Eaton (ETN) Downgraded by ValuEngine

ValuEngine downgraded shares of Eaton (NYSE:ETN) from a buy rating to a hold rating in a research note released on Saturday.

A number of other research analysts also recently weighed in on the stock. Stifel Nicolaus upgraded shares of Eaton from a hold rating to a buy rating and upped their price objective for the stock from $77.00 to $99.00 in a research report on Sunday, February 4th. Zacks Investment Research upgraded shares of Eaton from a hold rating to a buy rating and set a $88.00 price objective for the company in a research report on Tuesday, January 2nd. Argus upgraded shares of Eaton to a buy rating and upped their price objective for the stock from $85.00 to $90.00 in a research report on Thursday, February 8th. Jefferies Group upgraded shares of Eaton from a hold rating to a buy rating and set a $80.00 price objective for the company in a research report on Monday, March 26th. Finally, Barclays initiated coverage on shares of Eaton in a research report on Thursday, February 15th. They issued an equal weight rating and a $90.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $86.64.

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NYSE:ETN opened at $75.97 on Friday. Eaton has a one year low of $69.82 and a one year high of $89.85. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.13 and a current ratio of 1.64. The firm has a market capitalization of $33,442.00, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 1.49 and a beta of 1.36.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.25 by $0.04. Eaton had a net margin of 14.60% and a return on equity of 12.84%. The company had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period in the prior year, the company earned $1.12 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. sell-side analysts anticipate that Eaton will post 5.17 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Monday, March 12th were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Friday, March 9th. This is an increase from Eaton’s previous quarterly dividend of $0.60. Eaton’s dividend payout ratio is 56.77%.

In related news, insider William J. Vanlandingham II sold 10,174 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $45.77, for a total transaction of $465,663.98. Following the completion of the transaction, the insider now owns 13,963 shares in the company, valued at approximately $639,086.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Deborah L. Mccoy sold 4,000 shares of the company’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $82.23, for a total transaction of $328,920.00. Following the transaction, the director now owns 35,936 shares of the company’s stock, valued at approximately $2,955,017.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,769 shares of company stock valued at $2,083,823. Insiders own 0.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Baird Financial Group Inc. raised its holdings in Eaton by 0.5% in the 4th quarter. Baird Financial Group Inc. now owns 135,991 shares of the industrial products company’s stock valued at $10,745,000 after acquiring an additional 630 shares during the last quarter. HPM Partners LLC raised its holdings in Eaton by 2.9% in the 4th quarter. HPM Partners LLC now owns 23,379 shares of the industrial products company’s stock valued at $1,847,000 after acquiring an additional 662 shares during the last quarter. Twin Tree Management LP raised its holdings in Eaton by 23.9% in the 4th quarter. Twin Tree Management LP now owns 3,548 shares of the industrial products company’s stock valued at $280,000 after acquiring an additional 684 shares during the last quarter. Sentry Investment Management LLC raised its holdings in Eaton by 2.1% in the 4th quarter. Sentry Investment Management LLC now owns 34,722 shares of the industrial products company’s stock valued at $2,743,000 after acquiring an additional 701 shares during the last quarter. Finally, Eaton Vance Management raised its holdings in Eaton by 0.4% in the 4th quarter. Eaton Vance Management now owns 158,329 shares of the industrial products company’s stock valued at $12,510,000 after acquiring an additional 708 shares during the last quarter. Institutional investors own 78.90% of the company’s stock.

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About Eaton

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Eaton (NYSE:ETN)

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