Insider Selling: Thomas Gross Sells 110,726 Shares of Eaton Co., PLC Stock (ETN)
Eaton Co., PLC (NYSE:ETN) Insider Thomas Gross unloaded 110,726 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $74.32, for a total value of $8,229,156.32. Following the completion of the transaction, the insider now directly owns 52,448 shares of the company’s stock, valued at approximately $3,897,935. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
ETN has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Eaton Co., PLC in a research note on Monday, April 28th. They now have a $78.00 price target on the stock. Separately, analysts at Morgan Stanley cut their price target on shares of Eaton Co., PLC from $90.00 to $89.00 in a research note on Monday, April 7th. Finally, analysts at Oppenheimer raised their price target on shares of Eaton Co., PLC from $82.00 to $85.00 in a research note on Tuesday, March 4th. They now have an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $80.75.
Shares of Eaton Co., PLC (NYSE:ETN) traded down 0.82% on Friday, hitting $73.42. 1,115,028 shares of the company’s stock traded hands. Eaton Co., PLC has a one year low of $61.23 and a one year high of $78.19. The stock’s 50-day moving average is $73.0 and its 200-day moving average is $73.4. The company has a market cap of $34.999 billion and a price-to-earnings ratio of 18.37.
Eaton Co., PLC (NYSE:ETN) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts expect that Eaton Co., PLC will post $4.75 EPS for the current fiscal year.
Eaton Corporation (NYSE:ETN) is a diversified power management company.
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