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.
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