Taras G. Jr. Szmagala Sells 2,000 Shares of Eaton Co. plc (NYSE:ETN) Stock

Posted by Defense World Staff on Jun 9th, 2023

Eaton Co. plc (NYSE:ETN – Get Rating) insider Taras G. Jr. Szmagala sold 2,000 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $183.93, for a total value of $367,860.00. Following the completion of the sale, the insider now directly owns 7,300 shares of the company’s stock, valued at $1,342,689. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Eaton Stock Performance

ETN opened at $187.79 on Friday. The company has a market capitalization of $74.85 billion, a price-to-earnings ratio of 29.30, a price-to-earnings-growth ratio of 1.98 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.50 and a quick ratio of 0.91. Eaton Co. plc has a 1-year low of $122.50 and a 1-year high of $188.78. The business has a 50 day moving average price of $169.91 and a two-hundred day moving average price of $166.24.

Eaton (NYSE:ETN – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The industrial products company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.10. Eaton had a return on equity of 18.70% and a net margin of 12.00%. The company had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same quarter in the prior year, the firm earned $1.62 EPS. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. Research analysts predict that Eaton Co. plc will post 8.44 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Stockholders of record on Monday, May 8th were given a dividend of $0.86 per share. The ex-dividend date of this dividend was Friday, May 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.83%. Eaton’s dividend payout ratio (DPR) is presently 53.67%.

Institutional Investors Weigh In On Eaton

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Horan Securities Inc. lifted its holdings in shares of Eaton by 228.6% in the fourth quarter. Horan Securities Inc. now owns 161 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 112 shares in the last quarter. Hollencrest Capital Management purchased a new stake in shares of Eaton in the fourth quarter valued at $28,000. RFP Financial Group LLC purchased a new stake in shares of Eaton in the fourth quarter valued at $30,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Eaton in the fourth quarter valued at $30,000. Finally, WFA of San Diego LLC acquired a new position in shares of Eaton in the fourth quarter worth $31,000. Institutional investors and hedge funds own 80.19% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the subject of several research analyst reports. Bank of America boosted their price objective on Eaton from $180.00 to $200.00 in a report on Wednesday, March 8th. UBS Group upped their target price on Eaton from $205.00 to $210.00 in a report on Thursday, May 11th. 92 Resources reaffirmed a “maintains” rating on shares of Eaton in a report on Wednesday, May 3rd. Deutsche Bank Aktiengesellschaft upped their target price on Eaton from $188.00 to $189.00 and gave the company a “buy” rating in a report on Wednesday, April 12th. Finally, Barclays increased their price objective on Eaton from $145.00 to $159.00 in a report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $178.71.

Eaton Company Profile

(Get Rating)

Eaton Corp. Plc is a power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: Electrical Americas and Electrical Global, Aerospace, Vehicle, and eMobility. The Electrical Americas and Electrical Global segments engage in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service.