Craig Arnold Sells 61,569 Shares of Eaton Co. plc (NYSE:ETN) 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 sale, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Eaton Price Performance

Shares of ETN stock opened at $366.67 on Friday. The stock has a 50 day moving average price of $328.30 and a 200 day moving average price of $319.74. Eaton Co. plc has a 52-week low of $217.61 and a 52-week high of $369.29. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The firm has a market capitalization of $144.91 billion, a P/E ratio of 39.01, a P/E/G ratio of 2.88 and a beta of 1.01.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.47 earnings per share. As a group, sell-side analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio is presently 40.00%.

Institutional Trading of Eaton

Large investors have recently modified their holdings of the company. LPL Financial LLC raised its position in Eaton by 2.3% during the 3rd quarter. LPL Financial LLC now owns 488,214 shares of the industrial products company’s stock valued at $161,814,000 after purchasing an additional 10,939 shares in the last quarter. Cypress Capital Group raised its holdings in shares of Eaton by 7.0% in the third quarter. Cypress Capital Group now owns 10,629 shares of the industrial products company’s stock valued at $3,523,000 after acquiring an additional 697 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Eaton by 777.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 303,932 shares of the industrial products company’s stock worth $100,735,000 after acquiring an additional 269,276 shares during the period. King Luther Capital Management Corp grew its holdings in Eaton by 15.7% during the 3rd quarter. King Luther Capital Management Corp now owns 3,848 shares of the industrial products company’s stock worth $1,275,000 after acquiring an additional 521 shares in the last quarter. Finally, Cornerstone Advisors LLC increased its position in Eaton by 55.1% during the 3rd quarter. Cornerstone Advisors LLC now owns 18,300 shares of the industrial products company’s stock valued at $6,065,000 after purchasing an additional 6,500 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on ETN shares. Evercore ISI reduced their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Mizuho lifted their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Barclays dropped their price target on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Raymond James lowered their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and an average price target of $343.28.

About Eaton

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.