Stifel Nicolaus reissued their buy rating on shares of Eaton (NYSE:ETN) in a report released on Wednesday. The brokerage currently has a $88.00 price target on the industrial products company’s stock.
A number of other equities analysts have also recently weighed in on the stock. Jefferies Group raised shares of Eaton from a hold rating to a buy rating and set a $80.00 price objective for the company in a research report on Monday, March 26th. Bank of America raised shares of Eaton from an underperform rating to a neutral rating and upped their price objective for the company from $81.03 to $85.00 in a research report on Thursday, March 8th. JPMorgan Chase raised shares of Eaton from an underweight rating to a neutral rating and set a $82.00 price objective for the company in a research report on Thursday, March 1st. Barclays initiated coverage on shares of Eaton in a research report on Thursday, February 15th. They issued an equal weight rating and a $90.00 price objective for the company. Finally, Argus raised shares of Eaton to a buy rating and increased their price target for the stock from $85.00 to $90.00 in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $86.64.
NYSE:ETN opened at $75.97 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 1.13. The stock has a market capitalization of $34,885.85, a price-to-earnings ratio of 16.34, a PEG ratio of 1.55 and a beta of 1.36. Eaton has a 1-year low of $69.82 and a 1-year high of $89.85.
Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Eaton had a net margin of 14.60% and a return on equity of 12.84%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.12 EPS. sell-side analysts expect that Eaton will post 5.17 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Stockholders of record on Monday, March 12th were given a dividend of $0.66 per share. This is a boost from Eaton’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, March 9th. This represents a $2.64 annualized dividend and a dividend yield of 3.48%. Eaton’s dividend payout ratio (DPR) is presently 56.77%.
In related news, insider Ken D. Semelsberger sold 15,595 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $82.67, for a total transaction of $1,289,238.65. Following the sale, the insider now owns 104,613 shares in the company, valued at $8,648,356.71. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Deborah L. Mccoy sold 4,000 shares of the stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $82.23, for a total transaction of $328,920.00. Following the sale, the director now owns 35,936 shares in the company, valued at approximately $2,955,017.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,769 shares of company stock worth $2,083,823. 0.50% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. raised its stake in Eaton by 0.5% during the fourth quarter. Baird Financial Group Inc. now owns 135,991 shares of the industrial products company’s stock worth $10,745,000 after acquiring an additional 630 shares during the period. HPM Partners LLC raised its stake in Eaton by 2.9% during the fourth quarter. HPM Partners LLC now owns 23,379 shares of the industrial products company’s stock worth $1,847,000 after acquiring an additional 662 shares during the period. Twin Tree Management LP raised its stake in Eaton by 23.9% during the fourth quarter. Twin Tree Management LP now owns 3,548 shares of the industrial products company’s stock worth $280,000 after acquiring an additional 684 shares during the period. Sentry Investment Management LLC raised its stake in Eaton by 2.1% during the fourth quarter. Sentry Investment Management LLC now owns 34,722 shares of the industrial products company’s stock worth $2,743,000 after acquiring an additional 701 shares during the period. Finally, Eaton Vance Management raised its stake in Eaton by 0.4% during the fourth quarter. Eaton Vance Management now owns 158,329 shares of the industrial products company’s stock worth $12,510,000 after acquiring an additional 708 shares during the period. Hedge funds and other institutional investors own 78.90% of the company’s stock.
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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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