Eaton Co. plc (NYSE:ETN) Given Average Rating of “Moderate Buy” by Analysts

Shares of Eaton Co. plc (NYSE:ETN) have been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $314.27.

A number of brokerages have weighed in on ETN. Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $250.00 to $300.00 in a research note on Tuesday, April 2nd. HSBC upped their target price on shares of Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Wolfe Research reissued an “underperform” rating and issued a $312.00 price target on shares of Eaton in a research note on Monday, April 8th. JPMorgan Chase & Co. upped their price objective on Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $286.00 to $371.00 in a research report on Friday, April 5th.

Insider Activity

In other news, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction dated 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 of the company’s stock, valued at approximately $20,244,140.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the sale, the insider now owns 69,472 shares in the company, valued at $20,244,140.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the transaction, the insider now owns 630 shares of the company’s stock, valued at $171,360. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,219 shares of company stock valued at $5,509,667. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Eaton

Several large investors have recently modified their holdings of the stock. Verdence Capital Advisors LLC raised its stake in Eaton by 1.7% during the 1st quarter. Verdence Capital Advisors LLC now owns 2,059 shares of the industrial products company’s stock worth $644,000 after buying an additional 34 shares during the period. Fragasso Group Inc. raised its position in shares of Eaton by 3.6% during the first quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company’s stock worth $323,000 after purchasing an additional 36 shares during the period. Valley National Advisers Inc. lifted its holdings in shares of Eaton by 5.6% in the 1st quarter. Valley National Advisers Inc. now owns 682 shares of the industrial products company’s stock worth $213,000 after purchasing an additional 36 shares in the last quarter. Wendell David Associates Inc. grew its position in Eaton by 4.0% in the 1st quarter. Wendell David Associates Inc. now owns 936 shares of the industrial products company’s stock valued at $293,000 after purchasing an additional 36 shares during the period. Finally, FinTrust Capital Advisors LLC increased its stake in Eaton by 2.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,481 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 37 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

ETN opened at $327.30 on Wednesday. The company has a fifty day simple moving average of $310.41 and a 200 day simple moving average of $264.55. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The stock has a market cap of $130.85 billion, a P/E ratio of 38.64, a P/E/G ratio of 2.54 and a beta of 1.06. Eaton has a 12 month low of $165.24 and a 12 month high of $333.05.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the company earned $1.88 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, research analysts expect that Eaton will post 10.45 EPS for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Friday, May 3rd. Eaton’s dividend payout ratio is currently 44.39%.

Eaton Company Profile

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.