Eaton Co. (ETN) Receives $86.73 Average PT from Analysts

Eaton Co. (NYSE:ETN) has been assigned a consensus recommendation of “Hold” from the nineteen analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $86.64.

A number of brokerages have recently issued reports on ETN. ValuEngine cut Eaton from a “buy” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus restated a “buy” rating and issued a $88.00 price target on shares of Eaton in a research note on Wednesday, April 4th. Zacks Investment Research upgraded Eaton from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Wednesday, April 4th. Jefferies Group restated a “hold” rating and issued a $90.00 price target on shares of Eaton in a research note on Friday, February 2nd. Finally, JPMorgan Chase upgraded Eaton from an “underweight” rating to a “neutral” rating and set a $82.00 price target on the stock in a research note on Thursday, March 1st.

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Shares of Eaton stock traded up $0.67 on Wednesday, reaching $76.64. 628,116 shares of the company were exchanged, compared to its average volume of 2,932,456. Eaton has a one year low of $69.82 and a one year high of $89.85. The stock has a market cap of $33,442.00, a P/E ratio of 16.49, a P/E/G ratio of 1.49 and a beta of 1.36. The company has a quick ratio of 1.13, a current ratio of 1.64 and a debt-to-equity ratio of 0.41.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Monday, March 12th were given a dividend of $0.66 per share. This is a boost from Eaton’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, March 9th. This represents a $2.64 annualized dividend and a yield of 3.44%. Eaton’s dividend payout ratio (DPR) is presently 56.77%.

In other Eaton news, insider William J. Vanlandingham II sold 10,174 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $45.77, for a total transaction of $465,663.98. Following the transaction, the insider now owns 13,963 shares in the company, valued at approximately $639,086.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Deborah L. Mccoy sold 4,000 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $82.23, for a total value of $328,920.00. Following the transaction, the director now owns 35,936 shares in the company, valued at approximately $2,955,017.28. The disclosure for this sale can be found here. Insiders have sold a total of 29,769 shares of company stock worth $2,083,823 in the last quarter. Company insiders own 0.50% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ETN. Independence Bank of Kentucky acquired a new stake in shares of Eaton during the 4th quarter worth $118,000. Delpha Capital Management LLC acquired a new stake in shares of Eaton during the 4th quarter worth $124,000. Fieldpoint Private Securities LLC acquired a new stake in shares of Eaton during the 3rd quarter worth $130,000. Montag A & Associates Inc. acquired a new stake in shares of Eaton during the 4th quarter worth $201,000. Finally, Murphy Capital Management Inc. acquired a new stake in shares of Eaton during the 4th quarter worth $201,000. Hedge funds and other 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.

Analyst Recommendations for Eaton (NYSE:ETN)

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