Analysts Set Eaton Co. plc (NYSE:ETN) Price Target at $367.83

Shares of Eaton Co. plc (NYSE:ETN) have received a consensus rating of “Moderate Buy” from the seventeen analysts that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $367.83.

A number of equities analysts have weighed in on the company. Wells Fargo & Company boosted their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. UBS Group assumed coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Mizuho boosted their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and increased their price objective for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Finally, Citigroup boosted their target price on shares of Eaton from $394.00 to $440.00 and gave the company a “buy” rating in a research report on Monday, December 9th.

Insider Buying and Selling

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the sale, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,981 shares of company stock valued at $27,660,117. Corporate insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Eaton

Several institutional investors have recently bought and sold shares of the business. Breakwater Investment Management boosted its stake in Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after buying an additional 78 shares during the period. Morse Asset Management Inc bought a new position in Eaton during the 3rd quarter valued at about $33,000. LGT Financial Advisors LLC bought a new stake in Eaton in the second quarter worth about $33,000. West Financial Advisors LLC bought a new position in shares of Eaton during the third quarter valued at approximately $35,000. Finally, DT Investment Partners LLC purchased a new stake in shares of Eaton in the third quarter worth approximately $37,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 0.7 %

Shares of Eaton stock opened at $338.12 on Thursday. The company has a 50-day simple moving average of $356.28 and a two-hundred day simple moving average of $327.11. Eaton has a 52-week low of $231.84 and a 52-week high of $379.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The stock has a market capitalization of $133.63 billion, a PE ratio of 35.97, a price-to-earnings-growth ratio of 2.74 and a beta of 1.03.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.47 EPS. On average, analysts anticipate that Eaton will post 10.8 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

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.