Eaton Co. plc (NYSE:ETN) Receives Average Recommendation of “Moderate Buy” from Analysts

Eaton Co. plc (NYSE:ETN) has earned an average recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $343.28.

ETN has been the subject of a number of research analyst reports. Mizuho lifted their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Raymond James reduced their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Sanford C. Bernstein initiated coverage on shares of Eaton in a report on Tuesday. They issued an “outperform” rating and a $382.00 price target for the company. Wells Fargo & Company boosted their price target on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Barclays reduced their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a report on Friday, November 1st.

Insiders Place Their Bets

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Eaton news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Karenann K. Terrell bought 500 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were bought 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 in the company, valued at $149,485. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 56,511 shares of company stock valued at $17,150,526. Insiders own 0.33% of the company’s stock.

Institutional Trading of Eaton

Large investors have recently made changes to their positions in the business. Breakwater Investment Management boosted its holdings in shares of Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 78 shares during the last quarter. Proffitt & Goodson Inc. purchased a new stake in shares of Eaton in the 2nd quarter valued at $29,000. LGT Financial Advisors LLC purchased a new stake in shares of Eaton in the 2nd quarter valued at $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton in the 3rd quarter valued at $35,000. Finally, DiNuzzo Private Wealth Inc. acquired a new position in shares of Eaton in the 2nd quarter valued at $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Trading Up 2.0 %

Shares of ETN opened at $337.59 on Wednesday. Eaton has a 1-year low of $211.99 and a 1-year high of $349.74. The company has a 50-day moving average of $324.60 and a 200 day moving average of $318.76. The firm has a market capitalization of $133.42 billion, a price-to-earnings ratio of 35.91, a PEG ratio of 2.55 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the business posted $2.47 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, research analysts expect that Eaton will post 10.78 EPS for the current year.

Eaton Dividend Announcement

The business also recently announced 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. This represents a $3.76 annualized dividend and a yield of 1.11%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio is presently 40.00%.

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.