Traders Buy Shares of Eaton (ETN) on Weakness

Traders bought shares of Eaton Co. PLC (NYSE:ETN) on weakness during trading hours on Friday. $124.41 million flowed into the stock on the tick-up and $39.45 million flowed out of the stock on the tick-down, for a money net flow of $84.96 million into the stock. Of all companies tracked, Eaton had the 10th highest net in-flow for the day. Eaton traded down ($2.99) for the day and closed at $79.02

A number of research firms recently weighed in on ETN. Zacks Investment Research cut Eaton from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $80.00 price target (down previously from $85.00) on shares of Eaton in a report on Thursday, January 3rd. Vertical Research raised Eaton from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Morgan Stanley set a $82.00 price target on Eaton and gave the stock a “hold” rating in a report on Saturday, February 2nd. Finally, Wells Fargo & Co upped their price target on Eaton from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $86.38.

The firm has a market cap of $34.79 billion, a P/E ratio of 14.66, a P/E/G ratio of 1.50 and a beta of 1.48. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.47 and a quick ratio of 0.93.



Eaton (NYSE:ETN) last announced its earnings results on Thursday, January 31st. The industrial products company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. Eaton had a return on equity of 14.06% and a net margin of 9.93%. The business had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.42 billion. Research analysts anticipate 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. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.59%. Eaton’s payout ratio is currently 52.69%.

In related news, insider Curtis J. Hutchins sold 12,000 shares of the stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Curtis J. Hutchins sold 37,625 shares of the stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $76.02, for a total value of $2,860,252.50. Following the completion of the sale, the insider now directly owns 15,872 shares of the company’s stock, valued at approximately $1,206,589.44. The disclosure for this sale can be found here. Insiders have sold 73,214 shares of company stock valued at $5,709,455 in the last three months. Insiders own 0.50% of the company’s stock.

Several large investors have recently bought and sold shares of ETN. Migdal Insurance & Financial Holdings Ltd. grew its position in Eaton by 91.8% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,485 shares of the industrial products company’s stock worth $476,000 after acquiring an additional 2,625 shares during the period. FormulaFolio Investments LLC purchased a new position in Eaton in the third quarter worth approximately $201,000. Jupiter Asset Management Ltd. purchased a new position in Eaton in the third quarter worth approximately $1,147,000. Bank of New York Mellon Corp grew its position in Eaton by 9.4% in the third quarter. Bank of New York Mellon Corp now owns 6,820,730 shares of the industrial products company’s stock worth $591,563,000 after acquiring an additional 586,855 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Eaton by 1.4% in the third quarter. PNC Financial Services Group Inc. now owns 885,566 shares of the industrial products company’s stock worth $76,805,000 after acquiring an additional 12,176 shares during the period. 76.39% of the stock is owned by hedge funds and other institutional investors.

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Eaton Company Profile (NYSE:ETN)

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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