Eaton Co. PLC (NYSE:ETN) Director Olivier Leonetti acquired 630 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were bought at an average cost of $79.08 per share, with a total value of $49,820.40. Following the purchase, the director now owns 127 shares in the company, valued at $10,043.16. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
NYSE ETN traded up $1.50 on Tuesday, reaching $79.92. The company had a trading volume of 2,048,087 shares, compared to its average volume of 2,468,527. The stock has a market cap of $33.18 billion, a PE ratio of 14.83, a P/E/G ratio of 1.53 and a beta of 1.47. Eaton Co. PLC has a 1 year low of $64.46 and a 1 year high of $89.46. The company has a quick ratio of 0.92, a current ratio of 1.47 and a debt-to-equity ratio of 0.42.
Eaton (NYSE:ETN) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.01. Eaton had a return on equity of 14.56% and a net margin of 10.06%. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same period in the prior year, the company posted $1.10 EPS. Eaton’s quarterly revenue was up 1.0% on a year-over-year basis. Sell-side analysts anticipate that Eaton Co. PLC will post 5.89 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend was Thursday, May 2nd. Eaton’s payout ratio is 52.69%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Financial Gravity Wealth Inc. acquired a new stake in Eaton in the first quarter worth $25,000. Destination Wealth Management increased its position in Eaton by 103.2% in the first quarter. Destination Wealth Management now owns 319 shares of the industrial products company’s stock worth $26,000 after buying an additional 162 shares during the period. Athena Capital Advisors LLC acquired a new stake in Eaton in the fourth quarter worth $27,000. Bremer Trust National Association acquired a new stake in Eaton in the fourth quarter worth $29,000. Finally, Alera Investment Advisors LLC increased its position in Eaton by 82.9% in the first quarter. Alera Investment Advisors LLC now owns 384 shares of the industrial products company’s stock worth $31,000 after buying an additional 174 shares during the period. 80.07% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on the company. Bank of America cut Eaton from a “buy” rating to a “neutral” rating and set a $88.00 target price for the company. in a report on Thursday, April 4th. Wells Fargo & Co boosted their target price on Eaton from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. They noted that the move was a valuation call. Vertical Research upgraded Eaton from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Morgan Stanley set a $82.00 target price on Eaton and gave the stock a “hold” rating in a report on Saturday, February 2nd. Finally, Robert W. Baird set a $89.00 target price on Eaton and gave the stock a “buy” rating in a report on Saturday, February 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. Eaton has a consensus rating of “Hold” and an average price target of $86.79.
Eaton Company Profile
Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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