Barclays Cuts Eaton (NYSE:ETN) Price Target to $315.00

Eaton (NYSE:ETN) had its price objective reduced by Barclays from $325.00 to $315.00 in a research note published on Wednesday,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

Other equities analysts have also recently issued reports about the company. Evercore ISI decreased their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research note on Tuesday, January 28th. Wells Fargo & Company reduced their price objective on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Finally, KeyCorp upgraded Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 target price on the stock in a report on Wednesday, March 12th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $357.16.

Eaton Price Performance

ETN stock opened at $274.05 on Wednesday. Eaton has a 12 month low of $255.65 and a 12 month high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $107.37 billion, a P/E ratio of 28.85, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The firm has a 50 day moving average of $305.90 and a 200-day moving average of $331.12.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating the consensus estimate 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 posted $2.55 EPS. As a group, sell-side analysts predict that Eaton will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were issued a $1.04 dividend. The ex-dividend date was Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.52%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is presently 43.79%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Capital A Wealth Management LLC purchased a new stake in shares of Eaton during the 4th quarter valued at about $26,000. Flagship Wealth Advisors LLC purchased a new stake in Eaton during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new position in Eaton in the fourth quarter worth approximately $30,000. Horizon Bancorp Inc. IN boosted its stake in shares of Eaton by 321.7% during the 4th 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 last quarter. Finally, Morse Asset Management Inc bought a new stake in shares of Eaton during the 3rd quarter valued at $33,000. Institutional investors 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.