Eaton Co. PLC (NYSE:ETN) Given Consensus Rating of “Hold” by Brokerages

Eaton Co. PLC (NYSE:ETN) has been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $88.55.

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price target on Eaton from $88.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Barclays reissued a “sell” rating and issued a $76.00 price target on shares of Eaton in a research note on Thursday, June 6th. Royal Bank of Canada set a $84.00 price target on Eaton and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank set a $96.00 price target on Eaton and gave the company a “buy” rating in a research note on Wednesday, July 31st.

In related news, insider Richard H. Fearon sold 80,592 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $82.75, for a total transaction of $6,668,988.00. Following the completion of the sale, the insider now owns 270,097 shares of the company’s stock, valued at $22,350,526.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ETN. Vanguard Group Inc. grew its stake in Eaton by 1.4% in the second quarter. Vanguard Group Inc. now owns 33,329,894 shares of the industrial products company’s stock valued at $2,775,713,000 after acquiring an additional 458,692 shares during the period. BlackRock Inc. grew its stake in Eaton by 1.1% in the second quarter. BlackRock Inc. now owns 30,504,507 shares of the industrial products company’s stock valued at $2,540,415,000 after acquiring an additional 341,830 shares during the period. Boston Partners grew its stake in Eaton by 40.9% in the first quarter. Boston Partners now owns 10,269,144 shares of the industrial products company’s stock valued at $827,282,000 after acquiring an additional 2,978,615 shares during the period. Northern Trust Corp grew its stake in Eaton by 0.4% in the second quarter. Northern Trust Corp now owns 6,090,154 shares of the industrial products company’s stock valued at $507,188,000 after acquiring an additional 25,664 shares during the period. Finally, Invesco Ltd. grew its stake in Eaton by 28.1% in the second quarter. Invesco Ltd. now owns 5,815,463 shares of the industrial products company’s stock valued at $484,312,000 after acquiring an additional 1,276,325 shares during the period. 77.20% of the stock is owned by institutional investors and hedge funds.

Shares of ETN stock traded down $1.78 on Friday, hitting $76.59. The company had a trading volume of 3,884,795 shares, compared to its average volume of 2,576,972. The firm has a market cap of $32.92 billion, a P/E ratio of 14.21, a P/E/G ratio of 1.52 and a beta of 1.44. The stock’s 50-day moving average is $79.76 and its two-hundred day moving average is $80.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.18 and a current ratio of 1.83. Eaton has a twelve month low of $64.46 and a twelve month high of $89.46.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The company had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $5.63 billion. Eaton had a return on equity of 14.88% and a net margin of 10.16%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.39 earnings per share. Equities research analysts predict that Eaton will post 5.87 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were paid a dividend of $0.71 per share. The ex-dividend date was Thursday, August 1st. This represents a $2.84 annualized dividend and a yield of 3.71%. Eaton’s dividend payout ratio is currently 52.69%.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Analyst Recommendations for Eaton (NYSE:ETN)

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