Eaton Corporation, PLC (NYSE:ETN) Raises Dividend to $1.10 Per Share

Eaton Corporation, PLC (NYSE:ETN) declared a quarterly dividend on Thursday, February 26th. Investors of record on Tuesday, March 10th will be paid a dividend of 1.10 per share by the industrial products company on Friday, March 27th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, March 10th. This is a 5.8% increase from Eaton’s previous quarterly dividend of $1.04.

Eaton has increased its dividend payment by an average of 0.1%annually over the last three years. Eaton has a payout ratio of 34.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Eaton to earn $13.52 per share next year, which means the company should continue to be able to cover its $4.16 annual dividend with an expected future payout ratio of 30.8%.

Eaton Stock Performance

NYSE ETN traded down $2.04 on Friday, reaching $372.55. 161,509 shares of the stock were exchanged, compared to its average volume of 2,991,357. The company has a current ratio of 1.32, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45. Eaton has a one year low of $231.85 and a one year high of $408.45. The firm has a market capitalization of $144.70 billion, a PE ratio of 35.73, a PEG ratio of 2.58 and a beta of 1.20. The company’s 50-day simple moving average is $347.63 and its two-hundred day simple moving average is $354.81.

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

Insider Activity at Eaton

In other news, insider Sternadt Paulo Ruiz sold 10,707 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $390.26, for a total value of $4,178,513.82. Following the sale, the insider directly owned 27,729 shares in the company, valued at $10,821,519.54. The trade was a 27.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Eaton

Large investors have recently added to or reduced their stakes in the stock. Hilton Head Capital Partners LLC purchased a new position in shares of Eaton in the 4th quarter worth approximately $26,000. Sfam LLC purchased a new position in Eaton during the fourth quarter worth $27,000. Eagle Bay Advisors LLC purchased a new stake in shares of Eaton in the fourth quarter valued at $29,000. WFA of San Diego LLC bought a new stake in shares of Eaton in the 2nd quarter worth about $36,000. Finally, Imprint Wealth LLC bought a new position in Eaton during the 3rd quarter valued at about $39,000. 82.97% of the stock is owned by institutional investors.

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.