Eaton Co. plc Declares Quarterly Dividend of $0.94 (NYSE:ETN)

Eaton Co. plc (NYSE:ETN) announced a quarterly dividend on Tuesday, October 22nd, RTT News reports. Shareholders of record on Monday, November 4th will be paid a dividend of 0.94 per share by the industrial products company on Friday, November 22nd. This represents a $3.76 annualized dividend and a yield of 1.09%.

Eaton has a payout ratio of 31.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Eaton to earn $12.12 per share next year, which means the company should continue to be able to cover its $3.76 annual dividend with an expected future payout ratio of 31.0%.

Eaton Stock Down 1.0 %

ETN stock traded down $3.42 during midday trading on Tuesday, hitting $343.65. The company’s stock had a trading volume of 443,411 shares, compared to its average volume of 2,101,568. 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 twelve month low of $193.26 and a twelve month high of $349.74. The company’s fifty day moving average price is $315.18 and its 200 day moving average price is $316.83. The stock has a market capitalization of $137.39 billion, a P/E ratio of 40.77, a PEG ratio of 2.58 and a beta of 1.02.

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

Analyst Ratings Changes

Several brokerages recently commented on ETN. Evercore ISI reduced their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Citigroup assumed coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Barclays upped their price objective on shares of Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Morgan Stanley assumed coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Finally, Jefferies Financial Group upped their price objective on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $340.06.

Insider Activity

In other Eaton news, Director Karenann K. Terrell acquired 500 shares of Eaton stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the acquisition, the director now directly owns 500 shares of the company’s stock, valued at $149,485. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. 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 at the SEC website. Also, Director Karenann K. Terrell purchased 500 shares of the stock in a transaction dated Wednesday, August 21st. The stock was acquired at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the transaction, the director now owns 500 shares of the company’s stock, valued at approximately $149,485. The disclosure for this purchase can be found here. Insiders sold 52,511 shares of company stock worth $15,809,326 over the last three months. 0.53% of the stock is currently owned by insiders.

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.