Eaton Corporation, PLC (NYSE:ETN) announced a quarterly dividend on Tuesday, July 25th, RTT News reports. Shareholders 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 yield of 3.37%. The ex-dividend date of this dividend is Wednesday, August 2nd.
Eaton Corporation, PLC has increased its dividend by an average of 10.7% per year 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 research 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%.
Eaton Corporation, PLC (NYSE ETN) opened at 71.20 on Friday. The company has a market cap of $31.67 billion, a price-to-earnings ratio of 16.32 and a beta of 1.35. The stock has a 50 day moving average price of $76.76 and a 200 day moving average price of $75.08. Eaton Corporation, PLC has a 12 month low of $59.07 and a 12 month high of $81.63.
Eaton Corporation, PLC (NYSE:ETN) last issued its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $1.15 earnings per share (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 analyst estimates of $5.14 billion. Eaton Corporation, PLC had a return on equity of 12.93% and a net margin of 9.95%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 earnings per share. Analysts anticipate that Eaton Corporation, PLC will post $4.61 earnings per share for the current fiscal year.
Several research firms recently issued reports on ETN. JMP Securities initiated coverage on Eaton Corporation, PLC in a research report on Monday, June 19th. They issued a “market perform” rating on the stock. Zacks Investment Research lowered shares of Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. ValuEngine raised shares of Eaton Corporation, PLC from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. J P Morgan Chase & Co lowered shares of Eaton Corporation, PLC from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $73.00 to $70.00 in a research note on Thursday. Finally, Barclays PLC set a $81.00 target price on shares of Eaton Corporation, PLC and gave the stock a “hold” rating in a research note on Tuesday, May 2nd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. Eaton Corporation, PLC has an average rating of “Hold” and an average price target of $78.54.
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About Eaton Corporation, PLC
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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