Michael Yelton Sells 3,136 Shares of Eaton Co. plc (NYSE:ETN) Stock

Eaton Co. plc (NYSE:ETN - Get Free Report) insider Michael Yelton sold 3,136 shares of the business's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares in the company, valued at $1,186,411.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Eaton Stock Performance

Shares of NYSE:ETN traded up $5.93 during midday trading on Friday, reaching $307.02. The company had a trading volume of 2,320,013 shares, compared to its average volume of 2,169,083. The company's 50 day moving average price is $305.37 and its 200 day moving average price is $310.17. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $345.19. The stock has a market cap of $122.75 billion, a P/E ratio of 36.25, a P/E/G ratio of 2.47 and a beta of 1.02.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, sell-side analysts anticipate that Eaton Co. plc will post 10.66 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a dividend of $0.94 per share. The ex-dividend date was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.22%. Eaton's dividend payout ratio is presently 44.39%.

Institutional Investors Weigh In On Eaton

A number of hedge funds and other institutional investors have recently bought and sold shares of ETN. LifeSteps Financial Inc. bought a new position in Eaton in the 1st quarter valued at $25,000. Breakwater Investment Management raised its position in shares of Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company's stock worth $26,000 after buying an additional 78 shares in the last quarter. Atwood & Palmer Inc. raised its position in shares of Eaton by 142.9% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company's stock worth $27,000 after buying an additional 50 shares in the last quarter. Proffitt & Goodson Inc. bought a new stake in Eaton during the second quarter valued at $29,000. Finally, LGT Financial Advisors LLC bought a new position in Eaton in the 2nd quarter worth about $33,000. Institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ETN shares. Barclays boosted their target price on shares of Eaton from $318.00 to $319.00 and gave the company an "equal weight" rating in a research report on Friday, August 2nd. Raymond James assumed coverage on Eaton in a research report on Friday, June 28th. They issued an "outperform" rating and a $375.00 target price for the company. Evercore ISI cut their price target on Eaton from $357.00 to $333.00 and set an "outperform" rating on the stock in a report on Monday, August 19th. Jefferies Financial Group upped their target price on Eaton from $370.00 to $385.00 and gave the stock a "buy" rating in a research report on Thursday, July 11th. Finally, HSBC boosted their price target on shares of Eaton from $240.00 to $280.00 and gave the company a "hold" rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $328.00.

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.