Nandakumar Cheruvatath Sells 9,992 Shares of Eaton Co. PLC (ETN) Stock

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Eaton Co. PLC (NYSE:ETN) insider Nandakumar Cheruvatath sold 9,992 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $80.20, for a total transaction of $801,358.40. Following the completion of the sale, the insider now directly owns 14,569 shares in the company, valued at approximately $1,168,433.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Nandakumar Cheruvatath also recently made the following trade(s):

  • On Friday, March 1st, Nandakumar Cheruvatath sold 95 shares of Eaton stock. The shares were sold at an average price of $80.23, for a total transaction of $7,621.85.

ETN stock opened at $80.99 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.47. Eaton Co. PLC has a twelve month low of $64.46 and a twelve month high of $89.46. The company has a market cap of $34.08 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 1.48 and a beta of 1.48.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, January 31st. The industrial products company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. Eaton had a net margin of 9.93% and a return on equity of 14.06%. The company had revenue of $5.46 billion for the quarter, compared to analysts’ expectations of $5.42 billion. As a group, analysts predict that Eaton Co. PLC will post 5.86 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Saturday, March 9th will be issued a $0.71 dividend. The ex-dividend date is Thursday, March 7th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.51%. Eaton’s payout ratio is 52.69%.

Several analysts recently weighed in on ETN shares. Robert W. Baird set a $89.00 target price on shares of Eaton and gave the company a “buy” rating in a report on Saturday, February 2nd. Wolfe Research cut shares of Eaton from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 8th. Barclays reduced their target price on shares of Eaton from $75.00 to $73.00 and set an “underweight” rating on the stock in a report on Monday, January 7th. Morgan Stanley set a $82.00 price objective on shares of Eaton and gave the stock a “hold” rating in a report on Saturday, February 2nd. Finally, Wells Fargo & Co raised their price objective on shares of Eaton from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $86.38.

Several institutional investors have recently made changes to their positions in ETN. Oregon Public Employees Retirement Fund increased its holdings in shares of Eaton by 8,639.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,674,949 shares of the industrial products company’s stock valued at $141,000 after acquiring an additional 9,564,240 shares during the period. Norges Bank acquired a new position in shares of Eaton in the 4th quarter valued at $524,126,000. BlackRock Inc. increased its holdings in shares of Eaton by 6.7% in the 4th quarter. BlackRock Inc. now owns 31,171,908 shares of the industrial products company’s stock valued at $2,140,263,000 after acquiring an additional 1,955,724 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Eaton by 9.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,820,730 shares of the industrial products company’s stock valued at $591,563,000 after acquiring an additional 586,855 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Eaton in the 3rd quarter valued at $49,250,000. 74.88% of the stock is currently owned by institutional investors and hedge funds.

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About Eaton

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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