Eaton Co. PLC (NYSE:ETN) Director Olivier Leonetti purchased 630 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were purchased at an average cost of $79.08 per share, for a total transaction of $49,820.40. Following the completion of the purchase, the director now directly owns 127 shares in the company, valued at $10,043.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Eaton stock opened at $78.67 on Thursday. The company has a current ratio of 1.47, a quick ratio of 0.92 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $33.51 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 1.54 and a beta of 1.46. Eaton Co. PLC has a 52 week low of $64.46 and a 52 week high of $89.46.
Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.01. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.38 billion. Eaton had a return on equity of 14.56% and a net margin of 10.06%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.10 EPS. As a group, analysts predict that Eaton Co. PLC will post 5.89 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were paid a dividend of $0.71 per share. The ex-dividend date was Thursday, May 2nd. This represents a $2.84 annualized dividend and a yield of 3.61%. Eaton’s dividend payout ratio (DPR) is presently 52.69%.
ETN has been the subject of a number of research analyst reports. Wells Fargo & Co lifted their price target on shares of Eaton from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. They noted that the move was a valuation call. Vertical Research raised shares of Eaton from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Bank of America downgraded shares of Eaton from a “buy” rating to a “neutral” rating and set a $88.00 price target for the company. in a report on Thursday, April 4th. Finally, Barclays reissued a “sell” rating and set a $76.00 price target on shares of Eaton in a report on Thursday, June 6th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $87.00.
A number of large investors have recently added to or reduced their stakes in ETN. Financial Gravity Wealth Inc. bought a new stake in shares of Eaton in the 1st quarter valued at approximately $25,000. Destination Wealth Management grew its stake in shares of Eaton by 103.2% in the 1st quarter. Destination Wealth Management now owns 319 shares of the industrial products company’s stock valued at $26,000 after buying an additional 162 shares in the last quarter. Athena Capital Advisors LLC bought a new stake in shares of Eaton in the 4th quarter valued at approximately $27,000. Bremer Trust National Association bought a new stake in shares of Eaton in the 4th quarter valued at approximately $29,000. Finally, Alera Investment Advisors LLC boosted its position in Eaton by 82.9% during the first quarter. Alera Investment Advisors LLC now owns 384 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 174 shares during the period. 76.71% of the stock is currently owned by institutional investors.
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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