Eaton (NYSE:ETN) Trading Down 0.4%

Eaton Co. plc (NYSE:ETN)’s share price fell 0.4% on Thursday . The stock traded as low as $324.54 and last traded at $326.73. 179,439 shares were traded during trading, a decline of 92% from the average session volume of 2,160,596 shares. The stock had previously closed at $327.99.

Analyst Ratings Changes

Several research firms have commented on ETN. Evercore ISI reduced their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Barclays upped their price objective on shares of Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Morgan Stanley initiated coverage on shares of Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Raymond James lowered their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Finally, Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $337.88.

Eaton Price Performance

The firm has a market cap of $130.55 billion, a PE ratio of 38.57, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The stock has a 50 day moving average price of $301.93 and a two-hundred day moving average price of $314.34.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) 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 business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. As a group, equities analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is 44.39%.

Insider Activity at Eaton

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the transaction, the insider now owns 3,914 shares of the company’s stock, valued at $1,186,411.68. The disclosure for this sale can be found here. Insiders have sold a total of 52,511 shares of company stock worth $15,809,326 over the last quarter. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Unique Wealth LLC raised its stake in shares of Eaton by 9.6% during the 3rd quarter. Unique Wealth LLC now owns 3,735 shares of the industrial products company’s stock worth $1,238,000 after buying an additional 328 shares during the period. Czech National Bank increased its holdings in Eaton by 6.4% in the 3rd quarter. Czech National Bank now owns 81,097 shares of the industrial products company’s stock worth $26,879,000 after acquiring an additional 4,912 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in Eaton by 4.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 22,687 shares of the industrial products company’s stock worth $7,519,000 after acquiring an additional 1,007 shares during the period. Trust Co. of Toledo NA OH lifted its holdings in Eaton by 7.2% during the third quarter. Trust Co. of Toledo NA OH now owns 15,945 shares of the industrial products company’s stock valued at $5,285,000 after purchasing an additional 1,068 shares in the last quarter. Finally, Abacus Planning Group Inc. grew its position in shares of Eaton by 3.4% in the third quarter. Abacus Planning Group Inc. now owns 1,107 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 36 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.