Eaton Corporation, PLC (NYSE:ETN) had its price objective raised by Citigroup Inc. from $90.00 to $92.00 in a research note published on Thursday morning. The firm currently has a buy rating on the industrial products company’s stock.
A number of other analysts also recently weighed in on the stock. Jefferies Group LLC upped their target price on shares of Eaton Corporation, PLC from $70.00 to $80.00 and gave the stock a hold rating in a research report on Wednesday. Credit Suisse Group reaffirmed an outperform rating and issued a $92.00 target price (up from $86.00) on shares of Eaton Corporation, PLC in a research report on Wednesday. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Eaton Corporation, PLC in a research report on Tuesday, October 31st. Buckingham Research began coverage on shares of Eaton Corporation, PLC in a research report on Tuesday, October 17th. They issued a neutral rating and a $82.00 target price on the stock. Finally, Bank of America Corporation downgraded shares of Eaton Corporation, PLC from a buy rating to an underperform rating in a research report on Tuesday, October 17th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $82.86.
Shares of Eaton Corporation, PLC (NYSE:ETN) traded down $1.28 during midday trading on Thursday, reaching $78.10. 4,477,267 shares of the company’s stock traded hands, compared to its average volume of 2,543,273. The company has a current ratio of 1.43, a quick ratio of 0.81 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $34,410.86, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 1.92 and a beta of 1.39.
Eaton Corporation, PLC (NYSE:ETN) last released its earnings results on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.25. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.12 billion. Eaton Corporation, PLC had a net margin of 14.21% and a return on equity of 12.89%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 EPS. analysts predict that Eaton Corporation, PLC will post 4.6 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Friday, November 3rd will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Thursday, November 2nd. Eaton Corporation, PLC’s payout ratio is 37.68%.
In other Eaton Corporation, PLC news, Director Deborah L. Mccoy sold 6,450 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $73.17, for a total transaction of $471,946.50. Following the sale, the director now owns 46,386 shares in the company, valued at approximately $3,394,063.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.80% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its holdings in Eaton Corporation, PLC by 17.0% during the 1st quarter. Bank of America Corp DE now owns 6,407,605 shares of the industrial products company’s stock valued at $475,123,000 after buying an additional 932,400 shares in the last quarter. Vanguard Group Inc. grew its holdings in Eaton Corporation, PLC by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 30,348,561 shares of the industrial products company’s stock valued at $2,250,347,000 after buying an additional 695,285 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Eaton Corporation, PLC by 8.2% during the 1st quarter. Lazard Asset Management LLC now owns 5,849,259 shares of the industrial products company’s stock valued at $433,722,000 after buying an additional 443,090 shares in the last quarter. Matrix Asset Advisors Inc. NY grew its holdings in Eaton Corporation, PLC by 0.5% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 312,454 shares of the industrial products company’s stock valued at $24,318,000 after buying an additional 1,455 shares in the last quarter. Finally, UBS Group AG grew its holdings in Eaton Corporation, PLC by 1.6% during the 1st quarter. UBS Group AG now owns 1,810,784 shares of the industrial products company’s stock valued at $134,270,000 after buying an additional 28,426 shares in the last quarter. 76.03% of the stock is owned by institutional investors and hedge funds.
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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