Eaton (NYSE:ETN) Price Target Lowered to $306.00 at Barclays

Eaton (NYSE:ETN) had its target price lowered by Barclays from $315.00 to $306.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

A number of other equities research analysts have also issued reports on the company. Citigroup reduced their price target on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. decreased their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Evercore ISI dropped their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Melius Research reaffirmed a “hold” rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada dropped their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $356.68.

Eaton Stock Down 5.6 %

Shares of NYSE:ETN opened at $246.36 on Friday. The firm has a market capitalization of $96.52 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton has a 1 year low of $236.58 and a 1 year high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm’s 50-day moving average is $296.43 and its two-hundred day moving average is $330.00.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the firm posted $2.55 EPS. Analysts predict that Eaton will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.69%. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, March 10th. Eaton’s payout ratio is presently 43.79%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Eaton during the fourth quarter worth about $1,495,582,000. Capital International Investors purchased a new position in shares of Eaton in the 4th quarter valued at approximately $523,541,000. Proficio Capital Partners LLC increased its holdings in shares of Eaton by 42,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock valued at $243,036,000 after purchasing an additional 730,594 shares during the period. Leigh Baldwin & CO. LLC acquired a new stake in shares of Eaton during the fourth quarter worth $231,552,000. Finally, Janus Henderson Group PLC grew its position in Eaton by 24.3% in the 4th quarter. Janus Henderson Group PLC now owns 3,007,570 shares of the industrial products company’s stock valued at $998,144,000 after buying an additional 588,370 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.