Eaton (ETN) Stock Rating Lowered by Barclays

Barclays downgraded shares of Eaton (NYSE:ETN) from an equal weight rating to an underweight rating in a research report released on Monday morning.

Other equities research analysts have also recently issued research reports about the company. ValuEngine upgraded Eaton from a hold rating to a buy rating in a report on Friday, February 2nd. Stifel Nicolaus raised Eaton from a hold rating to a buy rating and increased their target price for the stock from $77.00 to $99.00 in a research report on Sunday, February 4th. Jefferies Group reaffirmed a hold rating and issued a $90.00 target price on shares of Eaton in a research report on Friday, February 2nd. Citigroup cut their target price on Eaton from $100.00 to $95.00 and set a buy rating on the stock in a research report on Wednesday, May 2nd. Finally, Zacks Investment Research raised Eaton from a sell rating to a hold rating in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $86.33.

ETN stock opened at $74.70 on Monday. Eaton has a 52-week low of $69.82 and a 52-week high of $89.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.00 and a current ratio of 1.51. The firm has a market cap of $32.74 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 1.46 and a beta of 1.37.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, May 1st. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.03. Eaton had a return on equity of 12.77% and a net margin of 14.59%. The business had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter last year, the firm earned $0.96 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. equities research analysts predict that Eaton will post 5.21 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 18th. Stockholders of record on Friday, May 4th will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, May 3rd. This represents a $2.64 annualized dividend and a dividend yield of 3.53%. Eaton’s dividend payout ratio is presently 56.77%.

In other news, Director Deborah L. Mccoy sold 4,000 shares of the firm’s 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 completion of the sale, the director now directly owns 35,936 shares in the company, valued at $2,955,017.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ken D. Semelsberger sold 15,595 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $82.67, for a total value of $1,289,238.65. Following the sale, the insider now owns 104,613 shares of the company’s stock, valued at $8,648,356.71. The disclosure for this sale can be found here. Insiders have sold 29,769 shares of company stock valued at $2,083,823 over the last 90 days. Insiders own 0.50% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Aperio Group LLC grew its stake in Eaton by 9.6% in the first quarter. Aperio Group LLC now owns 417,794 shares of the industrial products company’s stock worth $33,386,000 after purchasing an additional 36,622 shares in the last quarter. Strategic Wealth Advisors Group LLC acquired a new position in Eaton in the first quarter worth about $1,561,000. Fiduciary Trust Co. acquired a new position in Eaton in the first quarter worth about $271,000. Focused Wealth Management Inc grew its stake in Eaton by 33.5% in the first quarter. Focused Wealth Management Inc now owns 3,794 shares of the industrial products company’s stock worth $303,000 after purchasing an additional 951 shares in the last quarter. Finally, Synovus Financial Corp grew its stake in Eaton by 32.1% in the first quarter. Synovus Financial Corp now owns 104,448 shares of the industrial products company’s stock worth $8,353,000 after purchasing an additional 25,383 shares in the last quarter. Institutional investors own 79.18% of the company’s stock.

Eaton Company Profile

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.

Analyst Recommendations for Eaton (NYSE:ETN)

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