Eaton Corporation, PLC (ETN) Price Target Increased to $92.00 by Analysts at Citigroup Inc.

Eaton Corporation, PLC (NYSE:ETN) had its price target raised by Citigroup Inc. from $90.00 to $92.00 in a research report released on Thursday, November 2nd. They currently have a buy rating on the industrial products company’s stock.

Several other research analysts also recently commented on the stock. Credit Suisse Group restated an outperform rating and set a $92.00 target price (up from $86.00) on shares of Eaton Corporation, PLC in a research report on Wednesday, November 1st. ValuEngine upgraded shares of Eaton Corporation, PLC from a hold rating to a buy rating in a research report on Friday, September 15th. Buckingham Research initiated coverage on shares of Eaton Corporation, PLC in a research report on Tuesday, October 17th. They set a neutral rating and a $82.00 target price on the stock. Stifel Nicolaus restated a hold rating and set a $80.00 target price on shares of Eaton Corporation, PLC in a research report on Friday, July 7th. Finally, J P Morgan Chase & Co cut shares of Eaton Corporation, PLC from a neutral rating to an underweight rating and decreased their target price for the company from $73.00 to $70.00 in a research report on Thursday, August 17th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. Eaton Corporation, PLC presently has an average rating of Hold and a consensus price target of $82.86.

Shares of Eaton Corporation, PLC (NYSE:ETN) opened at $76.30 on Thursday. Eaton Corporation, PLC has a 1 year low of $64.96 and a 1 year high of $82.34. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.43. The stock has a market cap of $33,330.00, a price-to-earnings ratio of 16.88, a PEG ratio of 1.86 and a beta of 1.39.

Eaton Corporation, PLC (NYSE:ETN) last issued its earnings results on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share for the quarter, hitting the consensus estimate 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 posted $1.16 EPS. Eaton Corporation, PLC’s quarterly revenue was up 6.4% compared to the same quarter last year. sell-side analysts forecast that Eaton Corporation, PLC will post 4.6 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Friday, November 3rd were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $2.40 annualized dividend and a yield of 3.15%. Eaton Corporation, PLC’s dividend payout ratio (DPR) is 55.05%.

In other Eaton Corporation, PLC news, Director Deborah L. Mccoy sold 6,450 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $73.17, for a total value of $471,946.50. Following the completion of the transaction, the director now owns 46,386 shares of the company’s stock, valued at $3,394,063.62. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Revathi Advaithi sold 23,743 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $78.36, for a total transaction of $1,860,501.48. Following the completion of the transaction, the insider now directly owns 31,028 shares of the company’s stock, valued at approximately $2,431,354.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,643 shares of company stock valued at $2,835,806. 0.80% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp raised its holdings in shares of Eaton Corporation, PLC by 25.9% during the first quarter. Fifth Third Bancorp now owns 64,930 shares of the industrial products company’s stock worth $4,815,000 after purchasing an additional 13,354 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Eaton Corporation, PLC by 1.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,762,234 shares of the industrial products company’s stock worth $723,870,000 after purchasing an additional 170,461 shares during the last quarter. Cleararc Capital Inc. raised its holdings in shares of Eaton Corporation, PLC by 15.0% during the first quarter. Cleararc Capital Inc. now owns 22,185 shares of the industrial products company’s stock worth $1,645,000 after purchasing an additional 2,891 shares during the last quarter. Thrivent Financial For Lutherans raised its holdings in shares of Eaton Corporation, PLC by 4.6% during the first quarter. Thrivent Financial For Lutherans now owns 16,474 shares of the industrial products company’s stock worth $1,222,000 after purchasing an additional 730 shares during the last quarter. Finally, Foresters Investment Management Company Inc. raised its holdings in shares of Eaton Corporation, PLC by 2.6% during the first quarter. Foresters Investment Management Company Inc. now owns 79,406 shares of the industrial products company’s stock worth $5,888,000 after purchasing an additional 2,006 shares during the last quarter. 76.76% of the stock is owned by institutional investors and hedge funds.

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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