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

Shares of Eaton Co. plc (NYSE:ETN) have been given an average rating of “Moderate Buy” by the nineteen analysts that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $366.56.

Several equities analysts have recently weighed in on ETN shares. BNP Paribas Exane started coverage on shares of Eaton in a research report on Thursday. They issued an “outperform” rating and a $380.00 price objective on the stock. Melius Research reissued a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. BNP Paribas began coverage on shares of Eaton in a research note on Thursday. They issued an “outperform” rating and a $380.00 price target on the stock. Royal Bank of Canada upped their price target on shares of Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. Finally, Evercore ISI decreased their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th.

Eaton Stock Performance

Shares of ETN stock opened at $329.40 on Friday. The company’s fifty day simple moving average is $287.40 and its 200-day simple moving average is $319.55. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm has a market cap of $128.89 billion, a PE ratio of 34.67, a P/E/G ratio of 2.64 and a beta of 1.14. Eaton has a 12 month low of $231.85 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.40 earnings per share. Equities research analysts expect that Eaton will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a $1.04 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.26%. Eaton’s dividend payout ratio (DPR) is presently 41.98%.

Insiders Place Their Bets

In related news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction on Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the sale, the insider now owns 490,208 shares of the company’s stock, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider now directly owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eaton

A number of hedge funds have recently made changes to their positions in ETN. Lighthouse Wealth Management Inc. purchased a new position in Eaton during the 4th quarter valued at about $297,000. Bearing Point Capital LLC purchased a new position in Eaton during the 4th quarter valued at about $2,713,000. Webster Bank N. A. grew its holdings in Eaton by 52.4% during the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock valued at $5,949,000 after buying an additional 6,166 shares in the last quarter. Ballentine Partners LLC grew its holdings in Eaton by 9.3% during the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after buying an additional 790 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Eaton by 13.2% during the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock valued at $4,804,000 after buying an additional 1,694 shares in the last quarter. 82.97% of the stock is currently owned by 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.