Brokerages Set Eaton Co. plc (NYSE:ETN) Price Target at $364.65

Eaton Co. plc (NYSE:ETN) has been assigned an average rating of “Moderate Buy” from the nineteen ratings firms that are presently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $362.58.

ETN has been the subject of several recent research reports. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a report on Tuesday, January 28th. Barclays dropped their price objective on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Jefferies Financial Group boosted their price objective on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Melius Research reissued a “hold” rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Finally, Wells Fargo & Company decreased 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.

Eaton Stock Performance

Eaton stock opened at $277.16 on Tuesday. The stock has a 50-day simple moving average of $320.02 and a 200 day simple moving average of $332.04. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton has a 12-month low of $255.65 and a 12-month high of $379.99. The stock has a market capitalization of $108.65 billion, a price-to-earnings ratio of 29.17, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) 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 previous year, the business earned $2.55 earnings per share. On average, research analysts anticipate that Eaton will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.50%. Eaton’s payout ratio is currently 43.79%.

Insider Activity at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by insiders.

Institutional Investors Weigh In On Eaton

Institutional investors have recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new stake in Eaton in the 4th quarter valued at approximately $26,000. Flagship Wealth Advisors LLC bought a new stake in Eaton in the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new stake in Eaton in the 4th quarter valued at approximately $30,000. Groupama Asset Managment lifted its stake in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 4,298 shares in the last quarter. Finally, Horizon Bancorp Inc. IN lifted its stake in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

About Eaton

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.