Eaton Corporation, PLC (NYSE:ETN – Get Free Report) announced a quarterly dividend on Tuesday, April 21st. Stockholders of record on Friday, May 8th will be paid a dividend of 1.10 per share by the industrial products company on Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, May 8th.
Eaton has increased its dividend payment by an average of 0.1%per year over the last three years. Eaton has a payout ratio of 36.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Eaton to earn $15.29 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 28.8%.
Eaton Trading Up 0.7%
Shares of ETN opened at $410.36 on Wednesday. The firm’s 50-day moving average price is $373.36 and its 200-day moving average price is $357.85. The firm has a market capitalization of $159.21 billion, a price-to-earnings ratio of 39.23, a PEG ratio of 2.81 and a beta of 1.17. The company has a current ratio of 1.32, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45. Eaton has a 1-year low of $262.41 and a 1-year high of $418.38.
Insider Buying and Selling
In related news, insider Sternadt Paulo Ruiz sold 10,707 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $390.26, for a total transaction of $4,178,513.82. Following the sale, the insider owned 27,729 shares of the company’s stock, valued at $10,821,519.54. The trade was a 27.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.10% of the stock is owned by insiders.
Institutional Investors Weigh In On Eaton
Several hedge funds have recently bought and sold shares of the business. Venturi Wealth Management LLC lifted its stake in shares of Eaton by 22.6% in the first quarter. Venturi Wealth Management LLC now owns 2,470 shares of the industrial products company’s stock worth $883,000 after buying an additional 456 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of Eaton by 4.7% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,309 shares of the industrial products company’s stock worth $1,541,000 after buying an additional 192 shares in the last quarter. Davidson Trust Co. lifted its stake in shares of Eaton by 8.8% in the first quarter. Davidson Trust Co. now owns 960 shares of the industrial products company’s stock worth $343,000 after buying an additional 78 shares in the last quarter. Cottage Street Advisors LLC bought a new position in shares of Eaton in the first quarter worth approximately $213,000. Finally, Brian Low Financial Group LLC bought a new position in shares of Eaton in the first quarter worth approximately $226,000. Institutional investors own 82.97% of the company’s stock.
About Eaton
Eaton (NYSE: ETN) is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company’s offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.
Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.
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