Eaton (NYSE:ETN) Price Target Increased to $385.00 by Analysts at Jefferies Financial Group

Eaton (NYSE:ETN) had its price target upped by Jefferies Financial Group from $370.00 to $385.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group boosted their price target on shares of Eaton from $287.00 to $328.00 and gave the stock a buy rating in a research report on Friday, March 15th. Barclays upped their target price on Eaton from $316.00 to $318.00 and gave the stock an equal weight rating in a research report on Wednesday. Mizuho reissued a buy rating and issued a $355.00 price objective (up previously from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. Argus upped their price objective on Eaton from $290.00 to $350.00 and gave the company a buy rating in a report on Thursday, May 2nd. Finally, Wolfe Research reiterated an underperform rating and issued a $312.00 price target on shares of Eaton in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eaton presently has an average rating of Moderate Buy and an average target price of $323.06.

Eaton Trading Up 0.5 %

ETN opened at $330.48 on Thursday. The stock has a market capitalization of $132.13 billion, a PE ratio of 39.02, a P/E/G ratio of 2.77 and a beta of 1.02. The firm’s fifty day moving average price is $325.94 and its 200 day moving average price is $298.51. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05. Eaton has a 12-month low of $191.82 and a 12-month high of $345.19.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.12. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. Eaton’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.88 earnings per share. As a group, research analysts expect that Eaton will post 10.55 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, May 3rd. Eaton’s payout ratio is 44.39%.

Insider Transactions at Eaton

In related news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the sale, the insider now owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by insiders.

Institutional Trading of Eaton

A number of institutional investors have recently bought and sold shares of the business. Ritholtz Wealth Management increased its holdings in Eaton by 5.1% in the fourth quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock valued at $1,379,000 after purchasing an additional 277 shares during the last quarter. Pinnbrook Capital Management LP bought a new position in Eaton during the 4th quarter worth approximately $15,109,000. Congress Wealth Management LLC DE grew its holdings in Eaton by 8.1% during the fourth quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock valued at $18,479,000 after purchasing an additional 5,725 shares during the period. Pacer Advisors Inc. increased its stake in Eaton by 30.5% in the fourth quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock valued at $8,205,000 after purchasing an additional 7,964 shares in the last quarter. Finally, Norden Group LLC bought a new position in shares of Eaton during the first quarter worth $2,176,000. 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.