Eaton (NYSE:ETN) Stock Price Down 0.2%

Eaton Co. plc (NYSE:ETN) dropped 0.2% during mid-day trading on Monday . The company traded as low as $324.69 and last traded at $327.68. Approximately 340,987 shares changed hands during trading, a decline of 84% from the average daily volume of 2,169,361 shares. The stock had previously closed at $328.45.

Analyst Ratings Changes

Several research firms recently commented on ETN. Jefferies Financial Group raised their target price on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Royal Bank of Canada cut their target price on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Barclays upped their price objective on shares of Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley started coverage on Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Eaton has an average rating of “Moderate Buy” and a consensus price target of $337.41.

Eaton Trading Down 0.3 %

The business’s 50-day moving average price is $301.03 and its 200-day moving average price is $313.82. The firm has a market capitalization of $130.91 billion, a PE ratio of 38.69, a price-to-earnings-growth ratio of 2.53 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 announced 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. The business 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%. As a group, analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

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

Insider Transactions at Eaton

In related news, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the sale, the insider now directly owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dorothy C. Thompson bought 2,205 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, for a total transaction 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 disclosure for this purchase can be found here. Insiders have sold 52,511 shares of company stock worth $15,809,326 over the last quarter. 0.53% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eaton

Institutional investors have recently bought and sold shares of the business. Capital World Investors lifted its position in Eaton by 323.8% during the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after acquiring an additional 2,439,270 shares in the last quarter. Jennison Associates LLC grew its holdings in Eaton by 2,857.4% during the 1st quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock valued at $394,752,000 after purchasing an additional 1,219,790 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in Eaton by 2,006.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company’s stock worth $232,326,000 after buying an additional 918,936 shares during the period. Swedbank AB acquired a new position in Eaton in the 2nd quarter worth $225,974,000. Finally, Assenagon Asset Management S.A. boosted its position in Eaton by 1,604.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock valued at $211,201,000 after buying an additional 634,059 shares during the last quarter. 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.