Eaton Co. plc (NYSE:ETN) Receives $366.56 Average PT from Brokerages

Shares of Eaton Co. plc (NYSE:ETNGet Free Report) have earned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $367.83.

Several research analysts have weighed in on ETN shares. Royal Bank of Canada increased their price target on shares of Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Citigroup increased their price target on shares of Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Jefferies Financial Group decreased their price objective 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. 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, 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.

Check Out Our Latest Report on ETN

Insiders Place Their Bets

In related news, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the transaction, the insider now directly owns 489,444 shares of the company’s stock, valued at approximately $149,490,880.92. The trade was a 9.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the transaction, the insider now directly owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock valued at $49,622,894 in the last three months. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Eaton

A number of large investors have recently made changes to their positions in the company. Belpointe Asset Management LLC lifted its holdings in Eaton by 2.5% during the 1st quarter. Belpointe Asset Management LLC now owns 2,906 shares of the industrial products company’s stock valued at $791,000 after buying an additional 71 shares in the last quarter. Focus Partners Wealth lifted its holdings in Eaton by 41.1% during the 1st quarter. Focus Partners Wealth now owns 81,444 shares of the industrial products company’s stock valued at $22,140,000 after buying an additional 23,736 shares in the last quarter. Integrity Alliance LLC. bought a new stake in Eaton during the 1st quarter valued at about $638,000. Ransom Advisory Ltd bought a new stake in Eaton during the 1st quarter valued at about $3,388,000. Finally, Anchor Investment Management LLC lifted its holdings in Eaton by 6.3% during the 1st quarter. Anchor Investment Management LLC now owns 1,345 shares of the industrial products company’s stock valued at $366,000 after buying an additional 80 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Trading Down 0.4%

Shares of ETN stock opened at $327.96 on Friday. Eaton has a 12-month low of $231.85 and a 12-month high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $289.04 and its 200 day moving average is $319.49. The stock has a market capitalization of $128.33 billion, a P/E ratio of 34.52, a P/E/G ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETNGet Free Report) 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. Research analysts expect that Eaton will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be paid a $1.04 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.27%. Eaton’s payout ratio is currently 41.98%.

About Eaton

(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.

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Analyst Recommendations for Eaton (NYSE:ETN)

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