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.
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.
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