Eaton Co. plc (NYSE:ETN) Receives $314.27 Consensus PT from Brokerages

Eaton Co. plc (NYSE:ETN) has been assigned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $318.06.

A number of research analysts recently issued reports on ETN shares. Berenberg Bank raised their price objective on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Argus raised their price target on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $286.00 to $371.00 in a research note on Friday, April 5th. Raymond James started coverage on Eaton in a research report on Friday, June 28th. They set an “outperform” rating and a $375.00 target price for the company. Finally, Wolfe Research reiterated an “underperform” rating and issued a $312.00 price target on shares of Eaton in a research report on Monday, April 8th.

Eaton Stock Performance

NYSE ETN opened at $318.42 on Thursday. Eaton has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The stock has a market cap of $127.30 billion, a PE ratio of 37.59, a PEG ratio of 2.64 and a beta of 1.02. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. The firm’s fifty day moving average price is $325.44 and its two-hundred day moving average price is $294.18.

Eaton (NYSE:ETN) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.88 EPS. On average, equities analysts expect that Eaton will post 10.55 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Friday, May 3rd. Eaton’s payout ratio is 44.39%.

Insider Buying and Selling at Eaton

In other news, insider Peter Denk sold 2,416 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total transaction of $801,725.44. Following the transaction, the insider now owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ETN. Mutual Advisors LLC grew its position in Eaton by 3.1% in the 3rd quarter. Mutual Advisors LLC now owns 2,358 shares of the industrial products company’s stock valued at $503,000 after purchasing an additional 71 shares during the period. Mather Group LLC. increased its position in shares of Eaton by 12.7% during the third quarter. Mather Group LLC. now owns 3,090 shares of the industrial products company’s stock worth $659,000 after acquiring an additional 347 shares in the last quarter. Valley National Advisers Inc. lifted its position in Eaton by 329.8% in the 3rd quarter. Valley National Advisers Inc. now owns 447 shares of the industrial products company’s stock valued at $95,000 after acquiring an additional 343 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Eaton during the 3rd quarter valued at about $4,814,000. Finally, Tower Research Capital LLC TRC increased its holdings in Eaton by 126.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 23,940 shares of the industrial products company’s stock worth $5,106,000 after purchasing an additional 13,347 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

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.