Eaton (NYSE:ETN) Now Covered by Analysts at UBS Group

UBS Group assumed coverage on shares of Eaton (NYSE:ETN) in a research report report published on Wednesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $431.00 target price on the industrial products company’s stock.

Other research analysts have also issued reports about the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $374.00 target price on shares of Eaton in a research note on Friday, November 1st. Raymond James reduced their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and upped their price objective for the company from $333.00 to $389.00 in a report on Wednesday. Citigroup assumed coverage on shares of Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 target price on the stock. Finally, Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $357.83.

Eaton Trading Down 0.7 %

Eaton stock opened at $367.15 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The stock’s 50 day simple moving average is $332.81 and its two-hundred day simple moving average is $320.84. Eaton has a 12 month low of $224.52 and a 12 month high of $373.49. The firm has a market cap of $145.10 billion, a PE ratio of 39.35, a P/E/G ratio of 2.96 and a beta of 1.01.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter last year, the company earned $2.47 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts anticipate that Eaton will post 10.79 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be given a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.02%. Eaton’s dividend payout ratio is presently 40.00%.

Insider Activity

In related news, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was bought at an average price of $298.97 per share, with a total value of $149,485.00. Following the purchase, the director now directly owns 500 shares in the company, valued at $149,485. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were bought at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the purchase, the director now directly owns 500 shares of the company’s stock, valued at approximately $149,485. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,705 shares of company stock worth $24,516,346 over the last three months. 0.53% of the stock is currently owned by corporate insiders.

Institutional Trading of Eaton

Several hedge funds have recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Eaton by 16.5% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 27,561 shares of the industrial products company’s stock valued at $8,618,000 after purchasing an additional 3,913 shares during the period. Kingsview Wealth Management LLC raised its position in shares of Eaton by 4.8% in the first quarter. Kingsview Wealth Management LLC now owns 20,579 shares of the industrial products company’s stock valued at $6,435,000 after purchasing an additional 947 shares during the period. Orion Portfolio Solutions LLC lifted its position in Eaton by 2.7% during the 1st quarter. Orion Portfolio Solutions LLC now owns 31,811 shares of the industrial products company’s stock worth $9,947,000 after acquiring an additional 825 shares during the last quarter. Leo Wealth LLC boosted its stake in Eaton by 84.2% during the 1st quarter. Leo Wealth LLC now owns 2,468 shares of the industrial products company’s stock valued at $771,000 after purchasing an additional 1,128 shares during the period. Finally, Gratus Wealth Advisors LLC bought a new position in Eaton during the first quarter worth $255,000. Institutional investors 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.