By otakuyassine3@gmail.com 
Eaton Co. plc (NYSE:ETN – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the seventeen ratings firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $367.83.
A number of research firms have recently issued reports on ETN. Sanford C. Bernstein assumed coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Citigroup increased their price objective on Eaton from $394.00 to $440.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Mizuho lifted their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group upped their target price on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th.
Check Out Our Latest Stock Report on Eaton
Insider Activity
In related news, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction 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 completion of the transaction, the insider now owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,981 shares of company stock valued at $27,660,117. Insiders own 0.33% of the company’s stock.
Institutional Trading of Eaton
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ETN. Geode Capital Management LLC boosted its position in shares of Eaton by 0.7% in the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after acquiring an additional 56,516 shares during the period. Legal & General Group Plc raised its stake in Eaton by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after purchasing an additional 18,077 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Eaton by 15.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after purchasing an additional 316,830 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after purchasing an additional 597,700 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Eaton by 253.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after buying an additional 1,629,856 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.
Eaton Trading Up 1.1 %
NYSE:ETN opened at $341.54 on Thursday. The stock has a fifty day simple moving average of $356.19 and a 200 day simple moving average of $327.58. The firm has a market capitalization of $134.98 billion, a price-to-earnings ratio of 36.33, a price-to-earnings-growth ratio of 2.74 and a beta of 1.03. Eaton has a 1-year low of $231.84 and a 1-year high of $379.99. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.
Eaton (NYSE:ETN – Get Free Report) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $6.37 billion. During the same period last year, the company posted $2.47 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Sell-side analysts forecast that Eaton will post 10.8 earnings per share for the current year.
Eaton Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.10%. Eaton’s dividend payout ratio (DPR) 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.
Further Reading
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