Eaton Co. plc to Issue Quarterly Dividend of $1.04 (NYSE:ETN)

Eaton Co. plc (NYSE:ETN - Get Free Report) declared a quarterly dividend on Tuesday, April 22nd, RTT News reports. Investors of record on Monday, May 5th will be given a dividend of 1.04 per share by the industrial products company on Friday, May 23rd. This represents a $4.16 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Monday, May 5th.

Eaton has a payout ratio of 31.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Eaton to earn $13.52 per share next year, which means the company should continue to be able to cover its $3.76 annual dividend with an expected future payout ratio of 27.8%.

Eaton Stock Up 0.7 %

Shares of Eaton stock traded up $1.89 on Friday, reaching $288.91. 2,177,225 shares of the company were exchanged, compared to its average volume of 2,630,169. The stock's 50 day moving average price is $281.54 and its 200-day moving average price is $323.21. The company has a market cap of $113.19 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton has a 1-year low of $231.85 and a 1-year high of $379.99. 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 - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the prior year, the firm posted $2.55 earnings per share. As a group, equities analysts forecast that Eaton will post 12.02 EPS for the current year.

Analyst Upgrades and Downgrades

ETN has been the subject of a number of research analyst reports. Melius lowered shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target for the company. in a research note on Tuesday, January 28th. Barclays decreased their price target on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Royal Bank of Canada decreased their price objective on Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Jefferies Financial Group cut their price target on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Finally, Evercore ISI reduced their price objective on Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and an average target price of $350.22.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Eaton stock. Brighton Jones LLC boosted its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 1.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,341 shares of the industrial products company's stock after buying an additional 45 shares during the period. Brighton Jones LLC's holdings in Eaton were worth $1,109,000 at the end of the most recent reporting period. 82.97% of the stock is owned by institutional investors and hedge funds.

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.