Eaton (NYSE:ETN) Hits New 52-Week Low After Analyst Downgrade

Eaton Co. plc (NYSE:ETN) hit a new 52-week low on Friday after Barclays lowered their price target on the stock from $315.00 to $306.00. Barclays currently has an equal weight rating on the stock. Eaton traded as low as $245.85 and last traded at $246.65, with a volume of 348107 shares traded. The stock had previously closed at $260.85.

Several other research analysts have also recently weighed in on the company. Evercore ISI decreased their price target 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 target price on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Citigroup reduced their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. lowered their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Finally, StockNews.com downgraded shares of Eaton from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $356.68.

Institutional Inflows and Outflows

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

Eaton Trading Down 5.6 %

The stock has a market cap of $96.52 billion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The stock’s 50-day moving average is $296.43 and its two-hundred day moving average is $330.00. 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 issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter last year, the business earned $2.55 earnings per share. Equities research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.69%. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, March 10th. Eaton’s dividend payout ratio is 43.79%.

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.