Eaton (NYSE:ETN) Research Coverage Started at Raymond James

Raymond James began coverage on shares of Eaton (NYSE:ETN) in a research note published on Friday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $375.00 price target on the industrial products company’s stock.

A number of other analysts have also weighed in on the company. The Goldman Sachs Group raised their target price on Eaton from $287.00 to $328.00 and gave the company a buy rating in a research note on Friday, March 15th. JPMorgan Chase & Co. upped their target price on shares of Eaton from $279.00 to $325.00 and gave the stock an overweight rating in a research report on Wednesday, May 1st. Mizuho reissued a buy rating and issued a $355.00 price target (up previously from $340.00) on shares of Eaton in a report on Wednesday, May 1st. Argus boosted their price objective on shares of Eaton from $290.00 to $350.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada upgraded Eaton from a sector perform rating to an outperform rating and increased their price objective for the company from $286.00 to $371.00 in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Eaton has an average rating of Moderate Buy and a consensus price target of $318.06.

Eaton Trading Down 0.1 %

Shares of Eaton stock opened at $313.55 on Friday. Eaton has a 12-month low of $191.82 and a 12-month high of $345.19. The stock has a market capitalization of $125.36 billion, a P/E ratio of 37.02, a price-to-earnings-growth ratio of 2.62 and a beta of 1.04. The company has a 50-day simple moving average of $325.35 and a 200 day simple moving average of $293.12. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.12. The company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $1.88 earnings per share. Research analysts expect that Eaton will post 10.56 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is 44.39%.

Insider Buying and Selling

In other Eaton news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the transaction, the insider now directly owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Eaton

Several large investors have recently made changes to their positions in ETN. Tennessee Valley Asset Management Partners bought a new position in Eaton during the 4th quarter worth about $25,000. LifeSteps Financial Inc. acquired a new stake in Eaton in the 1st quarter valued at approximately $25,000. Atwood & Palmer Inc. raised its position in Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after buying an additional 50 shares during the last quarter. Clear Investment Research LLC acquired a new position in Eaton during the 4th quarter worth approximately $29,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Eaton during the 1st quarter worth approximately $33,000. Institutional investors own 82.97% of the company’s stock.

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.