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

Eaton Co. plc (NYSE:ETN) has received a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $318.06.

Several analysts recently commented on ETN shares. Berenberg Bank boosted their price target on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. HSBC upped their target price on shares of Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Mizuho reissued a “buy” rating and set a $355.00 price target (up from $340.00) on shares of Eaton in a report on Wednesday, May 1st. Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Finally, The Goldman Sachs Group boosted their target price on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th.

Eaton Stock Up 1.6 %

ETN opened at $318.42 on Thursday. Eaton has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The company has a market capitalization of $127.30 billion, a P/E ratio of 37.59, a P/E/G ratio of 2.64 and a beta of 1.02. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05. The firm’s fifty day moving average price is $325.44 and its two-hundred day moving average price is $294.18.

Eaton (NYSE:ETN) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.88 earnings per share. On average, analysts anticipate that Eaton will post 10.55 EPS for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Friday, May 3rd. Eaton’s dividend payout ratio is 44.39%.

Insider Activity at Eaton

In other Eaton news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total transaction of $801,725.44. Following the completion of the sale, the insider now owns 5,086 shares in the company, valued at approximately $1,687,738.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eaton

Several institutional investors have recently modified their holdings of the stock. Tennessee Valley Asset Management Partners bought a new stake in Eaton in the fourth quarter valued at approximately $25,000. LifeSteps Financial Inc. bought a new stake in shares of Eaton in the 1st quarter valued at $25,000. Atwood & Palmer Inc. raised its stake in Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after buying an additional 50 shares during the period. Clear Investment Research LLC bought a new position in Eaton during the fourth quarter worth about $29,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Eaton in the first quarter valued at about $33,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.