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

Shares of Eaton Co. plc (NYSE:ETN) have been given an average recommendation of “Moderate Buy” by the eighteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $343.28.

Several brokerages recently issued reports on ETN. Evercore ISI dropped their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $374.00 price target on shares of Eaton in a research report on Friday, November 1st. Jefferies Financial Group increased their price target on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Sanford C. Bernstein assumed coverage on shares of Eaton in a research report on Tuesday. They issued an “outperform” rating and a $382.00 price target on the stock.

Insider Activity at Eaton

In related news, Director Gregory R. Page sold 4,000 shares of the firm’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 completion of the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Eaton news, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction 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 transaction, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was acquired at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the purchase, the director now directly owns 500 shares in the company, valued at approximately $149,485. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 56,511 shares of company stock valued at $17,150,526. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Eaton

A number of institutional investors and hedge funds have recently made changes to their positions in ETN. Breakwater Investment Management grew its stake in shares of Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after buying an additional 78 shares in the last quarter. Proffitt & Goodson Inc. purchased a new position in shares of Eaton during the 2nd quarter worth about $29,000. LGT Financial Advisors LLC purchased a new position in shares of Eaton during the 2nd quarter worth about $33,000. West Financial Advisors LLC purchased a new position in shares of Eaton during the 3rd quarter worth about $35,000. Finally, DiNuzzo Private Wealth Inc. purchased a new position in shares of Eaton during the 2nd quarter worth about $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Trading Up 2.0 %

Shares of ETN stock opened at $337.59 on Wednesday. Eaton has a 12-month low of $211.99 and a 12-month high of $349.74. 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’s 50 day moving average is $324.60 and its 200 day moving average is $318.76. The stock has a market capitalization of $133.42 billion, a P/E ratio of 35.91, a P/E/G ratio of 2.55 and a beta of 1.01.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter last year, the company posted $2.47 earnings per share. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. Research analysts expect that Eaton will post 10.78 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.11%. Eaton’s payout ratio is 40.00%.

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.