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.
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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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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