Eaton (NYSE:ETN) Price Target Raised to $354.00

Eaton (NYSE:ETN) had its target price raised by Barclays from $350.00 to $354.00 in a report published on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

A number of other equities research analysts have also recently commented on ETN. Wolfe Research upgraded shares of Eaton from a “peer perform” rating to an “outperform” rating and set a $413.00 price target on the stock in a report on Tuesday, December 9th. JPMorgan Chase & Co. lowered their price objective on Eaton from $440.00 to $406.00 and set an “overweight” rating on the stock in a research report on Friday, January 16th. Citigroup cut their target price on Eaton from $442.00 to $435.00 and set a “buy” rating on the stock in a research note on Monday, January 12th. UBS Group reissued a “neutral” rating and issued a $360.00 target price (down from $440.00) on shares of Eaton in a report on Sunday, January 4th. Finally, HSBC raised Eaton from a “hold” rating to a “buy” rating and set a $400.00 price target on the stock in a report on Friday, January 16th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Eaton has an average rating of “Moderate Buy” and a consensus target price of $395.11.

Eaton Price Performance

ETN opened at $360.16 on Monday. The firm has a market cap of $139.74 billion, a PE ratio of 34.43, a P/E/G ratio of 2.51 and a beta of 1.17. The stock has a 50-day moving average price of $357.88 and a 200-day moving average price of $355.51. Eaton has a 1 year low of $231.85 and a 1 year high of $408.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.32 and a quick ratio of 0.81.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, February 26th. The industrial products company reported $3.23 earnings per share for the quarter. Eaton had a net margin of 14.89% and a return on equity of 25.00%. Sell-side analysts predict that Eaton will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Tuesday, March 10th will be given a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $1.04. This represents a $4.40 annualized dividend and a yield of 1.2%. Eaton’s payout ratio is 42.07%.

Insider Activity

In other news, insider Sternadt Paulo Ruiz sold 10,707 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $390.26, for a total value of $4,178,513.82. Following the transaction, the insider owned 27,729 shares in the company, valued at $10,821,519.54. This represents a 27.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Eaton

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ETN. Hilton Head Capital Partners LLC bought a new position in Eaton in the fourth quarter worth approximately $26,000. Sfam LLC bought a new stake in shares of Eaton during the 4th quarter valued at $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Eaton in the 4th quarter worth $28,000. Eagle Bay Advisors LLC purchased a new stake in shares of Eaton in the 4th quarter worth $29,000. Finally, WFA of San Diego LLC bought a new position in Eaton in the 2nd quarter worth $36,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Company Profile

Eaton (NYSE: ETN) is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company’s offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.