JPMorgan Chase & Co. Increases Eaton (NYSE:ETN) Price Target to $325.00

Eaton (NYSE:ETN - Free Report) had its price target boosted by JPMorgan Chase & Co. from $279.00 to $325.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the industrial products company's stock.

A number of other equities research analysts have also recently commented on the company. Mizuho reaffirmed a buy rating and set a $355.00 price objective (up from $340.00) on shares of Eaton in a research note on Wednesday. Citigroup lifted their price objective on Eaton from $270.00 to $310.00 and gave the stock a buy rating in a research note on Friday, February 2nd. UBS Group lifted their price objective on Eaton from $255.00 to $305.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Evercore ISI lifted their price objective on Eaton from $262.00 to $308.00 and gave the stock an outperform rating in a research note on Tuesday, February 20th. Finally, Bank of America lifted their price objective on Eaton from $320.00 to $330.00 and gave the stock a buy rating in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $302.93.

Eaton Trading Down 2.0 %

Shares of ETN stock traded down $6.23 on Wednesday, reaching $312.03. 3,416,668 shares of the stock were exchanged, compared to its average volume of 2,028,208. The stock has a market cap of $124.66 billion, a PE ratio of 38.91, a P/E/G ratio of 2.71 and a beta of 1.07. Eaton has a one year low of $165.24 and a one year high of $333.05. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. The stock has a 50 day moving average price of $307.35 and a 200 day moving average price of $260.80.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, topping analysts' consensus estimates of $2.28 by $0.12. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.88 earnings per share. Equities research analysts forecast that Eaton will post 10.28 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.21%. Eaton's dividend payout ratio is currently 46.88%.

Insider Transactions at Eaton

In other news, insider Olivier Leonetti sold 4,461 shares of the company's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the transaction, the insider now directly owns 630 shares of the company's stock, valued at $171,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Olivier Leonetti sold 4,461 shares of the company's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the transaction, the insider now directly owns 630 shares of the company's stock, valued at $171,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Peter Denk sold 1,731 shares of the company's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the transaction, the insider now directly owns 5,514 shares of the company's stock, valued at $1,593,380.58. The disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock valued at $10,904,774 over the last three months. Company insiders own 0.53% of the company's stock.

Institutional Trading of Eaton

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Verdence Capital Advisors LLC raised its holdings in Eaton by 1.7% during the first quarter. Verdence Capital Advisors LLC now owns 2,059 shares of the industrial products company's stock worth $644,000 after acquiring an additional 34 shares in the last quarter. Wendell David Associates Inc. raised its holdings in Eaton by 4.0% during the first quarter. Wendell David Associates Inc. now owns 936 shares of the industrial products company's stock worth $293,000 after acquiring an additional 36 shares in the last quarter. Fragasso Group Inc. raised its holdings in Eaton by 3.6% during the first quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company's stock worth $323,000 after acquiring an additional 36 shares in the last quarter. Valley National Advisers Inc. raised its stake in Eaton by 5.6% in the first quarter. Valley National Advisers Inc. now owns 682 shares of the industrial products company's stock valued at $213,000 after buying an additional 36 shares during the period. Finally, FinTrust Capital Advisors LLC raised its stake in Eaton by 2.6% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,481 shares of the industrial products company's stock valued at $357,000 after buying an additional 37 shares during the period. Institutional investors own 82.97% of the company's stock.

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.