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

Eaton Co. plc (NYSE:ETN) has been assigned an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $357.83.

A number of analysts have recently commented on the company. Bank of America lifted their price target on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. UBS Group began coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Mizuho raised their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Raymond James reduced their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Finally, Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and raised their target price for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th.

Insider Transactions at Eaton

In other Eaton news, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,981 shares of company stock valued at $24,100,317 in the last 90 days. 0.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ETN. Price T Rowe Associates Inc. MD increased its holdings in Eaton by 1.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 576,657 shares of the industrial products company’s stock worth $180,310,000 after purchasing an additional 8,153 shares in the last quarter. Morse Asset Management Inc purchased a new stake in Eaton in the 1st quarter valued at $270,000. Ascent Group LLC purchased a new position in Eaton during the 1st quarter worth $231,000. Waverly Advisors LLC grew its stake in shares of Eaton by 7.1% in the 1st quarter. Waverly Advisors LLC now owns 7,323 shares of the industrial products company’s stock worth $2,290,000 after acquiring an additional 483 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in shares of Eaton in the first quarter valued at about $600,000. 82.97% of the stock is owned by institutional investors.

Eaton Stock Down 1.4 %

ETN stock opened at $371.98 on Friday. The stock has a market capitalization of $147.01 billion, a P/E ratio of 39.57, a price-to-earnings-growth ratio of 2.99 and a beta of 1.01. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $347.47 and a 200-day moving average price of $324.22. Eaton has a 12 month low of $224.52 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the firm posted $2.47 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts anticipate that Eaton will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.94 per share. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.01%. Eaton’s dividend payout ratio is currently 40.00%.

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.