Insider Selling: Eaton Co. plc (NYSE:ETN) Insider Sells 1,412 Shares of Stock

Eaton Co. plc (NYSE:ETN) insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Eaton Price Performance

Eaton stock opened at $371.98 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a 1 year low of $224.52 and a 1 year high of $379.99. The stock has a market capitalization of $147.01 billion, a P/E ratio of 39.57, a P/E/G ratio of 2.99 and a beta of 1.01. The company’s fifty day moving average price is $347.47 and its 200 day moving average price is $324.22.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.47 EPS. As a group, equities research analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.01%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Morgan Stanley started coverage on shares of Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Bank of America boosted their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Citigroup initiated coverage on shares of Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 target price for the company. Finally, Wells Fargo & Company increased their price objective on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average price target of $357.83.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ETN. Breakwater Investment Management grew its position in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 78 shares during the last quarter. Proffitt & Goodson Inc. purchased a new position in Eaton in the 2nd quarter valued at approximately $29,000. Morse Asset Management Inc acquired a new position in Eaton during the third quarter worth $33,000. LGT Financial Advisors LLC purchased a new stake in Eaton during the second quarter worth $33,000. Finally, West Financial Advisors LLC purchased a new position in shares of Eaton in the third quarter valued at $35,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.