Eaton (NYSE:ETN) Sets New 12-Month High at $333.06

Eaton Co. plc (NYSE:ETN)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $333.06 and last traded at $323.73, with a volume of 878417 shares changing hands. The stock had previously closed at $326.51.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Berenberg Bank increased their price target on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Wolfe Research reiterated an “underperform” rating and issued a $312.00 target price on shares of Eaton in a research note on Monday, April 8th. Citigroup boosted their price target on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Mizuho raised their price objective on Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, UBS Group boosted their price objective on Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $295.60.

Eaton Stock Down 3.9 %

The stock has a market capitalization of $125.41 billion, a P/E ratio of 40.75, a P/E/G ratio of 2.69 and a beta of 1.07. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average is $305.81 and its 200-day moving average is $259.67.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The firm had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the previous year, the company posted $2.06 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities research analysts predict that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.20%. Eaton’s payout ratio is 46.88%.

Insider Activity

In other Eaton news, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Eaton news, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now directly owns 5,514 shares in the company, valued at approximately $1,593,380.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the sale, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock valued at $10,904,774 over the last three months. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Eaton

Several hedge funds have recently added to or reduced their stakes in ETN. Verdence Capital Advisors LLC increased its position in shares of Eaton by 1.7% in the 1st quarter. Verdence Capital Advisors LLC now owns 2,059 shares of the industrial products company’s stock valued at $644,000 after buying an additional 34 shares in the last quarter. Wendell David Associates Inc. increased its holdings in shares of Eaton by 4.0% in the first quarter. Wendell David Associates Inc. now owns 936 shares of the industrial products company’s stock worth $293,000 after acquiring an additional 36 shares in the last quarter. Fragasso Group Inc. raised its position in shares of Eaton by 3.6% during the first quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company’s stock worth $323,000 after purchasing an additional 36 shares during the period. Valley National Advisers Inc. lifted its holdings in shares of Eaton by 5.6% during the 1st quarter. Valley National Advisers Inc. now owns 682 shares of the industrial products company’s stock valued at $213,000 after purchasing an additional 36 shares in the last quarter. Finally, FinTrust Capital Advisors LLC grew its position in shares of Eaton by 2.6% in the 4th quarter. FinTrust Capital Advisors LLC now owns 1,481 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Company Profile

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.