Eaton (NYSE:ETN) Price Target Cut to $325.00 by Analysts at Barclays

Eaton (NYSE:ETN) had its price target decreased by Barclays from $353.00 to $325.00 in a report published on Monday,Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

Several other equities analysts also recently commented on the stock. UBS Group began coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Jefferies Financial Group increased their price target on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Melius Research reissued a “hold” rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Sanford C. Bernstein began coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. Finally, Citigroup decreased their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Seven investment 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $363.15.

Eaton Stock Up 3.1 %

Shares of NYSE:ETN opened at $287.85 on Monday. The firm has a fifty day moving average price of $323.38 and a two-hundred day moving average price of $332.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton has a one year low of $255.65 and a one year high of $379.99. The company has a market cap of $112.84 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 2.64 and a beta of 1.09.

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

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.45%. Eaton’s dividend payout ratio is presently 43.79%.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ETN. Capital A Wealth Management LLC bought a new position in Eaton in the fourth quarter worth approximately $26,000. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton during the 4th quarter valued at $27,000. Noble Wealth Management PBC bought a new stake in shares of Eaton during the 4th quarter valued at $30,000. Groupama Asset Managment raised 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 purchasing an additional 4,298 shares during the period. Finally, Horizon Bancorp Inc. IN raised its position 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 valued at $32,000 after purchasing an additional 74 shares during the period. 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.