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

Eaton Co. plc (NYSE:ETN) has been given a consensus rating of “Moderate Buy” by the nineteen research firms that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $350.22.

Several research firms recently issued reports on ETN. StockNews.com lowered shares of Eaton from a “buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research note on Tuesday, January 28th. Melius Research restated a “hold” rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Barclays decreased their target price on Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a research report on Friday, April 4th. Finally, Royal Bank of Canada dropped their target price on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a report on Thursday, March 6th.

Eaton Trading Up 1.2 %

Shares of NYSE:ETN opened at $291.12 on Wednesday. The company has a market capitalization of $114.05 billion, a P/E ratio of 30.64, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The business’s 50 day simple moving average is $280.76 and its 200 day simple moving average is $322.52. Eaton has a 1 year low of $231.85 and a 1 year high of $379.99.

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

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Monday, May 5th. Eaton’s dividend payout ratio is currently 43.79%.

Institutional Investors Weigh In On Eaton

Hedge funds have recently added to or reduced their stakes in the business. Capital A Wealth Management LLC bought a new stake in Eaton in the 4th quarter valued at about $26,000. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton during the fourth quarter worth approximately $27,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 51 shares in the last quarter. Noble Wealth Management PBC acquired a new stake in Eaton in the 4th quarter valued at $30,000. Finally, Horizon Bancorp Inc. IN raised its holdings in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after buying an additional 74 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

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.