Eaton (NYSE:ETN) Given New $355.00 Price Target at KeyCorp

Eaton (NYSE:ETN) had its price target boosted by KeyCorp from $325.00 to $355.00 in a research report released on Monday,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

Other equities analysts have also recently issued research reports about the stock. Melius Research reaffirmed a “hold” rating and issued a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Barclays lowered their price objective on Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a research note on Friday, April 4th. Royal Bank of Canada cut their price objective on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. StockNews.com upgraded shares of Eaton from a “hold” rating to a “buy” rating in a research report on Wednesday, April 30th. Finally, Evercore ISI reduced their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $361.13.

Eaton Stock Performance

Shares of ETN opened at $302.31 on Monday. The firm’s fifty day simple moving average is $281.59 and its two-hundred day simple moving average is $320.81. Eaton has a 12 month low of $231.85 and a 12 month high of $379.99. 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 stock has a market capitalization of $118.44 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN) last released its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the previous year, the company earned $2.40 EPS. Eaton’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, analysts predict that Eaton will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Monday, May 5th. Eaton’s dividend payout ratio (DPR) is currently 41.98%.

Insider Transactions at Eaton

In other news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider now directly owns 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.30% of the company’s stock.

Institutional Trading of Eaton

Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Eaton by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company’s stock worth $12,351,506,000 after acquiring an additional 99,291 shares during the period. FMR LLC raised its stake in shares of Eaton by 1.2% in the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company’s stock worth $5,051,807,000 after buying an additional 182,455 shares during the period. Geode Capital Management LLC grew its stake in shares of Eaton by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company’s stock valued at $2,714,677,000 after acquiring an additional 129,071 shares during the period. Nuveen Asset Management LLC increased its holdings in Eaton by 4.3% in the 4th quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company’s stock worth $1,550,226,000 after acquiring an additional 192,482 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Eaton by 8.8% in the fourth quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company’s stock worth $1,518,207,000 after purchasing an additional 368,241 shares during the period. 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.