Eaton Co. (NYSE:ETN) Director Deborah L. Mccoy sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $82.23, for a total transaction of $328,920.00. Following the sale, the director now directly owns 35,936 shares in the company, valued at $2,955,017.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
NYSE ETN opened at $75.97 on Friday. The firm has a market capitalization of $34,590.92, a PE ratio of 16.34, a PEG ratio of 1.54 and a beta of 1.36. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 1.13. Eaton Co. has a 1 year low of $69.82 and a 1 year high of $89.85.
Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.04. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.10 billion. Eaton had a net margin of 14.60% and a return on equity of 12.84%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.12 earnings per share. analysts forecast that Eaton Co. will post 5.17 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Monday, March 12th were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Friday, March 9th. This represents a $2.64 annualized dividend and a yield of 3.48%. This is a positive change from Eaton’s previous quarterly dividend of $0.60. Eaton’s dividend payout ratio is presently 56.77%.
A number of brokerages have recently issued reports on ETN. Zacks Investment Research upgraded shares of Eaton from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Wednesday. Stifel Nicolaus restated a “buy” rating and issued a $88.00 price target on shares of Eaton in a research report on Wednesday. Jefferies Group upgraded shares of Eaton from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Monday, March 26th. Bank of America upgraded shares of Eaton from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $81.03 to $85.00 in a research report on Thursday, March 8th. Finally, JPMorgan Chase upgraded shares of Eaton from an “underweight” rating to a “neutral” rating and set a $82.00 target price on the stock in a research report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Eaton presently has an average rating of “Hold” and an average target price of $86.64.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Independence Bank of Kentucky purchased a new stake in Eaton during the fourth quarter valued at about $118,000. Delpha Capital Management LLC purchased a new stake in Eaton during the fourth quarter valued at about $124,000. Fieldpoint Private Securities LLC purchased a new stake in Eaton during the third quarter valued at about $130,000. Montag A & Associates Inc. purchased a new stake in Eaton during the fourth quarter valued at about $201,000. Finally, Murphy Capital Management Inc. purchased a new stake in Eaton during the fourth quarter valued at about $201,000. Institutional investors own 78.90% of the company’s stock.
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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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