Eaton (NYSE:ETN) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

Eaton Co. plc (NYSE:ETN) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $327.84 and traded as high as $334.07. Eaton shares last traded at $332.38, with a volume of 1,400,269 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ETN. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Raymond James decreased their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Morgan Stanley began coverage on Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $374.00 target price on shares of Eaton in a research report on Friday, November 1st. Finally, Jefferies Financial Group lifted their price target on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $367.83.

Eaton Stock Performance

The business’s 50-day moving average is $355.47 and its 200-day moving average is $327.84. The company has a market capitalization of $131.36 billion, a PE ratio of 35.36, a PEG ratio of 2.74 and a beta of 1.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The company 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 firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.47 EPS. On average, research analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a dividend of $0.94 per share. The ex-dividend date was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.13%. Eaton’s dividend payout ratio is presently 40.00%.

Insider Buying and Selling

In related news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 of the company’s stock, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares in the company, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is owned by insiders.

Institutional Investors Weigh In On Eaton

Several hedge funds and other institutional investors have recently modified their holdings of ETN. Breakwater Investment Management increased its holdings in Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares during the period. Morse Asset Management Inc bought a new stake in Eaton during the third quarter valued at about $33,000. LGT Financial Advisors LLC bought a new position in Eaton in the second quarter worth about $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton during the third quarter valued at about $35,000. Finally, DT Investment Partners LLC bought a new stake in shares of Eaton in the 3rd quarter valued at about $37,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.