Eaton (NYSE:ETN) Price Target Increased to $155.00 by Analysts at Robert W. Baird

Eaton (NYSE:ETNGet Rating) had its price objective upped by Robert W. Baird from $150.00 to $155.00 in a report released on Tuesday, The Fly reports.

A number of other equities analysts also recently issued reports on the company. Royal Bank of Canada raised their price objective on Eaton from $153.00 to $156.00 and gave the stock a sector perform rating in a research report on Wednesday, March 2nd. William Blair restated a market perform rating on shares of Eaton in a research note on Thursday, March 3rd. Mizuho reduced their target price on Eaton from $200.00 to $195.00 and set a buy rating for the company in a research report on Monday, February 7th. Wolfe Research reduced their target price on Eaton from $196.00 to $194.00 and set an outperform rating for the company in a research report on Monday, February 7th. Finally, Zacks Investment Research upgraded Eaton from a hold rating to a buy rating and set a $180.00 price objective for the company in a report on Wednesday, January 5th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $175.19.

NYSE:ETN opened at $146.58 on Tuesday. The stock’s 50-day simple moving average is $148.98 and its 200 day simple moving average is $159.35. The firm has a market capitalization of $58.57 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 1.77 and a beta of 1.15. The company has a quick ratio of 0.63, a current ratio of 1.04 and a debt-to-equity ratio of 0.42. Eaton has a twelve month low of $139.12 and a twelve month high of $175.72.

Eaton (NYSE:ETNGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The industrial products company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.02. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.78 billion. Eaton had a return on equity of 16.90% and a net margin of 10.92%. Eaton’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the firm posted $1.44 earnings per share. On average, analysts anticipate that Eaton will post 7.47 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 13th will be given a $0.81 dividend. The ex-dividend date is Thursday, May 12th. This represents a $3.24 annualized dividend and a dividend yield of 2.21%. Eaton’s dividend payout ratio is presently 60.67%.

In related news, Director Sandra Pianalto acquired 243 shares of the firm’s stock in a transaction on Tuesday, February 8th. The stock was bought at an average cost of $151.58 per share, with a total value of $36,833.94. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Joao V. Faria sold 11,852 shares of Eaton stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $150.00, for a total transaction of $1,777,800.00. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. State Street Corp increased its holdings in Eaton by 0.7% in the 4th quarter. State Street Corp now owns 16,615,642 shares of the industrial products company’s stock valued at $2,871,515,000 after buying an additional 115,947 shares during the period. Norges Bank acquired a new position in Eaton during the 4th quarter valued at about $1,235,314,000. Geode Capital Management LLC increased its stake in shares of Eaton by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 6,538,531 shares of the industrial products company’s stock valued at $1,126,638,000 after acquiring an additional 59,543 shares during the last quarter. Morgan Stanley increased its stake in Eaton by 7.3% during the 3rd quarter. Morgan Stanley now owns 4,044,508 shares of the industrial products company’s stock worth $603,886,000 after purchasing an additional 274,249 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Eaton by 15.0% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,455,308 shares of the industrial products company’s stock worth $592,309,000 after purchasing an additional 451,727 shares in the last quarter. 79.10% of the stock is currently owned by institutional investors and hedge funds.

About Eaton (Get Rating)

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.

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