Eaton Co. plc (NYSE:ETN) Given Average Recommendation of “Moderate Buy” by Analysts

Eaton Co. plc (NYSE:ETN) has been given an average rating of “Moderate Buy” by the seventeen research firms that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $337.88.

Several equities analysts have recently weighed in on ETN shares. Raymond James cut their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Barclays raised their target price on Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research report on Wednesday. Royal Bank of Canada reduced their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Evercore ISI dropped their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Finally, Morgan Stanley began coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 target price for the company.

Eaton Price Performance

NYSE:ETN opened at $333.05 on Friday. The firm has a market cap of $133.15 billion, a price-to-earnings ratio of 39.32, a PEG ratio of 2.53 and a beta of 1.02. The firm’s fifty day moving average is $303.32 and its two-hundred day moving average is $314.67. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. Eaton has a one year low of $191.82 and a one year high of $345.19.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.61 by $0.12. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. Research analysts expect that Eaton will post 10.75 EPS for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a $0.94 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.13%. Eaton’s dividend payout ratio is currently 44.39%.

Insiders Place Their Bets

In other news, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,511 shares of company stock worth $15,809,326. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Legacy Capital Group California Inc. raised its holdings in shares of Eaton by 1.2% during the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock worth $870,000 after purchasing an additional 32 shares during the period. Well Done LLC increased its position in Eaton by 1.3% in the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after acquiring an additional 33 shares during the period. J.W. Cole Advisors Inc. raised its stake in shares of Eaton by 1.7% during the second quarter. J.W. Cole Advisors Inc. now owns 2,053 shares of the industrial products company’s stock valued at $644,000 after purchasing an additional 35 shares in the last quarter. Front Row Advisors LLC boosted its holdings in shares of Eaton by 0.4% in the second quarter. Front Row Advisors LLC now owns 7,842 shares of the industrial products company’s stock valued at $2,459,000 after acquiring an additional 35 shares in the last quarter. Finally, Fragasso Group Inc. boosted its stake in Eaton by 3.6% during the 1st quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company’s stock valued at $323,000 after purchasing an additional 36 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

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.