Eaton Co. plc (NYSE:ETN) Receives $367.83 Average Target Price from Brokerages

Shares of Eaton Co. plc (NYSE:ETN) have been assigned an average recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $367.83.

Several brokerages have recently weighed in on ETN. Barclays lifted their price target on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Mizuho upped their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Bank of America raised their price objective on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Jefferies Financial Group upped their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Morgan Stanley began coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target for the company.

Insider Buying and Selling at Eaton

In other news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 trade represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock worth $27,660,117 over the last three months. Company insiders own 0.53% of the company’s stock.

Institutional Trading of Eaton

Several large investors have recently modified their holdings of ETN. Breakwater Investment Management increased its stake in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after buying an additional 78 shares during the period. Morse Asset Management Inc purchased a new position in Eaton during the 3rd quarter valued at $33,000. LGT Financial Advisors LLC bought a new position in Eaton in the 2nd quarter worth $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton in the 3rd quarter worth about $35,000. Finally, DT Investment Partners LLC purchased a new position in shares of Eaton during the third quarter valued at about $37,000. 82.97% of the stock is owned by institutional investors.

Eaton Stock Down 0.1 %

ETN stock opened at $337.71 on Thursday. The stock has a fifty day moving average of $356.28 and a 200-day moving average of $327.12. Eaton has a fifty-two week low of $231.84 and a fifty-two week high of $379.99. The company has a market capitalization of $133.46 billion, a price-to-earnings ratio of 35.93, a PEG ratio of 2.74 and a beta of 1.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

Eaton (NYSE:ETN) last issued 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. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business earned $2.47 earnings per share. As a group, equities research analysts predict that Eaton will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s payout ratio is presently 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.