Eaton Co. plc (NYSE:ETN) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Eaton Co. plc (NYSE:ETN) have received a consensus rating of “Moderate Buy” from the twenty analysts that are covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $364.65.

Several equities analysts have issued reports on ETN shares. Sanford C. Bernstein started coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective on the stock. UBS Group initiated coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective on the stock. JPMorgan Chase & Co. lowered their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating on shares of Eaton in a research note on Thursday, February 13th.

Insider Buying and Selling at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by corporate insiders.

Institutional Trading of Eaton

A number of hedge funds have recently made changes to their positions in ETN. Chicago Partners Investment Group LLC lifted its stake in Eaton by 100.9% during the third quarter. Chicago Partners Investment Group LLC now owns 3,078 shares of the industrial products company’s stock worth $1,062,000 after purchasing an additional 1,546 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Eaton by 9.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 251,983 shares of the industrial products company’s stock worth $83,517,000 after purchasing an additional 22,637 shares during the last quarter. Kanawha Capital Management LLC bought a new position in Eaton during the third quarter worth $207,000. Vestor Capital LLC bought a new position in Eaton during the third quarter worth $4,118,000. Finally, Wetzel Investment Advisors Inc. lifted its stake in Eaton by 1.5% during the third quarter. Wetzel Investment Advisors Inc. now owns 3,073 shares of the industrial products company’s stock worth $1,019,000 after purchasing an additional 44 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Down 5.3 %

ETN stock opened at $277.71 on Tuesday. The company has a fifty day moving average price of $325.70 and a 200 day moving average price of $332.62. Eaton has a 12 month low of $255.65 and a 12 month high of $379.99. The company has a market cap of $109.75 billion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (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 in the previous year, the company posted $2.55 EPS. Sell-side analysts expect that Eaton will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.50%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. Eaton’s dividend payout ratio is 43.79%.

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.