Eaton Co. PLC (NYSE:ETN) has been assigned a consensus rating of “Hold” from the eighteen research firms that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $86.46.
A number of analysts have recently weighed in on ETN shares. Zacks Investment Research downgraded shares of Eaton from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. Robert W. Baird set a $88.00 price objective on Eaton and gave the stock a “buy” rating in a research note on Friday, January 25th. Morgan Stanley set a $82.00 price objective on Eaton and gave the stock a “hold” rating in a research note on Saturday, February 2nd. Wells Fargo & Co raised their price objective on Eaton from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. They noted that the move was a valuation call. Finally, Vertical Research upgraded Eaton from a “hold” rating to a “buy” rating in a research note on Monday, March 4th.
In related news, Director Dorothy C. Thompson bought 1,655 shares of the business’s stock in a transaction on Monday, May 13th. The shares were bought at an average cost of $78.54 per share, for a total transaction of $129,983.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Curtis J. Hutchins sold 12,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $80.60, for a total value of $967,200.00. The disclosure for this sale can be found here. Insiders sold 30,589 shares of company stock worth $2,465,553 over the last quarter. 0.70% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. Teachers Advisors LLC raised its stake in shares of Eaton by 33.6% during the third quarter. Teachers Advisors LLC now owns 1,589,682 shares of the industrial products company’s stock valued at $137,873,000 after purchasing an additional 400,148 shares in the last quarter. Nordea Investment Management AB bought a new stake in shares of Eaton during the third quarter valued at about $11,970,000. Legal & General Group Plc raised its stake in shares of Eaton by 5.8% during the third quarter. Legal & General Group Plc now owns 2,386,641 shares of the industrial products company’s stock valued at $207,010,000 after purchasing an additional 131,355 shares in the last quarter. Morgan Stanley raised its stake in shares of Eaton by 6.4% during the third quarter. Morgan Stanley now owns 4,737,065 shares of the industrial products company’s stock valued at $410,845,000 after purchasing an additional 285,824 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in shares of Eaton during the third quarter valued at about $573,000. Institutional investors own 80.07% of the company’s stock.
Shares of ETN stock traded up $0.39 during mid-day trading on Friday, reaching $79.54. 615,649 shares of the company were exchanged, compared to its average volume of 2,182,092. Eaton has a fifty-two week low of $64.46 and a fifty-two week high of $89.46. The company has a current ratio of 1.47, a quick ratio of 0.92 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $33.21 billion, a P/E ratio of 14.76, a PEG ratio of 1.52 and a beta of 1.47.
Eaton (NYSE:ETN) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Eaton had a net margin of 10.06% and a return on equity of 14.56%. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.38 billion. During the same quarter last year, the company earned $1.10 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, research analysts predict that Eaton will post 5.89 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Thursday, May 2nd. Eaton’s payout ratio is 52.69%.
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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