Eaton (NYSE:ETN) Trading 2.5% Higher

Eaton Co. plc (NYSE:ETN) shares rose 2.5% during trading on Thursday . The stock traded as high as $328.00 and last traded at $322.49. Approximately 747,309 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 2,161,662 shares. The stock had previously closed at $314.65.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Citigroup started coverage on Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price target on the stock. Barclays lifted their price objective on shares of Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Royal Bank of Canada decreased their target price on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Morgan Stanley assumed coverage on shares of Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price target on the stock. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $337.41.

Eaton Trading Up 0.5 %

The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $132.17 billion, a price-to-earnings ratio of 39.03, a PEG ratio of 2.28 and a beta of 1.01. The firm has a 50-day moving average price of $299.93 and a 200-day moving average price of $312.45.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.35 billion. As a group, sell-side analysts predict that Eaton Co. plc will post 10.74 EPS for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a $0.94 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.14%. Eaton’s dividend payout ratio is currently 44.39%.

Insiders Place Their Bets

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the sale, the insider now directly owns 71,262 shares in the company, valued at $21,451,287.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock worth $15,809,326 over the last ninety days. 0.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Eaton

Large investors have recently bought and sold shares of the business. Gryphon Financial Partners LLC boosted its position in shares of Eaton by 81.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock valued at $565,000 after acquiring an additional 1,053 shares during the period. CreativeOne Wealth LLC increased its holdings in shares of Eaton by 27.3% during the 4th quarter. CreativeOne Wealth LLC now owns 1,324 shares of the industrial products company’s stock worth $319,000 after purchasing an additional 284 shares during the period. SageView Advisory Group LLC raised its position in shares of Eaton by 148.6% during the fourth quarter. SageView Advisory Group LLC now owns 6,759 shares of the industrial products company’s stock valued at $1,692,000 after buying an additional 4,040 shares during the last quarter. Team Hewins LLC bought a new stake in shares of Eaton in the fourth quarter valued at about $481,000. Finally, Orion Portfolio Solutions LLC grew its position in Eaton by 0.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 30,986 shares of the industrial products company’s stock worth $7,405,000 after buying an additional 258 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

About Eaton

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.