Investment Analysts’ Recent Ratings Updates for Eaton (ETN)

A number of research firms have changed their ratings and price targets for Eaton (NYSE: ETN):

• 9/16/2024 – Eaton is now covered by analysts at Citigroup Inc.. They set a “buy” rating and a $348.00 price target on the stock.
• 9/9/2024 – Eaton had its price target lowered by analysts at Raymond James from $375.00 to $365.00. They now have an “outperform” rating on the stock.
• 9/6/2024 – Eaton was upgraded by analysts at Wolfe Research from an “underperform” rating to a “peer perform” rating.
• 9/6/2024 – Eaton is now covered by analysts at Morgan Stanley. They set an “overweight” rating and a $370.00 price target on the stock.
• 8/19/2024 – Eaton had its price target lowered by analysts at Evercore ISI from $357.00 to $333.00. They now have an “outperform” rating on the stock.
• 8/2/2024 – Eaton had its price target lowered by analysts at Royal Bank of Canada from $376.00 to $371.00. They now have an “outperform” rating on the stock.
• 8/2/2024 – Eaton had its price target lowered by analysts at Wells Fargo & Company from $320.00 to $315.00. They now have an “equal weight” rating on the stock.
• 8/2/2024 – Eaton had its price target raised by analysts at Barclays PLC from $318.00 to $319.00. They now have an “equal weight” rating on the stock.

Eaton Price Performance

Eaton stock traded down $0.41 during midday trading on Tuesday, reaching $329.38. The company’s stock had a trading volume of 732,991 shares, compared to its average volume of 2,173,887. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The firm has a market capitalization of $131.69 billion, a PE ratio of 38.89, a P/E/G ratio of 2.28 and a beta of 1.01. The stock’s 50 day simple moving average is $299.99 and its 200 day simple moving average is $312.91.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. On average, equities research analysts forecast that Eaton Co. plc will post 10.74 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a dividend of $0.94 per share. The ex-dividend date was Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.14%. Eaton’s dividend payout ratio is currently 44.39%.

Insider Activity at Eaton

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

Institutional Trading of Eaton

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Eaton by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 36,595,656 shares of the industrial products company’s stock valued at $8,812,966,000 after acquiring an additional 259,615 shares during the period. Coatue Management LLC raised its position in Eaton by 5.2% during the fourth quarter. Coatue Management LLC now owns 3,986,445 shares of the industrial products company’s stock valued at $960,016,000 after buying an additional 195,809 shares during the period. Legal & General Group Plc lifted its stake in Eaton by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock worth $1,005,317,000 after acquiring an additional 18,077 shares in the last quarter. Capital World Investors increased its holdings in shares of Eaton by 323.8% in the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after purchasing an additional 2,439,270 shares during the period. Finally, TD Asset Management Inc lifted its position in shares of Eaton by 19.9% in the fourth quarter. TD Asset Management Inc now owns 2,029,795 shares of the industrial products company’s stock worth $488,815,000 after purchasing an additional 337,351 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

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.