Eaton (NYSE:ETN) Stock Price Down 0.1% – What’s Next?

Shares of Eaton Co. plc (NYSE:ETN) dropped 0.1% during mid-day trading on Thursday . The stock traded as low as $334.33 and last traded at $334.74. Approximately 412,448 shares traded hands during trading, a decline of 80% from the average daily volume of 2,076,344 shares. The stock had previously closed at $335.12.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Sanford C. Bernstein began coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Barclays boosted their target price on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Raymond James cut their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $374.00 target price on shares of Eaton in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average target price of $367.83.

Eaton Price Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The business has a fifty day moving average of $356.28 and a 200 day moving average of $327.04. The stock has a market cap of $133.63 billion, a PE ratio of 35.97, a P/E/G ratio of 2.74 and a beta of 1.03.

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

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.11%. Eaton’s payout ratio is 40.00%.

Insider Activity at Eaton

In related news, 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 in the company, valued at $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock valued at $27,660,117 over the last three months. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Eaton

A number of institutional investors have recently added to or reduced their stakes in the company. Strategic Wealth Partners Ltd. grew its holdings in Eaton by 3.0% during the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 30 shares during the period. Fairfield Financial Advisors LTD grew its holdings in shares of Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after buying an additional 30 shares during the period. Venturi Wealth Management LLC increased its position in shares of Eaton by 2.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock valued at $513,000 after buying an additional 32 shares in the last quarter. Austin Private Wealth LLC raised its stake in Eaton by 3.7% during the 3rd quarter. Austin Private Wealth LLC now owns 929 shares of the industrial products company’s stock worth $308,000 after buying an additional 33 shares during the period. Finally, Smithfield Trust Co lifted its holdings in Eaton by 0.6% during the third quarter. Smithfield Trust Co now owns 5,390 shares of the industrial products company’s stock worth $1,789,000 after acquiring an additional 33 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

About Eaton

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.