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

Eaton Co. plc (NYSE:ETN) insider Craig Arnold sold 51,054 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 489,444 shares in the company, valued at $149,490,880.92. This trade represents a 9.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Eaton Price Performance

Shares of ETN opened at $310.01 on Friday. The company has a 50 day moving average of $282.81 and a two-hundred day moving average of $320.13. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. The company has a market cap of $121.31 billion, a price-to-earnings ratio of 32.63, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping 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 firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the previous year, the business earned $2.40 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

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

Institutional Trading of Eaton

Several large investors have recently bought and sold shares of ETN. Wetzel Investment Advisors Inc. lifted its stake in shares of Eaton by 0.9% during the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock worth $1,029,000 after buying an additional 28 shares during the period. Westmount Partners LLC increased its holdings in shares of Eaton by 3.1% in the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 30 shares during the period. Signal Advisors Wealth LLC lifted its holdings in shares of Eaton by 3.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 30 shares during the period. Lantz Financial LLC boosted its position in Eaton by 4.8% in the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock valued at $219,000 after buying an additional 30 shares during the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its holdings in Eaton by 2.0% in the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company’s stock worth $544,000 after buying an additional 32 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on ETN shares. StockNews.com downgraded shares of Eaton from a “buy” rating to a “hold” rating in a research note on Saturday. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a research note on Tuesday, January 28th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $355.00 target price on shares of Eaton in a research report on Monday, May 5th. JPMorgan Chase & Co. increased their price target on Eaton from $289.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Finally, Citigroup lifted their price objective on Eaton from $323.00 to $351.00 and gave the company a “buy” rating in a report on Monday, May 5th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average target price 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.