Eaton (NYSE:ETN) Shares Down 0.3% - What's Next?

Eaton Co. plc (NYSE:ETN - Get Free Report) shares were down 0.3% on Monday . The stock traded as low as $353.75 and last traded at $354.87. Approximately 284,622 shares traded hands during trading, a decline of 86% from the average daily volume of 2,074,729 shares. The stock had previously closed at $356.01.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $374.00 target price on shares of Eaton in a report on Friday, November 1st. Raymond James decreased their target price on Eaton from $375.00 to $365.00 and set an "outperform" rating on the stock in a research report on Monday, September 9th. Citigroup raised their price target on Eaton from $394.00 to $440.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Wolfe Research upgraded shares of Eaton from an "underperform" rating to a "peer perform" rating in a research report on Friday, September 6th. Finally, Jefferies Financial Group raised their target price on shares of Eaton from $400.00 to $440.00 and gave the company a "buy" rating in a report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $367.83.

Eaton Stock Down 0.2 %

The firm has a market cap of $140.35 billion, a price-to-earnings ratio of 37.78, a PEG ratio of 2.74 and a beta of 1.03. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The firm has a fifty day moving average price of $356.20 and a 200-day moving average price of $326.73.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm's quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the company earned $2.47 EPS. As a group, sell-side analysts forecast that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a $0.94 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.06%. Eaton's dividend payout ratio (DPR) is presently 40.00%.

Insider Transactions at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,981 shares of company stock worth $24,100,317 in the last ninety days. Insiders own 0.53% of the company's stock.

Institutional Investors Weigh In On Eaton

Several hedge funds have recently modified their holdings of ETN. Breakwater Investment Management lifted its position in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company's stock worth $26,000 after purchasing an additional 78 shares in the last quarter. Proffitt & Goodson Inc. acquired a new position in Eaton in the 2nd quarter worth $29,000. Groupama Asset Managment boosted its position in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock valued at $31,000 after buying an additional 4,298 shares during the last quarter. LGT Financial Advisors LLC acquired a new position in shares of Eaton in the 2nd quarter valued at approximately $33,000. Finally, Morse Asset Management Inc acquired a new stake in Eaton in the third quarter valued at $33,000. 82.97% of the stock is currently owned by hedge funds and other 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.