Eaton (NYSE:ETN) Trading Down 0.7%

Eaton Co. plc (NYSE:ETN)’s share price was down 0.7% during trading on Tuesday . The stock traded as low as $326.30 and last traded at $327.60. Approximately 450,503 shares traded hands during trading, a decline of 79% from the average daily volume of 2,172,161 shares. The stock had previously closed at $329.79.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of research analyst reports. Barclays raised 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. Raymond James reduced their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Royal Bank of Canada lowered their target price on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Citigroup initiated coverage on Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective on the stock. Finally, Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $337.41.

Eaton Stock Performance

The stock’s 50-day moving average is $299.99 and its 200 day moving average is $312.91. The firm has a market cap of $131.46 billion, a P/E ratio of 38.89, a PEG ratio of 2.28 and a beta of 1.01. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. On average, research analysts predict that Eaton Co. plc will post 10.74 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued 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 (DPR) is presently 44.39%.

Insiders Place Their Bets

In related news, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction dated Thursday, August 15th. The stock was 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 owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Dorothy C. Thompson bought 2,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the acquisition, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The disclosure for this purchase can be found here. Insiders have sold 52,511 shares of company stock valued at $15,809,326 in the last ninety days. 0.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Gryphon Financial Partners LLC raised its position in Eaton by 81.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock valued at $565,000 after purchasing an additional 1,053 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its holdings in shares of Eaton by 4.7% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,522 shares of the industrial products company’s stock worth $607,000 after acquiring an additional 113 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Eaton by 57.0% in the 4th quarter. Hsbc Holdings PLC now owns 402,471 shares of the industrial products company’s stock valued at $96,861,000 after purchasing an additional 146,056 shares in the last quarter. Cape Investment Advisory Inc. raised its position in Eaton by 42.5% in the 4th quarter. Cape Investment Advisory Inc. now owns 275 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 82 shares during the period. Finally, Artisan Partners Limited Partnership lifted its stake in Eaton by 207.5% in the fourth quarter. Artisan Partners Limited Partnership now owns 970,426 shares of the industrial products company’s stock worth $233,698,000 after purchasing an additional 654,855 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

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.