Eaton Corporation, PLC (NYSE:ETN – Get Free Report) Director Gerald Johnson purchased 215 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $419.02 per share, for a total transaction of $90,089.30. Following the transaction, the director directly owned 1,629 shares in the company, valued at approximately $682,583.58. This trade represents a 15.21% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Gerald Johnson also recently made the following trade(s):
- On Friday, May 8th, Gerald Johnson acquired 746 shares of Eaton stock. The stock was acquired at an average cost of $402.29 per share, for a total transaction of $300,108.34.
Eaton Trading Down 4.2%
NYSE ETN opened at $401.61 on Wednesday. The business has a 50 day simple moving average of $382.23 and a 200 day simple moving average of $361.53. The stock has a market capitalization of $155.95 billion, a P/E ratio of 39.26, a P/E/G ratio of 2.69 and a beta of 1.24. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.19 and a quick ratio of 0.75. Eaton Corporation, PLC has a one year low of $311.90 and a one year high of $435.43.
Eaton Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 8th will be given a $1.10 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $4.40 annualized dividend and a yield of 1.1%. Eaton’s dividend payout ratio (DPR) is presently 43.01%.
Hedge Funds Weigh In On Eaton
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Eaton in the 4th quarter worth about $97,989,000. SG Americas Securities LLC boosted its stake in Eaton by 438.9% in the 4th quarter. SG Americas Securities LLC now owns 364,877 shares of the industrial products company’s stock worth $116,217,000 after purchasing an additional 297,166 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its position in Eaton by 112.6% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 336,060 shares of the industrial products company’s stock valued at $120,199,000 after acquiring an additional 178,000 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich boosted its position in shares of Eaton by 24,986.3% during the first quarter. Munich Reinsurance Co Stock Corp in Munich now owns 154,281 shares of the industrial products company’s stock valued at $55,182,000 after buying an additional 153,666 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC raised its holdings in shares of Eaton by 23.1% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 310,859 shares of the industrial products company’s stock valued at $99,012,000 after purchasing an additional 58,281 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.
Analyst Ratings Changes
ETN has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on Eaton from $406.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Barclays upped their price target on Eaton from $340.00 to $392.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada lifted their price objective on shares of Eaton from $457.00 to $484.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Morgan Stanley reissued an “overweight” rating and issued a $500.00 price target on shares of Eaton in a report on Sunday. Finally, HSBC raised Eaton from a “hold” rating to a “buy” rating and set a $400.00 price objective for the company in a research note on Friday, January 16th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $420.95.
Get Our Latest Research Report on Eaton
About Eaton
Eaton (NYSE: ETN) is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company’s offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.
Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.
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