Eaton Corporation, PLC (NYSE:ETN) Receives $392.94 Average Price Target from Brokerages

Shares of Eaton Corporation, PLC (NYSE:ETN) have earned a consensus rating of “Moderate Buy” from the twenty research firms that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $395.1053.

ETN has been the topic of a number of research analyst reports. UBS Group restated a “neutral” rating and issued a $360.00 price objective (down from $440.00) on shares of Eaton in a research report on Sunday, January 4th. Morgan Stanley reiterated an “overweight” rating and set a $425.00 target price on shares of Eaton in a research report on Wednesday, February 4th. Citigroup decreased their price target on shares of Eaton from $442.00 to $435.00 and set a “buy” rating on the stock in a research note on Monday, January 12th. Wolfe Research upgraded shares of Eaton from a “peer perform” rating to an “outperform” rating and set a $413.00 price objective for the company in a research report on Tuesday, December 9th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $407.00 price objective on shares of Eaton in a report on Wednesday, February 4th.

Eaton Price Performance

Eaton stock opened at $360.16 on Friday. The business’s fifty day moving average is $357.88 and its two-hundred day moving average is $355.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 1.32. The firm has a market cap of $139.74 billion, a P/E ratio of 34.43, a P/E/G ratio of 2.51 and a beta of 1.17. Eaton has a 52 week low of $231.85 and a 52 week high of $408.45.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, February 26th. The industrial products company reported $3.23 earnings per share for the quarter. Eaton had a return on equity of 25.00% and a net margin of 14.89%. Equities research analysts forecast that Eaton will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.2%. This is a boost from Eaton’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Tuesday, March 10th. Eaton’s payout ratio is currently 42.07%.

Insider Transactions at Eaton

In related news, insider Sternadt Paulo Ruiz sold 10,707 shares of Eaton stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $390.26, for a total value of $4,178,513.82. Following the completion of the sale, the insider directly owned 27,729 shares in the company, valued at $10,821,519.54. This trade represents a 27.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Hilton Head Capital Partners LLC acquired a new stake in shares of Eaton during the 4th quarter worth approximately $26,000. Sfam LLC acquired a new position in Eaton in the fourth quarter valued at approximately $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Eaton in the fourth quarter valued at approximately $28,000. Eagle Bay Advisors LLC acquired a new stake in Eaton during the 4th quarter worth $29,000. Finally, WFA of San Diego LLC acquired a new stake in Eaton during the 2nd quarter worth $36,000. Institutional investors own 82.97% of the company’s stock.

About Eaton

Eaton (NYSE: ETN) is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company’s offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.