Eaton (NYSE:ETN) Price Target Raised to $356.00

by · The Markets Daily

Eaton (NYSE:ETN – Free Report) had its price objective upped by Royal Bank of Canada from $336.00 to $356.00 in a research report released on Monday morning, MarketBeat Ratings reports. Royal Bank of Canada currently has an outperform rating on the industrial products company’s stock.

A number of other equities research analysts have also recently commented on ETN. Barclays reduced their target price on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a research report on Friday, April 4th. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a research report on Tuesday, January 28th. JPMorgan Chase & Co. reduced their price target on Eaton from $350.00 to $289.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. 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. Finally, Jefferies Financial Group cut their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $361.13.

Check Out Our Latest Stock Analysis on Eaton

Eaton Price Performance

Shares of NYSE ETN opened at $302.31 on Monday. 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 stock has a market capitalization of $118.44 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.64 and a beta of 1.14. The firm’s 50 day simple moving average is $281.59 and its 200-day simple moving average is $320.81. Eaton has a 12 month low of $231.85 and a 12 month high of $379.99.

Eaton (NYSE:ETN – Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. Eaton’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $2.40 earnings per share. Analysts expect that Eaton will post 12.02 EPS for the current year.

Eaton Dividend Announcement

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

Insider Transactions at Eaton

In related news, insider Michael Yelton sold 2,120 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Eaton

Several institutional investors have recently bought and sold shares of the company. Wetzel Investment Advisors Inc. increased its stake in Eaton by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 28 shares in the last quarter. Westmount Partners LLC grew its stake in shares of Eaton by 3.1% in the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after buying an additional 30 shares in the last quarter. Signal Advisors Wealth LLC lifted its stake in shares of Eaton by 3.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 30 shares in the last quarter. Lantz Financial LLC boosted its stake in Eaton by 4.8% during the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock valued at $219,000 after acquiring an additional 30 shares during the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in shares of Eaton by 2.0% in the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company’s stock valued at $544,000 after purchasing an additional 32 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Company Profile

(Get Free Report)

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.

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