Eaton Co. plc (NYSE:ETN – Get Rating) has been assigned a consensus rating of “Moderate Buy” from the fourteen analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $171.00.
Several brokerages have issued reports on ETN. Bank of America lifted their target price on shares of Eaton from $180.00 to $200.00 in a research note on Wednesday. Royal Bank of Canada boosted their price target on shares of Eaton from $149.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 9th. Mizuho raised their price objective on shares of Eaton from $160.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, January 13th. Wells Fargo & Company boosted their price target on Eaton from $169.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, February 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Eaton from $175.00 to $188.00 in a research report on Thursday, February 9th.
Eaton Stock Performance
NYSE ETN opened at $174.37 on Friday. The stock has a market capitalization of $69.40 billion, a PE ratio of 28.35, a P/E/G ratio of 1.93 and a beta of 1.13. The business has a 50 day simple moving average of $166.35 and a two-hundred day simple moving average of $155.09. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.38 and a quick ratio of 0.84. Eaton has a 1-year low of $122.50 and a 1-year high of $178.75.
Eaton Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Monday, March 6th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.97%. This is a boost from Eaton’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Friday, March 3rd. Eaton’s dividend payout ratio (DPR) is presently 55.93%.
Insider Activity at Eaton
In related news, insider Joao V. Faria sold 2,000 shares of Eaton stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $169.00, for a total value of $338,000.00. Following the transaction, the insider now owns 67,166 shares of the company’s stock, valued at approximately $11,351,054. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Eaton news, insider Brian S. Brickhouse sold 21,347 shares of Eaton stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $176.97, for a total transaction of $3,777,778.59. Following the transaction, the insider now owns 15,905 shares of the company’s stock, valued at approximately $2,814,707.85. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joao V. Faria sold 2,000 shares of Eaton stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $169.00, for a total value of $338,000.00. Following the transaction, the insider now directly owns 67,166 shares in the company, valued at approximately $11,351,054. The disclosure for this sale can be found here. Insiders have sold a total of 33,377 shares of company stock worth $5,864,193 over the last ninety days. 0.56% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Eaton
Several institutional investors and hedge funds have recently bought and sold shares of the business. Regal Investment Advisors LLC bought a new stake in shares of Eaton in the 4th quarter valued at approximately $225,000. Gallagher Benefit Services Inc. acquired a new stake in Eaton in the 4th quarter worth approximately $779,000. ST Germain D J Co. Inc. boosted its position in Eaton by 39.8% during the fourth quarter. ST Germain D J Co. Inc. now owns 13,426 shares of the industrial products company’s stock worth $601,000 after purchasing an additional 3,819 shares during the period. Athena Investment Management acquired a new position in Eaton during the fourth quarter valued at approximately $215,000. Finally, Callan Family Office LLC bought a new position in shares of Eaton in the fourth quarter valued at approximately $828,000. Hedge funds and other institutional investors own 80.19% of the company’s stock.
Eaton Company Profile
Eaton Corp. Plc is a power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: Electrical Americas and Electrical Global, Hydraulics, Aerospace, Vehicle, and eMobility. The Electrical Americas and Electrical Global segments engage in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service.
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