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

Shares of Eaton Co. plc (NYSE:ETN) have earned a consensus rating of “Moderate Buy” from the seventeen research firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $357.83.

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $374.00 target price on shares of Eaton in a research note on Friday, November 1st. Wells Fargo & Company upped their price objective on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and boosted their price target for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Sanford C. Bernstein started coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Finally, UBS Group assumed coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company.

Eaton Price Performance

Shares of Eaton stock opened at $377.41 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $342.75 and a 200-day simple moving average of $322.97. The stock has a market capitalization of $149.15 billion, a price-to-earnings ratio of 40.15, a PEG ratio of 2.94 and a beta of 1.01. Eaton has a 1-year low of $224.52 and a 1-year high of $378.00.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $2.47 EPS. On average, sell-side analysts expect that Eaton will post 10.79 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Insider Transactions at Eaton

In other Eaton news, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost 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 of the company’s stock, valued at $662,161.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. This trade represents a 44.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,705 shares of company stock worth $24,516,346 in the last ninety days. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Eaton

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Eaton by 1.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 576,657 shares of the industrial products company’s stock worth $180,310,000 after buying an additional 8,153 shares in the last quarter. Morse Asset Management Inc bought a new position in shares of Eaton in the first quarter worth about $270,000. Ascent Group LLC acquired a new stake in shares of Eaton in the 1st quarter valued at approximately $231,000. Waverly Advisors LLC grew its holdings in shares of Eaton by 7.1% during the 1st quarter. Waverly Advisors LLC now owns 7,323 shares of the industrial products company’s stock valued at $2,290,000 after purchasing an additional 483 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new stake in shares of Eaton during the 1st quarter valued at approximately $600,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.