Advaithi sold 23,743 shares of the 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 completion of the sale, the insider now owns 31,028 shares in the company, valued at approximately $2,431,354.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Eaton Corporation, PLC (ETN) opened at $75.87 on Thursday. Eaton Corporation, PLC has a 12-month low of $63.94 and a 12-month high of $82.34. The firm has a market capitalization of $33,877.73, a PE ratio of 17.16, a P/E/G ratio of 1.89 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 (NYSE:ETN) last issued its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.25. Eaton Corporation, PLC had a return on equity of 12.89% and a net margin of 14.21%. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter last year, the company earned $1.16 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. equities analysts expect that Eaton Corporation, PLC will post 4.6 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Friday, November 3rd will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Thursday, November 2nd. Eaton Corporation, PLC’s payout ratio is currently 37.68%.
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A number of analysts have weighed in on ETN shares. Morgan Stanley reiterated an “overweight” rating and issued a $88.00 target price (up previously from $87.00) on shares of Eaton Corporation, PLC in a research note on Monday, October 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $82.00 target price on shares of Eaton Corporation, PLC in a research note on Thursday, October 12th. Jefferies Group LLC reiterated a “hold” rating and issued a $75.00 target price on shares of Eaton Corporation, PLC in a research note on Thursday, August 24th. Credit Suisse Group reiterated an “outperform” rating and issued a $92.00 target price (up previously from $86.00) on shares of Eaton Corporation, PLC in a research note on Wednesday, November 1st. Finally, BidaskClub lowered Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Four equities 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 company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $82.86.
Hedge funds and other institutional investors have recently modified their holdings of the business. Cable Hill Partners LLC boosted its holdings in Eaton Corporation, PLC by 174.8% in the third quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 867 shares in the last quarter. Fieldpoint Private Securities LLC acquired a new stake in Eaton Corporation, PLC in the third quarter worth about $130,000. Captrust Financial Advisors acquired a new stake in Eaton Corporation, PLC in the second quarter worth about $133,000. Harfst & Associates Inc. boosted its holdings in Eaton Corporation, PLC by 21.8% in the second quarter. Harfst & Associates Inc. now owns 1,798 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 322 shares in the last quarter. Finally, Acrospire Investment Management LLC boosted its holdings in Eaton Corporation, PLC by 325.9% in the second quarter. Acrospire Investment Management LLC now owns 2,091 shares of the industrial products company’s stock worth $163,000 after acquiring an additional 1,600 shares in the last quarter. 77.01% of the stock is owned by institutional investors and hedge funds.
Eaton Corporation, PLC Company Profile
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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