Eaton Co. plc (NYSE:ETN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Eaton Co. plc (NYSE:ETN) has been given an average rating of “Moderate Buy” by the seventeen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $335.18.

A number of analysts have recently commented on ETN shares. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Wells Fargo & Company cut their target price on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Evercore ISI cut their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Royal Bank of Canada cut their target price on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Raymond James cut their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th.

Insider Buying and Selling at Eaton

In other news, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the transaction, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Karenann K. Terrell bought 500 shares of the 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 acquisition, the director now owns 500 shares in the company, valued at approximately $149,485. The disclosure for this purchase can be found here. Insiders have sold 52,511 shares of company stock worth $15,809,326 in the last ninety days. 0.53% of the stock is owned by insiders.

Institutional Trading of Eaton

Large investors have recently bought and sold shares of the business. LifeSteps Financial Inc. acquired a new stake in Eaton during the 1st quarter worth $25,000. Breakwater Investment Management boosted its stake in Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares during the period. Atwood & Palmer Inc. boosted its stake in Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 50 shares during the period. Proffitt & Goodson Inc. acquired a new stake in Eaton during the 2nd quarter worth $29,000. Finally, LGT Financial Advisors LLC acquired a new stake in Eaton during the 2nd quarter worth $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Up 0.8 %

ETN opened at $305.80 on Tuesday. Eaton has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The company has a fifty day moving average of $300.56 and a two-hundred day moving average of $311.66. The stock has a market capitalization of $121.74 billion, a price-to-earnings ratio of 36.10, a PEG ratio of 2.28 and a beta of 1.01.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. On average, research analysts expect that Eaton will post 10.74 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a $0.94 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.23%. Eaton’s payout ratio is 44.39%.

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.