Eaton Co. plc (NYSE:ETN) Insider Michael Yelton Sells 3,136 Shares

Eaton Co. plc (NYSE:ETN) insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the transaction, the insider now owns 3,914 shares of the company’s stock, valued at $1,186,411.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Eaton Price Performance

ETN traded up $5.93 on Friday, hitting $307.02. 2,320,013 shares of the stock were exchanged, compared to its average volume of 2,169,083. The business has a 50-day moving average of $305.37 and a two-hundred day moving average of $310.17. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $345.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.05. The firm has a market capitalization of $122.75 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 2.47 and a beta of 1.02.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Sell-side analysts forecast that Eaton Co. plc will post 10.66 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed 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. This represents a $3.76 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio is 44.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Raymond James initiated coverage on shares of Eaton in a research note on Friday, June 28th. They issued an “outperform” rating and a $375.00 target price for the company. Evercore ISI decreased their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. HSBC boosted their price objective on Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Barclays lifted their price target on shares of Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group raised their price objective on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $328.00.

Institutional Trading of Eaton

A number of hedge funds have recently added to or reduced their stakes in the stock. Gordian Capital Singapore Pte Ltd bought a new stake in Eaton during the 2nd quarter worth $182,000. Dana Investment Advisors Inc. increased its position in Eaton by 1.4% in the 2nd quarter. Dana Investment Advisors Inc. now owns 23,461 shares of the industrial products company’s stock valued at $7,356,000 after acquiring an additional 334 shares during the period. SPC Financial Inc. raised its stake in shares of Eaton by 5.8% during the second quarter. SPC Financial Inc. now owns 9,990 shares of the industrial products company’s stock valued at $3,132,000 after acquiring an additional 546 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of Eaton by 3.5% during the second quarter. Truist Financial Corp now owns 562,939 shares of the industrial products company’s stock worth $176,509,000 after purchasing an additional 18,783 shares during the period. Finally, EP Wealth Advisors LLC grew its stake in shares of Eaton by 5.1% in the second quarter. EP Wealth Advisors LLC now owns 19,785 shares of the industrial products company’s stock worth $6,204,000 after purchasing an additional 957 shares during the last quarter. 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.