Eaton Corporation, PLC (NYSE:ETN) Plans $0.60 Quarterly Dividend

Eaton Corporation, PLC (NYSE:ETN) announced a quarterly dividend on Tuesday, July 25th, RTT News reports. Investors of record on Friday, August 4th will be given a dividend of 0.60 per share by the industrial products company on Friday, August 18th. This represents a $2.40 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Wednesday, August 2nd.

Eaton Corporation, PLC has increased its dividend by an average of 10.7% annually over the last three years and has increased its dividend every year for the last 7 years. Eaton Corporation, PLC has a dividend payout ratio of 52.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Eaton Corporation, PLC to earn $5.08 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 47.2%.

Shares of Eaton Corporation, PLC (ETN) traded down 0.24% on Friday, reaching $71.48. The company’s stock had a trading volume of 1,162,492 shares. The company has a market capitalization of $31.79 billion, a price-to-earnings ratio of 16.39 and a beta of 1.35. Eaton Corporation, PLC has a 1-year low of $59.07 and a 1-year high of $81.63. The stock has a 50-day moving average price of $77.56 and a 200-day moving average price of $75.00.

Eaton Corporation, PLC (NYSE:ETN) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by $0.01. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.14 billion. Eaton Corporation, PLC had a return on equity of 12.93% and a net margin of 9.95%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.07 EPS. On average, equities research analysts forecast that Eaton Corporation, PLC will post $4.61 EPS for the current year.

ETN has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research note on Wednesday, April 19th. Jefferies Group LLC reiterated a “hold” rating and issued a $75.00 target price on shares of Eaton Corporation, PLC in a research note on Tuesday, May 2nd. Barclays PLC set a $81.00 target price on shares of Eaton Corporation, PLC and gave the company a “hold” rating in a research note on Tuesday, May 2nd. Argus reiterated a “buy” rating and issued a $85.00 target price (up previously from $83.00) on shares of Eaton Corporation, PLC in a research note on Tuesday, May 30th. Finally, ValuEngine upgraded shares of Eaton Corporation, PLC from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $78.54.

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Eaton Corporation, PLC Company Profile

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.

Dividend History for Eaton Corporation, PLC (NYSE:ETN)

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