Eaton (NYSE:ETN) Rating Reiterated by Mizuho

Mizuho reissued their buy rating on shares of Eaton (NYSE:ETNFree Report) in a report released on Wednesday morning, Benzinga reports. Mizuho currently has a $355.00 price objective on the industrial products company’s stock, up from their prior price objective of $340.00.

Several other brokerages also recently weighed in on ETN. UBS Group boosted their price objective on shares of Eaton from $255.00 to $305.00 and gave the stock a buy rating in a research report on Friday, February 2nd. The Goldman Sachs Group boosted their price target on shares of Eaton from $287.00 to $328.00 and gave the company a buy rating in a research report on Friday, March 15th. Bank of America raised their price objective on Eaton from $320.00 to $330.00 and gave the stock a buy rating in a report on Monday, March 18th. Citigroup boosted their target price on Eaton from $270.00 to $310.00 and gave the company a buy rating in a report on Friday, February 2nd. Finally, Wolfe Research restated an underperform rating and set a $312.00 price target on shares of Eaton in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $314.27.

Get Our Latest Stock Report on ETN

Eaton Stock Performance

Shares of ETN stock opened at $320.50 on Wednesday. Eaton has a 12 month low of $165.24 and a 12 month high of $333.05. The company has a current ratio of 1.56, a quick ratio of 1.02 and a debt-to-equity ratio of 0.42. The company has a market cap of $128.14 billion, a P/E ratio of 37.84, a PEG ratio of 2.49 and a beta of 1.06. The firm has a fifty day moving average price of $307.97 and a 200 day moving average price of $261.18.

Eaton (NYSE:ETNGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.88 EPS. Sell-side analysts predict that Eaton will post 10.45 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, May 3rd. Eaton’s dividend payout ratio is presently 44.39%.

Insider Buying and Selling at Eaton

In other news, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the sale, the insider now owns 630 shares in the company, valued at approximately $171,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the transaction, the insider now directly owns 630 shares of the company’s stock, valued at approximately $171,360. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the sale, the insider now owns 29,712 shares in the company, valued at $8,116,427.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,969 shares of company stock valued at $10,904,774. 0.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eaton

A number of large investors have recently made changes to their positions in ETN. FMR LLC increased its holdings in Eaton by 36.0% in the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after buying an additional 5,270,331 shares in the last quarter. Norges Bank acquired a new stake in shares of Eaton in the 4th quarter worth approximately $1,087,983,000. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Eaton in the 3rd quarter valued at approximately $340,500,000. Jennison Associates LLC raised its holdings in Eaton by 2,857.4% during the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after purchasing an additional 1,219,790 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in Eaton by 2,006.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company’s stock worth $232,326,000 after purchasing an additional 918,936 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Company Profile

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Eaton (NYSE:ETN)

Receive News & Ratings for Eaton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton and related companies with MarketBeat.com's FREE daily email newsletter.