Brokerages Set Eaton Co. plc (NYSE:ETN) PT at $340.06

Eaton Co. plc (NYSE:ETN) has received an average rating of “Moderate Buy” from the seventeen brokerages that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $341.00.

Several brokerages have recently weighed in on ETN. Citigroup began coverage on shares of Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price target for the company. Barclays decreased their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research note on Friday. Mizuho raised their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday. Evercore ISI decreased their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Finally, Jefferies Financial Group raised their price target on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th.

Eaton Stock Performance

Shares of NYSE:ETN opened at $335.00 on Wednesday. The company has a market capitalization of $133.36 billion, a price-to-earnings ratio of 36.85, a P/E/G ratio of 2.62 and a beta of 1.02. The firm’s 50 day simple moving average is $323.09 and its 200 day simple moving average is $318.29. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. Eaton has a fifty-two week low of $211.99 and a fifty-two week high of $349.74.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the company posted $2.47 EPS. As a group, sell-side analysts forecast that Eaton will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.12%. Eaton’s dividend payout ratio (DPR) is 41.36%.

Insiders Place Their Bets

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction on Thursday, August 29th. The stock was 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 owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the sale, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 over the last ninety days. 0.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Eaton

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Brookstone Capital Management raised its stake in Eaton by 15.5% in the first quarter. Brookstone Capital Management now owns 1,375 shares of the industrial products company’s stock valued at $430,000 after purchasing an additional 185 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Eaton by 36.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 1,450 shares of the industrial products company’s stock valued at $453,000 after purchasing an additional 384 shares in the last quarter. Naviter Wealth LLC acquired a new position in Eaton in the first quarter valued at about $238,000. Valley National Advisers Inc. raised its stake in Eaton by 5.6% in the first quarter. Valley National Advisers Inc. now owns 682 shares of the industrial products company’s stock valued at $213,000 after purchasing an additional 36 shares in the last quarter. Finally, Lake Street Private Wealth LLC raised its stake in Eaton by 2.2% in the first quarter. Lake Street Private Wealth LLC now owns 4,256 shares of the industrial products company’s stock valued at $1,331,000 after purchasing an additional 92 shares in the last quarter. Institutional investors and hedge funds 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.