Eaton (NYSE:ETN) Price Target Raised to $464.00
by Renee Jackson · The Cerbat GemEaton (NYSE:ETN – Free Report) had its price objective boosted by Citigroup from $435.00 to $464.00 in a research note issued to investors on Monday,Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.
Other equities research analysts have also recently issued reports about the company. Barclays dropped their price target on Eaton from $354.00 to $340.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. Jefferies Financial Group began coverage on Eaton in a report on Monday, March 16th. They set a “buy” rating and a $430.00 price target for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Eaton in a report on Wednesday, January 21st. UBS Group reaffirmed a “neutral” rating and set a $360.00 price target (down from $440.00) on shares of Eaton in a report on Sunday, January 4th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $407.00 price target on shares of Eaton in a report on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $396.50.
Get Our Latest Stock Analysis on Eaton
Eaton Price Performance
Eaton stock opened at $395.40 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.32 and a quick ratio of 0.81. The company has a market capitalization of $153.41 billion, a PE ratio of 37.80, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17. Eaton has a one year low of $255.10 and a one year high of $408.45. The business has a 50 day simple moving average of $370.68 and a 200 day simple moving average of $357.08.
Eaton (NYSE:ETN – Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The industrial products company reported $3.23 earnings per share for the quarter. Eaton had a return on equity of 25.00% and a net margin of 14.89%.The firm had revenue of $7.06 billion during the quarter. On average, sell-side analysts forecast that Eaton will post 12.02 EPS for the current fiscal year.
Eaton Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th were paid a $1.10 dividend. This is an increase from Eaton’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.1%. Eaton’s dividend payout ratio (DPR) is currently 42.07%.
Insider Buying and Selling at Eaton
In other news, insider Sternadt Paulo Ruiz sold 10,707 shares of the stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $390.26, for a total value of $4,178,513.82. Following the transaction, the insider owned 27,729 shares of the company’s stock, valued at $10,821,519.54. This represents a 27.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.10% of the stock is currently owned by company insiders.
Institutional Trading of Eaton
Large investors have recently made changes to their positions in the company. Hilton Head Capital Partners LLC bought a new position in Eaton during the 4th quarter worth about $26,000. Sfam LLC bought a new position in Eaton during the 4th quarter worth about $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Eaton during the 4th quarter worth about $28,000. Eagle Bay Advisors LLC bought a new position in Eaton during the 4th quarter worth about $29,000. Finally, WFA of San Diego LLC bought a new position in Eaton during the 2nd quarter worth about $36,000. Institutional investors own 82.97% of the company’s stock.
About Eaton
Eaton (NYSE: ETN) is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company’s offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.
Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.