Eaton (NYSE:ETN) Rating Reiterated by Mizuho

Mizuho reaffirmed their buy rating on shares of Eaton (NYSE:ETN) in a research report released on Wednesday, Benzinga reports. Mizuho currently has a $355.00 price objective on the industrial products company’s stock, up from their prior price objective of $340.00.

Several other research analysts have also recently commented on the company. Wolfe Research reissued an underperform rating and set a $312.00 price target on shares of Eaton in a research report on Monday, April 8th. UBS Group raised their price objective on Eaton from $255.00 to $305.00 and gave the company a buy rating in a research report on Friday, February 2nd. Royal Bank of Canada raised Eaton from a sector perform rating to an outperform rating and raised their price objective for the company from $286.00 to $371.00 in a research report on Friday, April 5th. Barclays raised Eaton from an underweight rating to an equal weight rating and raised their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Finally, Bank of America raised their price objective on Eaton from $320.00 to $330.00 and gave the company a buy rating in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $314.27.

Eaton Stock Up 2.0 %

NYSE:ETN opened at $320.50 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.02 and a current ratio of 1.56. The company has a market cap of $128.14 billion, a PE ratio of 37.84, a PEG ratio of 2.49 and a beta of 1.06. Eaton has a 52-week low of $165.24 and a 52-week high of $333.05. The stock has a 50-day simple moving average of $308.68 and a 200 day simple moving average of $261.94.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the prior year, the firm posted $1.88 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts expect that Eaton will post 10.45 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 1.17%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insiders Place Their Bets

In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now owns 630 shares in the company, valued at approximately $171,360. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now owns 630 shares in the company, valued at approximately $171,360. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the transaction, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Insiders have sold a total of 38,969 shares of company stock worth $10,904,774 in the last 90 days. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Eaton

Several hedge funds and other institutional investors have recently modified their holdings of ETN. Tennessee Valley Asset Management Partners bought a new position in shares of Eaton in the 4th quarter valued at $25,000. LifeSteps Financial Inc. bought a new stake in Eaton during the 1st quarter worth $25,000. Atwood & Palmer Inc. grew its position in Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 50 shares during the last quarter. Clear Investment Research LLC bought a new stake in Eaton during the 4th quarter worth $29,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Eaton during the 1st quarter worth $33,000. Institutional investors own 82.97% of the company’s stock.

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.