Traders Sell Eaton (ETN) on Strength (ETN)

Traders sold shares of Eaton Corporation, PLC (NYSE:ETN) on strength during trading hours on Friday. $34.32 million flowed into the stock on the tick-up and $77.53 million flowed out of the stock on the tick-down, for a money net flow of $43.21 million out of the stock. Of all stocks tracked, Eaton had the 13th highest net out-flow for the day. Eaton traded up $0.85 for the day and closed at $79.01

Several analysts have recently commented on the company. Stifel Nicolaus restated a “hold” rating and issued a $80.00 target price on shares of Eaton in a research note on Monday, December 11th. Citigroup lifted their price target on Eaton from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Jefferies Group lifted their price target on Eaton from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Wednesday, November 1st. Credit Suisse Group reiterated an “outperform” rating and set a $92.00 price target (up previously from $86.00) on shares of Eaton in a research note on Wednesday, November 1st. Finally, Oppenheimer reiterated a “hold” rating on shares of Eaton in a research note on Tuesday, October 31st. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $82.69.

The stock has a market capitalization of $34,440.00, a PE ratio of 18.12, a P/E/G ratio of 2.00 and a beta of 1.38. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.43.

Eaton (NYSE:ETN) last released its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $1.25 EPS for the quarter, meeting analysts’ consensus estimates of $1.25. The firm had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.12 billion. Eaton had a net margin of 14.21% and a return on equity of 12.89%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 EPS. sell-side analysts predict that Eaton Corporation, PLC will post 4.6 earnings per share for the current fiscal year.

In related news, insider Revathi Advaithi sold 23,743 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $78.36, for a total value of $1,860,501.48. Following the completion of the transaction, the insider now directly owns 31,028 shares in the company, valued at $2,431,354.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles E. Golden sold 4,311 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $76.03, for a total transaction of $327,765.33. Following the sale, the director now owns 20,275 shares of the company’s stock, valued at $1,541,508.25. The disclosure for this sale can be found here. Insiders sold 58,938 shares of company stock valued at $4,597,529 over the last quarter. 0.80% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Atlantic Trust Group LLC raised its stake in shares of Eaton by 39.4% during the third quarter. Atlantic Trust Group LLC now owns 55,814 shares of the industrial products company’s stock valued at $4,287,000 after acquiring an additional 15,761 shares during the last quarter. Fieldpoint Private Securities LLC bought a new position in shares of Eaton during the third quarter valued at about $130,000. Argent Capital Management LLC raised its stake in Eaton by 15.0% in the third quarter. Argent Capital Management LLC now owns 257,804 shares of the industrial products company’s stock worth $19,797,000 after buying an additional 33,566 shares in the last quarter. Apriem Advisors raised its stake in Eaton by 4.8% in the third quarter. Apriem Advisors now owns 97,349 shares of the industrial products company’s stock worth $7,475,000 after buying an additional 4,476 shares in the last quarter. Finally, ARGI Investment Services LLC raised its stake in Eaton by 7.8% in the third quarter. ARGI Investment Services LLC now owns 26,362 shares of the industrial products company’s stock worth $2,024,000 after buying an additional 1,905 shares in the last quarter. Institutional investors and hedge funds own 76.51% of the company’s stock.

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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.

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