Dorothy C. Thompson Buys 1,655 Shares of Eaton Co. PLC (ETN) Stock

Eaton Co. PLC (NYSE:ETN) Director Dorothy C. Thompson purchased 1,655 shares of Eaton stock in a transaction dated Monday, May 13th. The stock was acquired at an average price of $78.54 per share, for a total transaction of $129,983.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Eaton stock opened at $79.15 on Wednesday. The stock has a market cap of $33.21 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 1.52 and a beta of 1.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.92 and a current ratio of 1.47. Eaton Co. PLC has a 52 week low of $64.46 and a 52 week high of $89.46.

Eaton (NYSE:ETN) last released its earnings results on Tuesday, April 30th. The industrial products company reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.01. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.38 billion. Eaton had a net margin of 10.06% and a return on equity of 14.56%. Eaton’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company earned $1.10 EPS. As a group, research analysts forecast that Eaton Co. PLC will post 5.89 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be paid a $0.71 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $2.84 annualized dividend and a dividend yield of 3.59%. Eaton’s dividend payout ratio is currently 52.69%.

Several analysts recently weighed in on ETN shares. Vertical Research upgraded shares of Eaton from a “hold” rating to a “buy” rating in a research report on Monday, March 4th. Robert W. Baird set a $89.00 price objective on shares of Eaton and gave the company a “buy” rating in a research report on Saturday, February 2nd. Wells Fargo & Co lifted their price objective on shares of Eaton from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. They noted that the move was a valuation call. Morgan Stanley set a $82.00 price objective on shares of Eaton and gave the company a “hold” rating in a research report on Saturday, February 2nd. Finally, Zacks Investment Research downgraded shares of Eaton from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $86.79.

Several institutional investors and hedge funds have recently made changes to their positions in ETN. Financial Gravity Wealth Inc. acquired a new position in shares of Eaton in the 1st quarter worth approximately $25,000. Highwater Wealth Management LLC acquired a new position in shares of Eaton in the 4th quarter worth approximately $26,000. Destination Wealth Management grew its stake in shares of Eaton by 103.2% in the 1st quarter. Destination Wealth Management now owns 319 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 162 shares during the last quarter. Athena Capital Advisors LLC acquired a new position in shares of Eaton in the 4th quarter worth approximately $27,000. Finally, Bremer Trust National Association acquired a new position in shares of Eaton in the 4th quarter worth approximately $29,000. 80.07% of the stock is currently 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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