Posted by admin on May 14th, 2022
Shares of Eaton Co. plc (NYSE:ETN – Get Rating) have been given a consensus rating of “Buy” by the eighteen brokerages that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $173.47.
Several equities analysts have recently weighed in on the stock. Robert W. Baird raised their price objective on shares of Eaton from $150.00 to $155.00 in a research report on Tuesday, May 3rd. Wolfe Research reduced their price objective on shares of Eaton from $196.00 to $194.00 and set an “outperform” rating for the company in a research report on Monday, February 7th. Barclays reduced their price objective on shares of Eaton from $155.00 to $145.00 in a research report on Wednesday, May 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Eaton from $176.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, April 14th. Finally, Wells Fargo & Company increased their price target on shares of Eaton from $149.00 to $159.00 in a research report on Wednesday, May 4th.
In other news, insider Joao V. Faria sold 11,852 shares of the company’s stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $150.00, for a total transaction of $1,777,800.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.56% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Joseph Group Capital Management bought a new stake in Eaton in the 4th quarter valued at $1,403,000. Financial Management Professionals Inc. grew its holdings in Eaton by 288.6% in the 1st quarter. Financial Management Professionals Inc. now owns 171 shares of the industrial products company’s stock valued at $26,000 after buying an additional 127 shares in the last quarter. Arlington Partners LLC acquired a new position in Eaton in the 4th quarter valued at $31,000. Bell Investment Advisors Inc acquired a new position in Eaton in the 3rd quarter valued at $27,000. Finally, Hazlett Burt & Watson Inc. acquired a new position in Eaton in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 79.10% of the company’s stock.
Shares of ETN opened at $141.33 on Friday. The firm has a 50-day moving average price of $147.99 and a 200 day moving average price of $158.41. The firm has a market capitalization of $56.39 billion, a PE ratio of 25.56, a P/E/G ratio of 1.71 and a beta of 1.15. The company has a quick ratio of 0.59, a current ratio of 0.99 and a debt-to-equity ratio of 0.41. Eaton has a 52-week low of $138.69 and a 52-week high of $175.72.
Eaton (NYSE:ETN – Get Rating) last announced its earnings results on Tuesday, May 3rd. The industrial products company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.02. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.78 billion. Eaton had a net margin of 11.21% and a return on equity of 16.92%. Eaton’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.44 EPS. On average, equities analysts expect that Eaton will post 7.52 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Friday, May 13th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.29%. The ex-dividend date is Thursday, May 12th. Eaton’s payout ratio is 58.59%.
Eaton Company Profile (Get Rating)
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.
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