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

Shares of Eaton Co. plc (NYSE:ETN) have received an average rating of “Moderate Buy” from the nineteen research firms that are presently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $350.22.

A number of research analysts have issued reports on ETN shares. Evercore ISI reduced their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Jefferies Financial Group lowered their price objective on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Royal Bank of Canada decreased their price target on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Barclays dropped 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. Finally, Wells Fargo & Company decreased their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th.

Eaton Price Performance

Shares of NYSE:ETN opened at $291.12 on Wednesday. The stock’s fifty day simple moving average is $280.76 and its two-hundred day simple moving average is $322.52. The stock has a market cap of $114.05 billion, a PE ratio of 30.64, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton has a 1-year low of $231.85 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period last year, the business posted $2.55 earnings per share. As a group, analysts forecast that Eaton will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

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

Institutional Investors Weigh In On Eaton

Several hedge funds have recently bought and sold shares of the stock. Morse Asset Management Inc purchased a new stake in Eaton during the third quarter valued at about $33,000. Bard Financial Services Inc. purchased a new position in shares of Eaton during the 3rd quarter valued at about $255,000. Advisory Resource Group lifted its position in Eaton by 10.9% in the 3rd quarter. Advisory Resource Group now owns 4,358 shares of the industrial products company’s stock worth $1,444,000 after buying an additional 428 shares during the last quarter. Chelsea Counsel Co. boosted its stake in Eaton by 29.4% in the third quarter. Chelsea Counsel Co. now owns 220 shares of the industrial products company’s stock worth $73,000 after buying an additional 50 shares in the last quarter. Finally, Tudor Financial Inc. bought a new position in Eaton during the third quarter valued at approximately $265,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Company Profile

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.