Eaton (NYSE:ETN) Now Covered by BNP Paribas Exane

BNP Paribas Exane started coverage on shares of Eaton (NYSE:ETN) in a research report released on Thursday, Marketbeat.com reports. The firm issued an outperform rating and a $380.00 price target on the industrial products company’s stock.

Several other research analysts also recently weighed in on the stock. Melius Research reiterated a “hold” rating and issued a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Jefferies Financial Group decreased their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Morgan Stanley decreased their price objective on shares of Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada raised their price objective on shares of Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a research report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Eaton has an average rating of “Moderate Buy” and an average price target of $366.56.

Eaton Stock Up 0.8%

ETN opened at $329.40 on Thursday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton has a 1-year low of $231.85 and a 1-year high of $379.99. The company has a market capitalization of $128.89 billion, a PE ratio of 34.67, a PEG ratio of 2.64 and a beta of 1.14. The firm’s 50 day simple moving average is $287.40 and its two-hundred day simple moving average is $319.55.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period last year, the firm earned $2.40 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities analysts forecast that Eaton will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a dividend of $1.04 per share. The ex-dividend date is Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.26%. Eaton’s payout ratio is 41.98%.

Insider Activity at Eaton

In other Eaton news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction on Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the transaction, the insider now directly owns 490,208 shares of the company’s stock, valued at $158,214,632. This trade represents a 17.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the transaction, the insider now directly owns 3,382 shares of the company’s stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,660 shares of company stock valued at $49,622,894. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Eaton

A number of institutional investors and hedge funds have recently made changes to their positions in ETN. IMA Advisory Services Inc. purchased a new position in shares of Eaton in the 1st quarter worth $25,000. Capital A Wealth Management LLC bought a new stake in shares of Eaton in the 4th quarter worth about $26,000. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton in the 4th quarter worth about $27,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 51 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new stake in shares of Eaton in the 4th quarter worth about $30,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Company Profile

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.