Eaton (NYSE:ETN) Price Target Raised to $392.00 at Royal Bank of Canada

Eaton (NYSE:ETN) had its target price lifted by Royal Bank of Canada from $374.00 to $392.00 in a research report report published on Friday,Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

Other equities research analysts also recently issued reports about the stock. UBS Group began coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Jefferies Financial Group raised their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Morgan Stanley began coverage on Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and lifted their target price for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Finally, Sanford C. Bernstein started coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $368.83.

Eaton Trading Up 3.2 %

Shares of NYSE:ETN opened at $342.58 on Friday. Eaton has a twelve month low of $233.73 and a twelve month high of $379.99. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a market cap of $135.39 billion, a P/E ratio of 36.44, a P/E/G ratio of 2.74 and a beta of 1.03. The company has a 50 day moving average of $354.71 and a 200-day moving average of $327.98.

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

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.94 per share. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.10%. Eaton’s dividend payout ratio is 40.00%.

Insider Buying and Selling

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,981 shares of company stock worth $27,660,117. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Strategic Wealth Partners Ltd. grew its holdings in Eaton by 3.0% during the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 30 shares during the last quarter. Fairfield Financial Advisors LTD grew its stake in Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after buying an additional 30 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Eaton by 2.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after acquiring an additional 32 shares during the period. Austin Private Wealth LLC lifted its position in Eaton by 3.7% during the 3rd quarter. Austin Private Wealth LLC now owns 929 shares of the industrial products company’s stock worth $308,000 after acquiring an additional 33 shares during the last quarter. Finally, Smithfield Trust Co grew its position in shares of Eaton by 0.6% in the third quarter. Smithfield Trust Co now owns 5,390 shares of the industrial products company’s stock valued at $1,789,000 after purchasing an additional 33 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

About Eaton

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.