Traders sold shares of Eaton Co. (NYSE:ETN) on strength during trading hours on Thursday. $13.72 million flowed into the stock on the tick-up and $37.06 million flowed out of the stock on the tick-down, for a money net flow of $23.34 million out of the stock. Of all companies tracked, Eaton had the 0th highest net out-flow for the day. Eaton traded up $0.34 for the day and closed at $77.67
A number of analysts have recently issued reports on ETN shares. Zacks Investment Research raised Eaton from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Wednesday, April 4th. Stifel Nicolaus reissued a “buy” rating and set a $88.00 price objective on shares of Eaton in a research note on Wednesday, April 4th. Jefferies Group raised Eaton from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Monday, March 26th. ValuEngine raised Eaton from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Argus raised Eaton to a “buy” rating and boosted their price objective for the stock from $85.00 to $90.00 in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. Eaton presently has an average rating of “Hold” and an average price target of $86.33.
The company has a quick ratio of 1.00, a current ratio of 1.51 and a debt-to-equity ratio of 0.40. The stock has a market cap of $33.97 billion, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 1.51 and a beta of 1.37.
Eaton (NYSE:ETN) last posted its earnings results on Tuesday, May 1st. The industrial products company reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.03. Eaton had a return on equity of 12.77% and a net margin of 14.59%. The company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.11 billion. During the same quarter in the previous year, the business earned $0.96 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. analysts forecast that Eaton Co. will post 5.21 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 18th. Shareholders of record on Friday, May 4th were given a $0.66 dividend. The ex-dividend date of this dividend was Thursday, May 3rd. This represents a $2.64 dividend on an annualized basis and a yield of 3.36%. Eaton’s dividend payout ratio is currently 56.77%.
In other Eaton news, insider William J. Vanlandingham II sold 10,174 shares of Eaton stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $45.77, for a total value of $465,663.98. Following the sale, the insider now owns 13,963 shares in the company, valued at $639,086.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Deborah L. Mccoy sold 4,000 shares of Eaton stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $82.23, for a total value of $328,920.00. Following the completion of the sale, the director now owns 35,936 shares in the company, valued at approximately $2,955,017.28. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Carroll Financial Associates Inc. raised its holdings in shares of Eaton by 113.6% in the 4th quarter. Carroll Financial Associates Inc. now owns 2,805 shares of the industrial products company’s stock valued at $221,000 after buying an additional 1,492 shares during the period. Oakbrook Investments LLC purchased a new stake in shares of Eaton in the 4th quarter valued at $1,620,000. Cornerstone Investment Partners LLC raised its holdings in shares of Eaton by 100.0% in the 4th quarter. Cornerstone Investment Partners LLC now owns 23,850 shares of the industrial products company’s stock valued at $1,884,000 after buying an additional 11,925 shares during the period. MHI Funds LLC purchased a new stake in shares of Eaton in the 4th quarter valued at $3,282,000. Finally, Denali Advisors LLC raised its holdings in shares of Eaton by 109.6% in the 4th quarter. Denali Advisors LLC now owns 199,978 shares of the industrial products company’s stock valued at $15,800,000 after buying an additional 104,569 shares during the period. Institutional investors own 79.23% of the company’s stock.
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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