Eaton Co. plc (NYSE:ETN - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $333.13 and last traded at $331.93, with a volume of 375967 shares. The stock had previously closed at $327.43.
Analyst Ratings Changes
A number of equities analysts recently weighed in on ETN shares. HSBC lifted their price objective on shares of Eaton from $240.00 to $280.00 and gave the company a "hold" rating in a research report on Friday, May 3rd. Mizuho restated a "buy" rating and issued a $355.00 price objective (up previously from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. JPMorgan Chase & Co. increased their target price on Eaton from $279.00 to $325.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 1st. Citigroup lifted their price target on Eaton from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, February 2nd. Finally, Berenberg Bank increased their price objective on Eaton from $200.00 to $345.00 and gave the stock a "buy" rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $314.27.
Read Our Latest Analysis on ETN
Eaton Trading Up 0.9 %
The business has a 50 day moving average of $310.41 and a 200 day moving average of $264.55. The firm has a market cap of $132.09 billion, a price-to-earnings ratio of 38.64, a price-to-earnings-growth ratio of 2.54 and a beta of 1.06. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42.
Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the previous year, the business posted $1.88 earnings per share. The company's revenue was up 8.4% on a year-over-year basis. On average, research analysts forecast that Eaton Co. plc will post 10.45 earnings per share for the current fiscal year.
Eaton Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Friday, May 3rd. Eaton's payout ratio is 44.39%.
Insider Activity
In other Eaton news, insider Peter Denk sold 1,731 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now owns 5,514 shares of the company's stock, valued at $1,593,380.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now owns 5,514 shares in the company, valued at approximately $1,593,380.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of the firm's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the transaction, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The disclosure for this sale can be found here. Insiders sold a total of 19,219 shares of company stock valued at $5,509,667 in the last 90 days. 0.33% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Brown Advisory Inc. raised its position in shares of Eaton by 5.3% during the 3rd quarter. Brown Advisory Inc. now owns 37,399 shares of the industrial products company's stock valued at $7,977,000 after acquiring an additional 1,871 shares in the last quarter. Advisor Partners II LLC grew its position in shares of Eaton by 1.9% during the third quarter. Advisor Partners II LLC now owns 20,594 shares of the industrial products company's stock worth $4,392,000 after acquiring an additional 380 shares during the last quarter. Graypoint LLC boosted its stake in Eaton by 6.1% during the 3rd quarter. Graypoint LLC now owns 5,167 shares of the industrial products company's stock valued at $1,102,000 after purchasing an additional 295 shares during the period. CENTRAL TRUST Co raised its holdings in shares of Eaton by 3.0% during the third quarter. CENTRAL TRUST Co now owns 17,400 shares of the industrial products company's stock valued at $3,711,000 after buying an additional 513 shares during the last quarter. Finally, North Star Asset Management Inc. acquired a new position in shares of Eaton during the third quarter worth approximately $394,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.
About Eaton
(
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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.
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