Eaton Co. PLC (ETN) Insider Curtis J. Hutchins Sells 37,625 Shares of Stock

Eaton Co. PLC (NYSE:ETN) insider Curtis J. Hutchins sold 37,625 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $76.02, for a total value of $2,860,252.50. Following the completion of the transaction, the insider now owns 15,872 shares of the company’s stock, valued at $1,206,589.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

ETN opened at $75.63 on Tuesday. Eaton Co. PLC has a 12-month low of $64.46 and a 12-month high of $89.46. The company has a market capitalization of $32.86 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.40 and a beta of 1.45. The company has a quick ratio of 0.93, a current ratio of 1.47 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, January 31st. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.03. Eaton had a return on equity of 14.06% and a net margin of 9.93%. The company had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.42 billion. As a group, equities research analysts anticipate that Eaton Co. PLC will post 5.87 earnings per share for the current fiscal year.

A number of research analysts have weighed in on the company. Robert W. Baird set a $89.00 price target on Eaton and gave the company a “buy” rating in a research note on Saturday, February 2nd. Morgan Stanley set a $82.00 price target on Eaton and gave the company a “hold” rating in a research note on Saturday, February 2nd. Zacks Investment Research downgraded Eaton from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. Wolfe Research downgraded Eaton from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 8th. Finally, Barclays decreased their price target on Eaton from $75.00 to $73.00 and set an “underweight” rating for the company in a research note on Monday, January 7th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $86.00.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. lifted its holdings in Eaton by 3.8% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 235,152 shares of the industrial products company’s stock worth $20,394,000 after purchasing an additional 8,651 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Eaton by 10.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,233,875 shares of the industrial products company’s stock worth $465,919,000 after purchasing an additional 611,053 shares during the last quarter. Factory Mutual Insurance Co. lifted its holdings in Eaton by 26.2% during the 4th quarter. Factory Mutual Insurance Co. now owns 798,556 shares of the industrial products company’s stock worth $54,829,000 after purchasing an additional 165,700 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Eaton by 36.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 21,888 shares of the industrial products company’s stock worth $1,636,000 after purchasing an additional 5,814 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its holdings in Eaton by 14.9% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 268,929 shares of the industrial products company’s stock worth $3,462,000 after purchasing an additional 34,925 shares during the last quarter. 79.17% of the stock is owned by institutional investors.

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About Eaton

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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Insider Buying and Selling by Quarter for Eaton (NYSE:ETN)

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