Eaton Co. plc (NYSE:ETN) Insider Craig Arnold Sells 61,569 Shares of Stock

Eaton Co. plc (NYSE:ETN) insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Eaton Stock Up 0.4 %

Shares of ETN opened at $360.58 on Friday. The stock’s 50-day moving average price is $325.92 and its two-hundred day moving average price is $319.05. Eaton Co. plc has a 12 month low of $215.64 and a 12 month high of $366.08. The company has a market capitalization of $142.50 billion, a PE ratio of 38.36, a PEG ratio of 2.66 and a beta of 1.01. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last announced its 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 business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.47 earnings per share. On average, analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ETN. Sanford C. Bernstein started coverage on Eaton in a report on Tuesday. They issued an “outperform” rating and a $382.00 price objective for the company. Morgan Stanley started coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Raymond James reduced their price objective 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. Citigroup began coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Finally, Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $343.28.

Hedge Funds Weigh In On Eaton

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its stake in shares of Eaton by 10.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,862 shares of the industrial products company’s stock valued at $582,000 after purchasing an additional 172 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Eaton by 19.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock worth $24,616,000 after buying an additional 12,689 shares in the last quarter. Stokes Family Office LLC grew its position in shares of Eaton by 26.9% during the 1st quarter. Stokes Family Office LLC now owns 9,782 shares of the industrial products company’s stock worth $3,059,000 after buying an additional 2,074 shares during the period. Motive Wealth Advisors acquired a new position in shares of Eaton during the 1st quarter valued at $212,000. Finally, Empowered Funds LLC boosted its stake in Eaton by 302.4% during the first quarter. Empowered Funds LLC now owns 23,273 shares of the industrial products company’s stock worth $7,277,000 after acquiring an additional 17,490 shares in 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.