Eaton Corporation, PLC (NYSE:ETN) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Eaton Corporation, PLC (NYSE:ETN - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twenty brokerages that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $369.74.

Several research analysts recently issued reports on ETN shares. Royal Bank Of Canada increased their price target on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. The Goldman Sachs Group raised their price objective on shares of Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a report on Tuesday. Wells Fargo & Company raised their price target on Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. KeyCorp lifted their price target on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, Wall Street Zen raised shares of Eaton from a "hold" rating to a "buy" rating in a research report on Saturday.

Eaton Stock Performance

ETN stock traded up $2.98 during mid-day trading on Monday, reaching $359.96. 48,374 shares of the stock traded hands, compared to its average volume of 2,657,363. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. Eaton has a 52 week low of $231.85 and a 52 week high of $379.99. The business has a 50-day moving average of $329.10 and a two-hundred day moving average of $313.08. The firm has a market capitalization of $140.85 billion, a PE ratio of 36.25, a P/E/G ratio of 2.70 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The company had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the prior year, the company earned $2.40 earnings per share. The business's quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts predict that Eaton will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio is currently 41.98%.

Insider Activity at Eaton

In related news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider directly owned 490,208 shares of the company's stock, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the transaction, the insider owned 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock worth $49,622,894 over the last ninety days. 0.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in shares of Eaton by 0.7% during the 1st quarter. GAMMA Investing LLC now owns 13,219 shares of the industrial products company's stock valued at $3,593,000 after acquiring an additional 96 shares during the period. Bearing Point Capital LLC acquired a new position in shares of Eaton during the 4th quarter valued at $2,713,000. Brighton Jones LLC lifted its position in shares of Eaton by 4.9% during the 1st quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company's stock valued at $953,000 after acquiring an additional 164 shares during the period. Kennebec Savings Bank increased its stake in Eaton by 5.4% during the 1st quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company's stock valued at $738,000 after purchasing an additional 139 shares in the last quarter. Finally, American National Bank & Trust raised its holdings in Eaton by 5.4% during the first quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock worth $855,000 after buying an additional 162 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

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.