Eaton Co. plc (NYSE:ETN) Short Interest Update

Eaton Co. plc (NYSE:ETNGet Free Report) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 3,960,000 shares, a decrease of 7.7% from the December 15th total of 4,290,000 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,810,000 shares, the days-to-cover ratio is currently 2.2 days.

Insider Buying and Selling at Eaton

In other Eaton news, insider Sternadt Paulo Ruiz sold 2,639 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $228.05, for a total transaction of $601,823.95. Following the sale, the insider now owns 11,636 shares in the company, valued at approximately $2,653,589.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is owned by insiders.

Institutional Trading of Eaton

Several hedge funds and other institutional investors have recently bought and sold shares of ETN. RB Capital Management LLC increased its holdings in Eaton by 3.5% in the first quarter. RB Capital Management LLC now owns 2,759 shares of the industrial products company’s stock valued at $419,000 after buying an additional 94 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Eaton by 74.8% during the first quarter. Canada Pension Plan Investment Board now owns 101,412 shares of the industrial products company’s stock valued at $15,390,000 after purchasing an additional 43,381 shares during the last quarter. Baird Financial Group Inc. grew its holdings in shares of Eaton by 0.6% during the first quarter. Baird Financial Group Inc. now owns 374,204 shares of the industrial products company’s stock valued at $56,790,000 after purchasing an additional 2,057 shares during the last quarter. Mather Group LLC. grew its holdings in shares of Eaton by 9.1% during the first quarter. Mather Group LLC. now owns 2,682 shares of the industrial products company’s stock valued at $407,000 after purchasing an additional 223 shares during the last quarter. Finally, Ergoteles LLC bought a new position in shares of Eaton during the first quarter valued at approximately $1,188,000. 81.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. StockNews.com assumed coverage on Eaton in a report on Thursday, October 5th. They set a “buy” rating on the stock. Royal Bank of Canada boosted their price target on Eaton from $215.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 1st. Morgan Stanley boosted their price target on Eaton from $235.00 to $238.00 and gave the company an “overweight” rating in a research report on Monday, September 25th. JPMorgan Chase & Co. raised Eaton from a “neutral” rating to an “overweight” rating and set a $230.00 price target for the company in a research report on Friday, October 6th. Finally, Wells Fargo & Company boosted their price target on Eaton from $220.00 to $257.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $222.85.

Get Our Latest Stock Report on ETN

Eaton Trading Down 1.9 %

NYSE:ETN opened at $237.26 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.96 and a current ratio of 1.45. Eaton has a one year low of $150.86 and a one year high of $244.27. The business’s 50-day simple moving average is $233.37 and its 200 day simple moving average is $220.26. The stock has a market cap of $94.74 billion, a price-to-earnings ratio of 31.76, a price-to-earnings-growth ratio of 2.05 and a beta of 1.05.

Eaton (NYSE:ETNGet Free Report) last released its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.34 by $0.13. Eaton had a return on equity of 19.49% and a net margin of 13.24%. The business had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.89 billion. During the same quarter in the previous year, the firm posted $2.02 earnings per share. The company’s revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts predict that Eaton will post 9.03 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Monday, November 6th were issued a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 1.45%. The ex-dividend date was Friday, November 3rd. Eaton’s dividend payout ratio is currently 46.05%.

Eaton Company Profile

(Get Free Report)

Eaton Corporation plc operates as a power management company worldwide. The company's Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.

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