Eaton Co. plc (NYSE:ETN) Announces Quarterly Dividend of $0.94

by · The Markets Daily

Eaton Co. plc (NYSE:ETN – Get Free Report) announced a quarterly dividend on Tuesday, October 22nd, RTT News reports. Investors of record on Monday, November 4th will be paid a dividend of 0.94 per share by the industrial products company on Friday, November 22nd. This represents a $3.76 annualized dividend and a yield of 1.09%.

Eaton has a dividend payout ratio of 31.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Eaton to earn $12.12 per share next year, which means the company should continue to be able to cover its $3.76 annual dividend with an expected future payout ratio of 31.0%.

Eaton Stock Performance

Shares of NYSE:ETN traded down $3.42 during trading on Tuesday, hitting $343.65. 443,411 shares of the company traded hands, compared to its average volume of 2,101,568. The stock has a market capitalization of $137.39 billion, a price-to-earnings ratio of 40.77, a PEG ratio of 2.58 and a beta of 1.02. The business’s fifty day moving average is $315.18 and its 200-day moving average is $316.83. Eaton has a one year low of $193.26 and a one year high of $349.74. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44.

Eaton (NYSE:ETN – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.12. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, equities analysts predict that Eaton will post 10.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

ETN has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price for the company. Evercore ISI cut their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Jefferies Financial Group boosted their target price on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Mizuho upped their price target on shares of Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Citigroup began coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price target on the stock. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $340.06.

Get Our Latest Stock Analysis on Eaton

Insider Buying and Selling

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Dorothy C. Thompson acquired 2,205 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the acquisition, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the sale, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock valued at $15,809,326 over the last quarter. Corporate insiders own 0.53% of the company’s stock.

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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