Eaton Co. PLC (NYSE:ETN) insider Joao V. Faria sold 16,988 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $90.98, for a total value of $1,545,568.24. Following the transaction, the insider now directly owns 58,841 shares of the company’s stock, valued at approximately $5,353,354.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of ETN stock traded down $0.99 during trading on Wednesday, hitting $91.36. The company’s stock had a trading volume of 649,447 shares, compared to its average volume of 2,354,767. The company has a market cap of $38.12 billion, a PE ratio of 16.95, a P/E/G ratio of 1.84 and a beta of 1.42. The company has a current ratio of 1.72, a quick ratio of 1.10 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average of $84.22 and a 200-day moving average of $81.39. Eaton Co. PLC has a 52 week low of $64.46 and a 52 week high of $92.96.
Eaton (NYSE:ETN) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.01. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.51 billion. Eaton had a return on equity of 15.15% and a net margin of 11.06%. Eaton’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 earnings per share. As a group, research analysts predict that Eaton Co. PLC will post 5.73 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Eaton by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 33,329,894 shares of the industrial products company’s stock worth $2,775,713,000 after buying an additional 458,692 shares during the last quarter. BlackRock Inc. grew its stake in Eaton by 1.1% in the second quarter. BlackRock Inc. now owns 30,504,507 shares of the industrial products company’s stock valued at $2,540,415,000 after acquiring an additional 341,830 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Eaton by 0.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 16,004,831 shares of the industrial products company’s stock valued at $1,330,803,000 after acquiring an additional 135,822 shares during the period. Northern Trust Corp grew its stake in Eaton by 0.4% in the second quarter. Northern Trust Corp now owns 6,090,154 shares of the industrial products company’s stock valued at $507,188,000 after acquiring an additional 25,664 shares during the period. Finally, Invesco Ltd. grew its stake in Eaton by 28.1% in the second quarter. Invesco Ltd. now owns 5,815,463 shares of the industrial products company’s stock valued at $484,312,000 after acquiring an additional 1,276,325 shares during the period. 78.73% of the stock is owned by institutional investors.
ETN has been the topic of a number of recent analyst reports. Morgan Stanley set a $87.00 price objective on Eaton and gave the company a “hold” rating in a research note on Friday, November 1st. Deutsche Bank set a $96.00 price target on Eaton and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Oppenheimer raised Eaton from a “market perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a research note on Wednesday, October 16th. Wells Fargo & Co increased their price objective on Eaton from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Vertical Research downgraded Eaton from a “buy” rating to a “hold” rating and set a $85.00 price objective for the company. in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $91.29.
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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