Eaton (NYSE:ETN) Upgraded to “Overweight” at KeyCorp

KeyCorp upgraded shares of Eaton (NYSE:ETN) from a sector weight rating to an overweight rating in a research note published on Wednesday morning, Marketbeat Ratings reports. The firm currently has $340.00 target price on the industrial products company’s stock. KeyCorp also issued estimates for Eaton’s Q1 2025 earnings at $2.70 EPS, Q2 2025 earnings at $3.12 EPS, Q3 2025 earnings at $3.06 EPS, Q4 2025 earnings at $3.18 EPS, FY2025 earnings at $12.05 EPS and FY2026 earnings at $13.46 EPS.

A number of other research analysts have also recently commented on ETN. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a report on Tuesday, January 28th. Bank of America raised their target price on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Barclays lowered their price target on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Citigroup reduced their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Wells Fargo & Company dropped their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $356.20.

Eaton Stock Performance

Shares of Eaton stock opened at $294.53 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company has a market cap of $115.45 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a 50 day moving average of $316.31 and a 200-day moving average of $331.29. Eaton has a 1-year low of $255.65 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period in the prior year, the firm posted $2.55 EPS. As a group, equities research analysts forecast that Eaton will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a $1.04 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.41%. Eaton’s payout ratio is presently 43.79%.

Institutional Trading of Eaton

A number of large investors have recently bought and sold shares of ETN. United Bank acquired a new stake in Eaton during the third quarter worth approximately $258,000. Wolverine Asset Management LLC bought a new position in shares of Eaton during the 3rd quarter worth approximately $1,160,000. Venturi Wealth Management LLC grew its position in shares of Eaton by 2.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after buying an additional 32 shares during the period. Nations Financial Group Inc. IA ADV increased its stake in shares of Eaton by 72.2% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 3,419 shares of the industrial products company’s stock valued at $1,133,000 after acquiring an additional 1,434 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Eaton during the 3rd quarter valued at $295,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.