Eaton (NYSE:ETN) Trading Up 0.1%

Eaton Co. plc (NYSE:ETN)’s stock price traded up 0.1% during mid-day trading on Friday . The company traded as high as $329.61 and last traded at $329.36. 581,688 shares were traded during mid-day trading, a decline of 73% from the average session volume of 2,167,444 shares. The stock had previously closed at $328.92.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of recent research reports. Raymond James lowered their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Wells Fargo & Company lowered their target price on Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Jefferies Financial Group raised their target price on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Morgan Stanley began coverage on Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price for the company. Finally, Evercore ISI decreased their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $337.41.

Eaton Stock Performance

The firm has a 50 day moving average of $299.93 and a two-hundred day moving average of $312.22. The stock has a market cap of $132.06 billion, a PE 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 current ratio of 1.56 and a quick ratio of 1.07.

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

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.14%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is 44.39%.

Insiders Place Their Bets

In other news, Director Dorothy C. Thompson purchased 2,205 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now 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 is available at the SEC website. Also, Director Dorothy C. Thompson bought 2,205 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the acquisition, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The disclosure for this purchase can be found here. Insiders have sold a total of 52,511 shares of company stock valued at $15,809,326 over the last quarter. Company insiders own 0.53% of the company’s stock.

Institutional Trading of Eaton

Institutional investors have recently modified their holdings of the business. Congress Wealth Management LLC DE boosted its stake in shares of Eaton by 8.1% in the fourth quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock valued at $18,479,000 after buying an additional 5,725 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Eaton in the first quarter valued at approximately $2,176,000. Weiss Asset Management LP purchased a new stake in shares of Eaton in the fourth quarter valued at approximately $1,001,000. Prospector Partners LLC boosted its stake in shares of Eaton by 0.6% in the fourth quarter. Prospector Partners LLC now owns 71,307 shares of the industrial products company’s stock valued at $17,172,000 after buying an additional 415 shares in the last quarter. Finally, Griffin Asset Management Inc. purchased a new stake in shares of Eaton in the first quarter valued at approximately $813,000. 82.97% of the stock is currently owned by hedge funds and other 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.