Eaton (NYSE:ETN) Shares Down 0.3% – Should You Sell?

Eaton Co. plc (NYSE:ETN) shares were down 0.3% on Friday . The stock traded as low as $357.41 and last traded at $357.73. Approximately 256,477 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 2,078,399 shares. The stock had previously closed at $358.64.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of recent analyst reports. Citigroup upped their price target on Eaton from $394.00 to $440.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Bank of America upped their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Raymond James dropped their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Jefferies Financial Group increased their price objective on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Morgan Stanley assumed coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Four 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 presently has a consensus rating of “Moderate Buy” and an average price target of $367.83.

Eaton Stock Performance

The firm’s fifty day simple moving average is $355.79 and its 200 day simple moving average is $326.62. The company has a market capitalization of $140.70 billion, a PE ratio of 37.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

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

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is 40.00%.

Insider Buying and Selling

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,981 shares of company stock valued at $24,100,317. Corporate insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ETN. Breakwater Investment Management raised its position in Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 78 shares during the period. Proffitt & Goodson Inc. acquired a new position in shares of Eaton during the 2nd quarter worth about $29,000. Groupama Asset Managment lifted its stake in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares in the last quarter. LGT Financial Advisors LLC acquired a new stake in Eaton in the 2nd quarter worth about $33,000. Finally, Morse Asset Management Inc purchased a new stake in Eaton during the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors 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.