Jefferies Financial Group Cuts Eaton (NYSE:ETN) Price Target to $335.00

Eaton (NYSE:ETN) had its price objective lowered by Jefferies Financial Group from $390.00 to $335.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Other research analysts have also issued research reports about the stock. UBS Group assumed coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target on the stock. Melius Research restated a “hold” rating and set a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Evercore ISI lowered their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. KeyCorp upgraded Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective on the stock in a research note on Wednesday. Finally, Bank of America increased their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $356.20.

Eaton Stock Performance

NYSE:ETN opened at $294.53 on Wednesday. Eaton has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The firm’s 50 day moving average is $316.31 and its two-hundred day moving average is $331.29. The company has a market cap of $115.45 billion, a P/E ratio of 31.00, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period in the previous year, the company earned $2.55 EPS. Analysts expect that Eaton will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.41%. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is presently 43.79%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Capital A Wealth Management LLC acquired a new position in Eaton in the fourth quarter worth $26,000. Flagship Wealth Advisors LLC bought a new position in shares of Eaton in the 4th quarter worth about $27,000. Noble Wealth Management PBC acquired a new position in shares of Eaton in the 4th quarter valued at about $30,000. Groupama Asset Managment grew its position in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares during the last quarter. Finally, Horizon Bancorp Inc. IN raised its stake in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.