Insider Selling: Eaton Co. PLC (ETN) Insider Sells 12,000 Shares of Stock

Eaton Co. PLC (NYSE:ETN) insider Curtis J. Hutchins sold 12,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $80.60, for a total value of $967,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Shares of ETN traded down $0.41 during trading hours on Friday, reaching $80.58. The stock had a trading volume of 4,940,006 shares, compared to its average volume of 2,808,326. The company has a quick ratio of 0.93, a current ratio of 1.47 and a debt-to-equity ratio of 0.42. Eaton Co. PLC has a 52 week low of $64.46 and a 52 week high of $89.46. The stock has a market cap of $34.31 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.48 and a beta of 1.48.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, January 31st. The industrial products company reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.03. Eaton had a net margin of 9.93% and a return on equity of 14.06%. The business had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.42 billion. On average, equities research analysts expect that Eaton Co. PLC will post 5.86 earnings per share for the current fiscal year.



The company also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Saturday, March 9th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Thursday, March 7th. Eaton’s dividend payout ratio (DPR) is presently 52.69%.

A number of research analysts have recently weighed in on the company. Stephens assumed coverage on Eaton in a research note on Monday, November 19th. They issued an “overweight” rating and a $96.00 price target on the stock. Credit Suisse Group reissued an “outperform” rating and issued a $80.00 price target (down previously from $85.00) on shares of Eaton in a research note on Thursday, January 3rd. Zacks Investment Research downgraded Eaton from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Barclays cut their price target on Eaton from $75.00 to $73.00 and set an “underweight” rating on the stock in a research note on Monday, January 7th. Finally, Wolfe Research downgraded Eaton from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 8th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $86.38.

A number of hedge funds have recently added to or reduced their stakes in ETN. Oregon Public Employees Retirement Fund increased its holdings in Eaton by 8,639.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,674,949 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 9,564,240 shares in the last quarter. Norges Bank bought a new position in shares of Eaton in the 4th quarter valued at about $524,126,000. BlackRock Inc. grew its holdings in shares of Eaton by 6.7% in the 4th quarter. BlackRock Inc. now owns 31,171,908 shares of the industrial products company’s stock valued at $2,140,263,000 after acquiring an additional 1,955,724 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Eaton by 9.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,820,730 shares of the industrial products company’s stock valued at $591,563,000 after acquiring an additional 586,855 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Eaton in the 3rd quarter valued at about $49,250,000. Hedge funds and other institutional investors own 74.88% of the company’s stock.

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About Eaton

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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