Eaton (NYSE:ETN) Stock Price Up 0.4% on Analyst Upgrade

Eaton Co. plc (NYSE:ETN)’s share price traded up 0.4% during trading on Friday after Jefferies Financial Group raised their price target on the stock from $400.00 to $440.00. Jefferies Financial Group currently has a buy rating on the stock. Eaton traded as high as $373.28 and last traded at $372.54. 222,197 shares were traded during trading, a decline of 89% from the average session volume of 2,082,614 shares. The stock had previously closed at $371.05.

A number of other equities analysts have also recently commented on the company. Wells Fargo & Company boosted their price target on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Bank of America boosted their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and raised their price target for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Citigroup began coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Finally, Mizuho raised their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $362.72.

Insider Transactions at Eaton

In other Eaton news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,981 shares of company stock worth $24,100,317 over the last three months. 0.53% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Breakwater Investment Management lifted its position in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 78 shares in the last quarter. Proffitt & Goodson Inc. purchased a new position in shares of Eaton in the 2nd quarter worth about $29,000. Groupama Asset Managment grew its position in Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares during the period. LGT Financial Advisors LLC purchased a new stake in Eaton during the second quarter worth about $33,000. Finally, Morse Asset Management Inc purchased a new position in Eaton in the third quarter valued at about $33,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 0.0 %

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 stock has a market capitalization of $146.71 billion, a P/E ratio of 39.49, a P/E/G ratio of 2.86 and a beta of 1.03. The stock’s 50-day moving average price is $352.74 and its two-hundred day moving average price is $325.88.

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

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is currently 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.