Eaton Co. PLC Declares Quarterly Dividend of $0.71 (NYSE:ETN)

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Eaton Co. PLC (NYSE:ETN) announced a quarterly dividend on Tuesday, October 22nd, Zacks reports. Investors of record on Friday, November 1st will be given a dividend of 0.71 per share by the industrial products company on Friday, November 15th. This represents a $2.84 annualized dividend and a yield of 3.24%. The ex-dividend date is Thursday, October 31st.

NYSE ETN traded down $1.29 during mid-day trading on Wednesday, reaching $87.67. 1,108,038 shares of the company’s stock traded hands, compared to its average volume of 2,160,479. The company has a market cap of $36.63 billion, a price-to-earnings ratio of 16.27, a P/E/G ratio of 1.71 and a beta of 1.43. The company has a fifty day simple moving average of $83.06 and a 200-day simple moving average of $81.02. The company has a current ratio of 1.83, a quick ratio of 1.18 and a debt-to-equity ratio of 0.51. Eaton has a 1-year low of $64.46 and a 1-year high of $89.45.

Eaton (NYSE:ETN) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.51 by $0.01. Eaton had a return on equity of 14.88% and a net margin of 10.16%. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the firm earned $1.43 EPS. The business’s revenue was down 1.8% on a year-over-year basis. Equities research analysts forecast that Eaton will post 5.82 earnings per share for the current fiscal year.

In related news, Director Deborah L. Mccoy sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $79.18, for a total value of $237,540.00. Following the completion of the sale, the director now directly owns 29,936 shares in the company, valued at approximately $2,370,332.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard H. Fearon sold 80,592 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $82.75, for a total transaction of $6,668,988.00. Following the completion of the sale, the insider now owns 270,097 shares of the company’s stock, valued at $22,350,526.75. The disclosure for this sale can be found here. Insiders have sold 101,592 shares of company stock worth $8,501,148 over the last 90 days. Corporate insiders own 0.70% of the company’s stock.

ETN has been the subject of several research analyst reports. Vertical Group cut Eaton from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Robert W. Baird restated a “hold” rating and set a $87.00 price target on shares of Eaton in a research note on Wednesday. Morgan Stanley boosted their price target on Eaton from $88.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Credit Suisse Group restated an “outperform” rating and set a $94.00 price target (up from $89.00) on shares of Eaton in a research note on Wednesday. Finally, Royal Bank of Canada set a $84.00 price target on Eaton and gave the company a “hold” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $89.69.

Eaton Company Profile

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.

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Dividend History for Eaton (NYSE:ETN)

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