Eaton Co. plc (NYSE:ETN) Receives $314.27 Consensus PT from Analysts

Eaton Co. plc (NYSE:ETN) has received an average rating of “Moderate Buy” from the sixteen research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $318.06.

A number of equities research analysts have issued reports on ETN shares. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $286.00 to $371.00 in a report on Friday, April 5th. Raymond James assumed coverage on Eaton in a report on Friday. They issued an “outperform” rating and a $375.00 target price on the stock. Argus upped their price target on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Finally, Mizuho reiterated a “buy” rating and set a $355.00 target price (up from $340.00) on shares of Eaton in a research note on Wednesday, May 1st.

Eaton Price Performance

NYSE ETN opened at $313.55 on Thursday. Eaton has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The stock’s 50-day moving average is $325.35 and its two-hundred day moving average is $292.72. The firm has a market cap of $125.36 billion, a P/E ratio of 37.02, a price-to-earnings-growth ratio of 2.63 and a beta of 1.04. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05.

Eaton (NYSE:ETN) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the company earned $1.88 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts anticipate that Eaton will post 10.56 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is 44.39%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total transaction of $801,725.44. Following the sale, the insider now directly owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.53% of the company’s stock.

Institutional Trading of Eaton

Large investors have recently made changes to their positions in the business. Tennessee Valley Asset Management Partners acquired a new stake in Eaton in the 4th quarter valued at about $25,000. LifeSteps Financial Inc. acquired a new stake in shares of Eaton in the first quarter valued at approximately $25,000. Atwood & Palmer Inc. lifted its holdings in Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after buying an additional 50 shares in the last quarter. Clear Investment Research LLC bought a new position in Eaton in the 4th quarter valued at $29,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Eaton in the 1st quarter valued at $33,000. Institutional investors own 82.97% of the company’s stock.

Eaton Company Profile

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.