Posted by admin on May 14th, 2022

Eaton Co. plc (NYSE:ETN – Get Rating) has earned an average recommendation of “Buy” from the eighteen research firms that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $173.47.

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price target on Eaton from $176.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, April 14th. StockNews.com lowered shares of Eaton from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays cut their price target on Eaton from $155.00 to $145.00 in a research note on Wednesday, May 4th. Royal Bank of Canada boosted their target price on Eaton from $153.00 to $156.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 2nd. Finally, Mizuho cut their price target on shares of Eaton from $195.00 to $185.00 in a research report on Wednesday, May 4th.

In other news, insider Joao V. Faria sold 11,852 shares of the stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $150.00, for a total value of $1,777,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ETN. Ellsworth Advisors LLC lifted its position in shares of Eaton by 16.9% during the 4th quarter. Ellsworth Advisors LLC now owns 23,136 shares of the industrial products company’s stock valued at $3,998,000 after acquiring an additional 3,347 shares during the period. MTM Investment Management LLC lifted its stake in Eaton by 34.2% during the fourth quarter. MTM Investment Management LLC now owns 2,355 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 600 shares during the last quarter. New England Research & Management Inc. bought a new position in shares of Eaton in the 4th quarter valued at $212,000. CIBC Asset Management Inc raised its holdings in shares of Eaton by 4.3% during the 4th quarter. CIBC Asset Management Inc now owns 37,868 shares of the industrial products company’s stock worth $6,544,000 after buying an additional 1,559 shares in the last quarter. Finally, Atria Investments LLC lifted its position in shares of Eaton by 27.3% during the 3rd quarter. Atria Investments LLC now owns 42,837 shares of the industrial products company’s stock worth $6,396,000 after buying an additional 9,181 shares during the last quarter. 79.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ETN opened at $141.33 on Friday. The business’s 50 day simple moving average is $147.99 and its 200-day simple moving average is $158.41. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.99 and a quick ratio of 0.59. The company has a market capitalization of $56.39 billion, a P/E ratio of 25.56, a PEG ratio of 1.71 and a beta of 1.15. Eaton has a one year low of $138.69 and a one year high of $175.72.

Eaton (NYSE:ETN – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.02. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.78 billion. Eaton had a net margin of 11.21% and a return on equity of 16.92%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.44 EPS. On average, sell-side analysts anticipate that Eaton will post 7.52 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 13th will be paid a dividend of $0.81 per share. The ex-dividend date is Thursday, May 12th. This represents a $3.24 annualized dividend and a dividend yield of 2.29%. Eaton’s dividend payout ratio is currently 58.59%.

Eaton Corporation plc operates as a power management company worldwide. The company's Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.

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