Eaton Co. PLC (NYSE:ETN) Insider Ken D. Semelsberger Sells 17,000 Shares

Eaton Co. PLC (NYSE:ETN) insider Ken D. Semelsberger sold 17,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $88.69, for a total transaction of $1,507,730.00. Following the transaction, the insider now directly owns 69,936 shares of the company’s stock, valued at approximately $6,202,623.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ETN stock traded down $1.01 during midday trading on Monday, reaching $86.46. The company had a trading volume of 1,558,177 shares, compared to its average volume of 2,389,144. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.83 and a quick ratio of 1.18. Eaton Co. PLC has a 1 year low of $64.46 and a 1 year high of $89.46. The company has a market capitalization of $36.12 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.70 and a beta of 1.45. The firm has a 50-day moving average price of $79.95 and a 200-day moving average price of $80.60.

Eaton (NYSE:ETN) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $1.53 EPS for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.02. Eaton had a net margin of 10.16% and a return on equity of 14.88%. The business had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $5.63 billion. During the same quarter in the previous year, the company earned $1.39 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts predict that Eaton Co. PLC will post 5.86 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in ETN. Grove Bank & Trust boosted its stake in shares of Eaton by 1.3% in the 2nd quarter. Grove Bank & Trust now owns 9,343 shares of the industrial products company’s stock valued at $778,000 after purchasing an additional 124 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in shares of Eaton by 11.3% in the 1st quarter. Cornerstone Advisors Inc. now owns 1,227 shares of the industrial products company’s stock valued at $99,000 after purchasing an additional 125 shares in the last quarter. Holderness Investments Co. boosted its stake in shares of Eaton by 1.1% in the 1st quarter. Holderness Investments Co. now owns 12,712 shares of the industrial products company’s stock valued at $1,024,000 after purchasing an additional 137 shares in the last quarter. Unison Advisors LLC boosted its stake in shares of Eaton by 0.9% in the 2nd quarter. Unison Advisors LLC now owns 16,186 shares of the industrial products company’s stock valued at $1,348,000 after purchasing an additional 138 shares in the last quarter. Finally, Iowa State Bank boosted its stake in shares of Eaton by 0.4% in the 2nd quarter. Iowa State Bank now owns 38,781 shares of the industrial products company’s stock valued at $3,230,000 after purchasing an additional 140 shares in the last quarter. 77.40% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently commented on the stock. Barclays reaffirmed a “sell” rating and set a $76.00 price objective on shares of Eaton in a research note on Thursday, June 6th. Robert W. Baird cut shares of Eaton from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $89.00 to $82.00 in a research note on Tuesday, September 3rd. Royal Bank of Canada set a $84.00 price objective on shares of Eaton and gave the company a “hold” rating in a research note on Wednesday, July 31st. Morgan Stanley boosted their price objective on shares of Eaton from $88.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank set a $96.00 price objective on shares of Eaton and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $87.91.

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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