Analysts Set Eaton Co. plc (NYSE:ETN) Price Target at $369.28

Shares of Eaton Co. plc (NYSE:ETN) have been given an average recommendation of “Moderate Buy” by the seventeen ratings firms that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $368.89.

ETN has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday. Sanford C. Bernstein initiated coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. UBS Group began coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target for the company. Finally, Royal Bank of Canada boosted their price objective on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now owns 506,360 shares of the company’s stock, valued at approximately $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 ninety days, insiders sold 76,981 shares of company stock valued at $27,660,117. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Eaton

A number of large investors have recently modified their holdings of ETN. B. Riley Wealth Advisors Inc. lifted its stake in Eaton by 48.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after purchasing an additional 13,497 shares in the last quarter. Interval Partners LP increased its holdings in shares of Eaton by 82.7% in the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after purchasing an additional 68,693 shares during the period. Scientech Research LLC raised its position in shares of Eaton by 285.5% in the second quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock worth $1,801,000 after buying an additional 4,254 shares in the last quarter. Neville Rodie & Shaw Inc. boosted its stake in Eaton by 6.8% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company’s stock valued at $12,739,000 after buying an additional 2,428 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in Eaton in the 3rd quarter worth about $1,160,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Trading Up 0.6 %

ETN opened at $342.35 on Monday. The stock has a market cap of $135.30 billion, a PE ratio of 36.42, a price-to-earnings-growth ratio of 2.70 and a beta of 1.06. The company has a fifty day moving average of $355.38 and a 200-day moving average of $329.33. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton has a twelve month low of $236.04 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the previous year, the business earned $2.47 EPS. The company’s quarterly revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts predict that Eaton will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

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.