Analysts Set Eaton Co. plc (NYSE:ETN) PT at $295.60

Eaton Co. plc (NYSE:ETN) has been given a consensus recommendation of “Moderate Buy” by the fifteen research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $295.60.

Several research analysts have weighed in on the company. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $286.00 to $371.00 in a research report on Friday, April 5th. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. The Goldman Sachs Group lifted their target price on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. UBS Group lifted their target price on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Mizuho lifted their target price on Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th.

Eaton Stock Down 1.6 %

NYSE:ETN opened at $310.15 on Friday. The firm has a market capitalization of $123.90 billion, a price-to-earnings ratio of 38.67, a price-to-earnings-growth ratio of 2.62 and a beta of 1.07. Eaton has a twelve month low of $161.12 and a twelve month high of $331.47. The stock’s 50 day moving average price is $299.48 and its two-hundred day moving average price is $253.53. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.08. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.06 EPS. Equities research analysts expect that Eaton will post 10.25 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.21%. This is a boost from Eaton’s previous quarterly dividend of $0.86. Eaton’s payout ratio is 46.88%.

Insider Transactions at Eaton

In other news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the transaction, the insider now owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Eaton news, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the transaction, the insider now owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the transaction, the insider now directly owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,969 shares of company stock valued at $10,904,774. 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 bought and sold shares of the company. Red Door Wealth Management LLC increased its holdings in Eaton by 16.3% in the 1st quarter. Red Door Wealth Management LLC now owns 1,205 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 169 shares in the last quarter. River Street Advisors LLC increased its holdings in Eaton by 4.3% in the 1st quarter. River Street Advisors LLC now owns 6,190 shares of the industrial products company’s stock worth $1,935,000 after purchasing an additional 254 shares in the last quarter. New Mexico Educational Retirement Board increased its holdings in Eaton by 11.6% in the 1st quarter. New Mexico Educational Retirement Board now owns 23,160 shares of the industrial products company’s stock worth $7,242,000 after purchasing an additional 2,400 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new position in Eaton in the 1st quarter worth about $277,000. Finally, Gibson Capital LLC acquired a new position in Eaton in the 1st quarter worth about $243,000. 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.