Eaton (NYSE:ETN) Trading Down 0.8%

Eaton Co. plc (NYSE:ETN)’s share price fell 0.8% during mid-day trading on Thursday . The stock traded as low as $283.94 and last traded at $286.40. Approximately 238,573 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 2,162,586 shares. The stock had previously closed at $288.77.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Evercore ISI dropped their target price 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. Barclays lifted their price target on shares of Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Raymond James initiated coverage on shares of Eaton in a research note on Friday, June 28th. They set an “outperform” rating and a $375.00 price target on the stock. Royal Bank of Canada lowered their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Morgan Stanley assumed coverage on Eaton in a research note on Friday. They set an “overweight” rating and a $370.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $335.76.

Eaton Stock Down 0.3 %

The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $113.93 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 2.35 and a beta of 1.01. The firm has a 50-day moving average of $302.48 and a two-hundred day moving average of $310.93.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. On average, equities research analysts forecast that Eaton Co. plc will post 10.74 EPS for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a $0.94 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.32%. Eaton’s dividend payout ratio is presently 44.39%.

Insider Activity

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Karenann K. Terrell purchased 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average cost of $298.97 per share, with a total value of $149,485.00. Following the transaction, the director now directly owns 500 shares of the company’s stock, valued at $149,485. The disclosure for this purchase can be found here. Insiders sold a total of 52,511 shares of company stock worth $15,809,326 over the last 90 days. 0.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eaton

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Congress Wealth Management LLC DE lifted its stake in Eaton by 8.1% in the 4th quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock valued at $18,479,000 after purchasing an additional 5,725 shares during the last quarter. Norden Group LLC bought a new stake in shares of Eaton during the first quarter worth $2,176,000. Weiss Asset Management LP bought a new position in Eaton in the fourth quarter valued at about $1,001,000. Prospector Partners LLC lifted its holdings in shares of Eaton by 0.6% during the fourth quarter. Prospector Partners LLC now owns 71,307 shares of the industrial products company’s stock worth $17,172,000 after purchasing an additional 415 shares during the period. Finally, Griffin Asset Management Inc. bought a new stake in Eaton in the first quarter valued at approximately $813,000. 82.97% of the stock is owned by institutional investors.

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.