Nandakumar Cheruvatath Sells 10,000 Shares of Eaton Corporation, PLC (ETN) Stock
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.
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.
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.
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