Eaton Co. plc (NYSE:ETN) Receives $357.83 Consensus Target Price from Analysts

Eaton Co. plc (NYSE:ETN) has received a consensus rating of “Moderate Buy” from the seventeen ratings firms that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $357.83.

ETN has been the topic of a number of research reports. Morgan Stanley started coverage on Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Bank of America lifted their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $374.00 price target on shares of Eaton in a research note on Friday, November 1st. Raymond James cut their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Finally, Mizuho raised their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st.

Insider Activity

In other news, insider Michael Yelton sold 3,136 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. This represents a 44.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,117 shares of company stock worth $25,050,901. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Eaton by 253.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after acquiring an additional 1,629,856 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Eaton by 27,075.5% in the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after acquiring an additional 1,070,024 shares during the period. Swedbank AB bought a new stake in Eaton in the second quarter valued at approximately $225,974,000. Assenagon Asset Management S.A. increased its position in Eaton by 1,604.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock valued at $211,201,000 after purchasing an additional 634,059 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after purchasing an additional 597,700 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock opened at $377.23 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton has a 52 week low of $224.52 and a 52 week high of $379.99. The company’s 50 day moving average price is $345.46 and its two-hundred day moving average price is $323.55. The company has a market capitalization of $149.08 billion, a P/E ratio of 40.13, a price-to-earnings-growth ratio of 2.99 and a beta of 1.01.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.47 earnings per share. On average, analysts expect that Eaton will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

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

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.