Eaton Co. PLC (ETN) Receives Average Rating of “Hold” from Analysts

Shares of Eaton Co. PLC (NYSE:ETN) have been given an average rating of “Hold” by the twenty brokerages that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $86.50.

A number of equities research analysts recently commented on ETN shares. Credit Suisse Group restated an “outperform” rating and set a $80.00 price target (down from $85.00) on shares of Eaton in a research report on Thursday, January 3rd. Zacks Investment Research lowered Eaton from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Barclays decreased their price target on Eaton from $75.00 to $73.00 and set an “underweight” rating on the stock in a research report on Monday, January 7th. Vertical Research upgraded Eaton from a “hold” rating to a “buy” rating in a research report on Monday, March 4th. Finally, Robert W. Baird set a $88.00 price target on Eaton and gave the stock a “buy” rating in a research report on Friday, January 25th.

Shares of ETN stock traded up $0.78 during trading hours on Monday, hitting $85.21. The company had a trading volume of 1,637,652 shares, compared to its average volume of 2,551,647. Eaton has a 12 month low of $64.46 and a 12 month high of $89.46. The firm has a market cap of $36.15 billion, a P/E ratio of 15.81, a P/E/G ratio of 1.54 and a beta of 1.48. The company has a current ratio of 1.47, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, January 31st. The industrial products company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.03. Eaton had a return on equity of 14.06% and a net margin of 9.93%. The company had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.42 billion. Sell-side analysts forecast that Eaton will post 5.86 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Saturday, March 9th were given a $0.71 dividend. The ex-dividend date was Thursday, March 7th. This represents a $2.84 dividend on an annualized basis and a yield of 3.33%. Eaton’s payout ratio is 52.69%.

In other Eaton news, insider Curtis J. Hutchins sold 37,625 shares of the stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $76.02, for a total value of $2,860,252.50. Following the transaction, the insider now directly owns 15,872 shares in the company, valued at approximately $1,206,589.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heath B. Monesmith sold 7,167 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $81.25, for a total value of $582,318.75. Following the completion of the transaction, the insider now owns 26,344 shares in the company, valued at $2,140,450. The disclosure for this sale can be found here. Insiders sold a total of 73,214 shares of company stock worth $5,709,455 over the last quarter. Corporate insiders own 0.70% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Princeton Global Asset Management LLC acquired a new position in shares of Eaton in the 4th quarter valued at $317,000. Suntrust Banks Inc. lifted its stake in shares of Eaton by 5.1% in the 4th quarter. Suntrust Banks Inc. now owns 182,110 shares of the industrial products company’s stock valued at $12,504,000 after purchasing an additional 8,900 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Eaton in the 4th quarter valued at $589,000. Wells Trecaso Financial Group LLC lifted its stake in shares of Eaton by 1.0% in the 1st quarter. Wells Trecaso Financial Group LLC now owns 56,523 shares of the industrial products company’s stock valued at $4,553,000 after purchasing an additional 552 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Eaton by 7.9% in the 4th quarter. Legal & General Group Plc now owns 2,574,900 shares of the industrial products company’s stock valued at $176,771,000 after purchasing an additional 188,259 shares during the period. Hedge funds and other institutional investors own 78.15% of the company’s stock.

About Eaton

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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Analyst Recommendations for Eaton (NYSE:ETN)

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