Eaton (NYSE:ETN) Stock Price Up 0.7%

Eaton Co. plc (NYSE:ETN - Get Free Report)'s stock price traded up 0.7% during mid-day trading on Wednesday . The company traded as high as $330.86 and last traded at $329.58. 295,817 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 2,170,673 shares. The stock had previously closed at $327.39.

Analyst Ratings Changes

Several research analysts recently commented on ETN shares. Citigroup began coverage on Eaton in a research note on Monday, September 16th. They issued a "buy" rating and a $348.00 price objective for the company. Barclays increased 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. Wells Fargo & Company lowered their price target on shares of Eaton from $320.00 to $315.00 and set an "equal weight" rating on the stock in a research report on Friday, August 2nd. Wolfe Research upgraded shares of Eaton from an "underperform" rating to a "peer perform" rating in a report on Friday, September 6th. Finally, Evercore ISI decreased their target price on shares of Eaton from $357.00 to $333.00 and set an "outperform" rating on the stock in a research note on Monday, August 19th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and a consensus price target of $337.41.

Eaton Price Performance

The stock has a 50-day simple moving average of $299.89 and a 200 day simple moving average of $313.12. The company has a market cap of $130.80 billion, a PE ratio of 38.68, a P/E/G ratio of 2.53 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Equities analysts expect that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.14%. Eaton's payout ratio is currently 44.39%.

Insider Activity at Eaton

In other news, Director Dorothy C. Thompson purchased 2,205 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now directly owns 2,205 shares of the company's stock, valued at $662,161.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Karenann K. Terrell bought 500 shares of the company's stock in a transaction on Wednesday, August 21st. The stock was bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the transaction, the director now directly owns 500 shares in the company, valued at approximately $149,485. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dorothy C. Thompson purchased 2,205 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now directly owns 2,205 shares of the company's stock, valued at $662,161.50. The disclosure for this purchase can be found here. In the last quarter, insiders sold 52,511 shares of company stock worth $15,809,326. Insiders own 0.53% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Capital World Investors grew its stake in shares of Eaton by 323.8% in the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company's stock worth $998,255,000 after acquiring an additional 2,439,270 shares in the last quarter. Jennison Associates LLC boosted its holdings in Eaton by 2,857.4% in the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company's stock valued at $394,752,000 after purchasing an additional 1,219,790 shares during the period. Balyasny Asset Management L.P. grew its stake in Eaton by 2,006.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company's stock worth $232,326,000 after purchasing an additional 918,936 shares in the last quarter. Swedbank AB purchased a new stake in Eaton during the 2nd quarter worth about $225,974,000. Finally, Assenagon Asset Management S.A. raised its position in Eaton by 1,604.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company's stock valued at $211,201,000 after purchasing an additional 634,059 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Company Profile

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.