Eaton Co. plc (NYSE:ETN) Receives Average Rating of “Buy” from Analysts

Eaton Co. plc (NYSE:ETN) has been given a consensus rating of “Buy” by the eighteen brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $136.94.

ETN has been the subject of several research reports. Credit Suisse Group upped their price target on shares of Eaton from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 3rd. Oppenheimer increased their price target on shares of Eaton from $133.00 to $145.00 in a research report on Tuesday, March 2nd. Citigroup lifted their target price on Eaton from $142.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, March 31st. Berenberg Bank raised shares of Eaton from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a report on Monday, March 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Eaton from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Tuesday.

In related news, insider Uday Yadav sold 11,769 shares of Eaton stock in a transaction that occurred on Thursday, February 25th. The shares were sold at an average price of $132.17, for a total value of $1,555,508.73. Following the completion of the sale, the insider now directly owns 22,436 shares in the company, valued at approximately $2,965,366.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian S. Brickhouse sold 22,758 shares of the business’s stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $135.80, for a total transaction of $3,090,536.40. Following the sale, the insider now directly owns 15,587 shares in the company, valued at approximately $2,116,714.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,740 shares of company stock worth $4,945,066. 0.54% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Oder Investment Management LLC acquired a new position in shares of Eaton in the fourth quarter valued at about $25,000. Charter Oak Capital Management LLC purchased a new position in Eaton during the 4th quarter worth approximately $30,000. Allworth Financial LP lifted its stake in Eaton by 605.3% during the 4th quarter. Allworth Financial LP now owns 268 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 230 shares during the period. McCarthy Asset Management Inc. purchased a new stake in shares of Eaton in the 4th quarter valued at $34,000. Finally, Peoples Financial Services CORP. increased its stake in shares of Eaton by 69.0% in the fourth quarter. Peoples Financial Services CORP. now owns 294 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 120 shares during the period. 77.88% of the stock is owned by institutional investors.

Eaton stock traded up $0.44 during midday trading on Friday, reaching $140.24. 1,551,154 shares of the company traded hands, compared to its average volume of 2,378,708. Eaton has a 12 month low of $70.54 and a 12 month high of $143.29. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.49 and a quick ratio of 1.13. The business has a 50 day moving average of $137.14 and a two-hundred day moving average of $121.54. The firm has a market capitalization of $55.87 billion, a price-to-earnings ratio of 41.25, a price-to-earnings-growth ratio of 2.34 and a beta of 1.12.

Eaton (NYSE:ETN) last released its quarterly earnings results on Monday, February 1st. The industrial products company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.08. The firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.62 billion. Eaton had a return on equity of 11.94% and a net margin of 7.53%. The company’s revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.37 EPS. As a group, equities analysts forecast that Eaton will post 4.17 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 30th. Stockholders of record on Tuesday, March 16th were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Monday, March 15th. This is an increase from Eaton’s previous quarterly dividend of $0.73. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.17%. Eaton’s dividend payout ratio is presently 53.62%.

About Eaton

Eaton Corporation plc operates as a power management company. Its Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services in North and South America, as well as hazardous duty electrical, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems internationally.

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Analyst Recommendations for Eaton (NYSE:ETN)

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