Eaton (NYSE:ETN) Shares Down 0.4% - Time to Sell?

Eaton Co. plc (NYSE:ETN - Get Free Report) shares traded down 0.4% during mid-day trading on Tuesday . The stock traded as low as $360.79 and last traded at $362.74. 272,576 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 2,081,297 shares. The stock had previously closed at $364.06.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Bank of America upped their target price on Eaton from $350.00 to $410.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Evercore ISI lowered Eaton from an "outperform" rating to an "inline" rating and upped their target price for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Morgan Stanley assumed coverage on Eaton in a research note on Friday, September 6th. They issued an "overweight" rating and a $370.00 target price for the company. Sanford C. Bernstein began coverage on Eaton in a research note on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 target price for the company. Finally, Jefferies Financial Group increased their price objective on Eaton from $400.00 to $440.00 and gave the company a "buy" rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $367.83.

Eaton Stock Performance

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 company has a market cap of $141.81 billion, a P/E ratio of 38.59, a P/E/G ratio of 2.81 and a beta of 1.03. The business has a fifty day moving average of $353.40 and a 200 day moving average of $325.99.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion during 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 company's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.47 earnings per share. On average, equities analysts predict that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Monday, November 4th. Eaton's dividend payout ratio is currently 40.00%.

Insider Transactions at Eaton

In related news, insider Craig Arnold sold 61,569 shares of Eaton 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 completion of the sale, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction dated 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 owns 31,200 shares of the company's stock, valued at $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,981 shares of company stock valued at $24,100,317 in the last quarter. 0.53% of the stock is owned by insiders.

Institutional Investors Weigh In On Eaton

A number of large investors have recently made changes to their positions in ETN. Great Valley Advisor Group Inc. grew its stake in shares of Eaton by 50.4% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,377 shares of the industrial products company's stock valued at $1,373,000 after purchasing an additional 1,467 shares during the period. ORG Partners LLC bought a new stake in shares of Eaton during the 2nd quarter valued at about $178,000. GPS Wealth Strategies Group LLC grew its stake in shares of Eaton by 5.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 2,614 shares of the industrial products company's stock valued at $820,000 after purchasing an additional 131 shares during the period. Cornerstone Wealth Management LLC grew its stake in shares of Eaton by 3.5% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,723 shares of the industrial products company's stock valued at $540,000 after purchasing an additional 58 shares during the period. Finally, Baader Bank Aktiengesellschaft grew its stake in shares of Eaton by 5.6% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 11,300 shares of the industrial products company's stock valued at $3,543,000 after purchasing an additional 600 shares during the period. 82.97% of the stock is currently 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.

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