Eaton Corporation, PLC (NYSE:ETN) insider Nandakumar Cheruvatath sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $77.50, for a total transaction of $775,000.00. Following the transaction, the insider now directly owns 16,571 shares in the company, valued at approximately $1,284,252.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Nandakumar Cheruvatath also recently made the following trade(s):

  • On Monday, December 4th, Nandakumar Cheruvatath sold 74 shares of Eaton stock. The shares were sold at an average price of $76.41, for a total transaction of $5,654.34.

Shares of Eaton Corporation, PLC (ETN) traded up $0.03 during mid-day trading on Monday, reaching $77.29. 2,363,700 shares of the company were exchanged, compared to its average volume of 2,321,842. Eaton Corporation, PLC has a fifty-two week low of $66.60 and a fifty-two week high of $82.34. The company has a market capitalization of $34,050.00, a price-to-earnings ratio of 17.25, a P/E/G ratio of 1.99 and a beta of 1.38. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.43 and a quick ratio of 1.02.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.25. Eaton had a net margin of 14.21% and a return on equity of 12.89%. The business had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.12 billion. During the same quarter in the previous year, the firm posted $1.16 earnings per share. Eaton’s revenue was up 6.4% compared to the same quarter last year. equities analysts anticipate that Eaton Corporation, PLC will post 4.6 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Friday, November 3rd were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Thursday, November 2nd. Eaton’s dividend payout ratio (DPR) is currently 55.05%.

Hedge funds have recently made changes to their positions in the stock. Cable Hill Partners LLC increased its position in Eaton by 174.8% during the third quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 867 shares during the period. Fieldpoint Private Securities LLC bought a new position in Eaton during the third quarter worth $130,000. Captrust Financial Advisors bought a new position in Eaton during the second quarter worth $133,000. Harfst & Associates Inc. increased its position in Eaton by 21.8% during the second quarter. Harfst & Associates Inc. now owns 1,798 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 322 shares during the period. Finally, Acrospire Investment Management LLC increased its position in Eaton by 325.9% during the second quarter. Acrospire Investment Management LLC now owns 2,091 shares of the industrial products company’s stock worth $163,000 after acquiring an additional 1,600 shares during the period. 76.65% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently commented on ETN. Citigroup lifted their price target on shares of Eaton from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Credit Suisse Group reissued an “outperform” rating and issued a $92.00 price target (up previously from $86.00) on shares of Eaton in a research report on Wednesday, November 1st. ValuEngine raised shares of Eaton from a “hold” rating to a “buy” rating in a research report on Friday, September 15th. Buckingham Research began coverage on shares of Eaton in a research report on Tuesday, October 17th. They issued a “neutral” rating and a $82.00 price target on the stock. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $85.00 price target on shares of Eaton in a research report on Friday, November 3rd. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $82.69.

ILLEGAL ACTIVITY NOTICE: “Nandakumar Cheruvatath Sells 10,000 Shares of Eaton Corporation, PLC (ETN) Stock” was first published by American Banking News and is owned by of American Banking News. If you are reading this piece on another site, it was stolen and reposted in violation of international copyright legislation. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/12/11/nandakumar-cheruvatath-sells-10000-shares-of-eaton-corporation-plc-etn-stock.html.

About Eaton

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.

Insider Buying and Selling by Quarter for Eaton (NYSE:ETN)

Receive News & Ratings for Eaton Corporation PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton Corporation PLC and related companies with MarketBeat.com's FREE daily email newsletter.