Revathi Advaithi Sells 23,743 Shares of Eaton Corporation, PLC (ETN) Stock
Eaton Corporation, PLC (NYSE:ETN) insider Revathi Advaithi sold 23,743 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $78.36, for a total value of $1,860,501.48. Following the completion of the transaction, the insider now directly owns 31,028 shares of the company’s stock, valued at approximately $2,431,354.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Eaton Corporation, PLC (ETN) opened at $76.89 on Wednesday. The stock has a market capitalization of $34,340.37, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 1.92 and a beta of 1.39. Eaton Corporation, PLC has a twelve month low of $63.94 and a twelve month high of $82.34. The company has a current ratio of 1.43, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.
Eaton Corporation, PLC (NYSE:ETN) last posted its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.25. The firm had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.12 billion. Eaton Corporation, PLC had a return on equity of 12.89% and a net margin of 14.21%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 EPS. sell-side analysts anticipate that Eaton Corporation, PLC will post 4.6 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Friday, November 3rd will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Thursday, November 2nd. Eaton Corporation, PLC’s payout ratio is 37.68%.
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Several institutional investors have recently bought and sold shares of the business. Cable Hill Partners LLC lifted its holdings in shares of Eaton Corporation, PLC by 174.8% in the 3rd quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 867 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Eaton Corporation, PLC in the 2nd quarter worth $133,000. Harfst & Associates Inc. lifted its holdings in shares of Eaton Corporation, PLC by 21.8% in the 2nd quarter. Harfst & Associates Inc. now owns 1,798 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 322 shares in the last quarter. Acrospire Investment Management LLC lifted its holdings in shares of Eaton Corporation, PLC by 325.9% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,091 shares of the industrial products company’s stock worth $163,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Cambridge Trust Co. bought a new position in shares of Eaton Corporation, PLC in the 1st quarter worth $200,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.
Several research analysts have recently issued reports on the company. BidaskClub downgraded Eaton Corporation, PLC from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. ValuEngine raised Eaton Corporation, PLC from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. J P Morgan Chase & Co downgraded Eaton Corporation, PLC from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $73.00 to $70.00 in a research note on Thursday, August 17th. Jefferies Group LLC upped their price objective on Eaton Corporation, PLC from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Wednesday, November 1st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $82.00 price objective on shares of Eaton Corporation, PLC in a research note on Thursday, October 12th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. Eaton Corporation, PLC currently has a consensus rating of “Hold” and a consensus price target of $82.86.
About Eaton Corporation, PLC
Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.
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