Eaton Corporation, PLC (NYSE:ETN) Research Coverage Started at Buckingham Research

Buckingham Research initiated coverage on shares of Eaton Corporation, PLC (NYSE:ETN) in a report issued on Tuesday, October 17th, Marketbeat reports. The firm issued a neutral rating and a $82.00 price objective on the industrial products company’s stock.

Other research analysts have also issued research reports about the stock. BidaskClub lowered shares of Eaton Corporation, PLC from a sell rating to a strong sell rating in a research note on Thursday, August 10th. Stifel Nicolaus restated a hold rating and set a $80.00 price target on shares of Eaton Corporation, PLC in a research note on Friday, July 7th. ValuEngine upgraded shares of Eaton Corporation, PLC from a hold rating to a buy rating in a research note on Friday, September 15th. J P Morgan Chase & Co lowered shares of Eaton Corporation, PLC from a neutral rating to an underweight rating and dropped their price target for the stock from $73.00 to $70.00 in a research note on Thursday, August 17th. Finally, Royal Bank Of Canada restated a hold rating and set a $78.00 price target on shares of Eaton Corporation, PLC in a research note on Wednesday, July 12th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. Eaton Corporation, PLC currently has an average rating of Hold and a consensus price target of $82.86.

Eaton Corporation, PLC (ETN) traded up $0.30 during mid-day trading on Tuesday, reaching $78.40. 1,190,773 shares of the company’s stock were exchanged, compared to its average volume of 2,653,077. The company has a current ratio of 1.43, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The company has a market cap of $34,410.86, a PE ratio of 17.43, a P/E/G ratio of 1.92 and a beta of 1.39.

Eaton Corporation, PLC (NYSE:ETN) last released its earnings results on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.25. Eaton Corporation, PLC had a net margin of 14.21% and a return on equity of 12.89%. The company had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. research analysts predict that Eaton Corporation, PLC will post 4.6 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Friday, November 3rd will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.06%. The ex-dividend date is Thursday, November 2nd. Eaton Corporation, PLC’s dividend payout ratio is currently 37.68%.

In related news, Director Deborah L. Mccoy sold 6,450 shares of Eaton Corporation, PLC stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $73.17, for a total transaction of $471,946.50. Following the completion of the transaction, the director now directly owns 46,386 shares of the company’s stock, valued at approximately $3,394,063.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.80% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Cable Hill Partners LLC increased its position in Eaton Corporation, PLC by 174.8% in the 3rd quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 867 shares in the last quarter. Harfst & Associates Inc. acquired a new stake in Eaton Corporation, PLC in the 1st quarter valued at about $109,000. Guardian Life Insurance Co. of America increased its position in Eaton Corporation, PLC by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,742 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 12 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Eaton Corporation, PLC in the 2nd quarter valued at about $133,000. Finally, Citizens Financial Group Inc. RI increased its position in Eaton Corporation, PLC by 168.8% in the 1st quarter. Citizens Financial Group Inc. RI now owns 2,059 shares of the industrial products company’s stock valued at $153,000 after acquiring an additional 1,293 shares in the last quarter. Hedge funds and other institutional investors own 76.78% of the company’s stock.

About Eaton Corporation, PLC

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.

Analyst Recommendations for Eaton Corporation, PLC (NYSE:ETN)

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