Eaton Corporation, PLC (NYSE:ETN) Announces Quarterly Dividend of $1.10

Eaton Corporation, PLC (NYSE:ETN) announced a quarterly dividend on Tuesday, April 21st. Stockholders of record on Friday, May 8th will be given a dividend of 1.10 per share by the industrial products company on Friday, May 29th. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, May 8th.

Eaton has raised its dividend payment by an average of 0.1%per year over the last three years. Eaton has a payout ratio of 36.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Eaton to earn $15.29 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 28.8%.

Eaton Stock Performance

Eaton stock opened at $410.36 on Wednesday. The stock has a market cap of $159.21 billion, a P/E ratio of 39.23, a price-to-earnings-growth ratio of 2.81 and a beta of 1.17. The firm’s fifty day moving average price is $373.36 and its 200-day moving average price is $357.85. Eaton has a fifty-two week low of $262.41 and a fifty-two week high of $418.38. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 1.32.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, February 26th. The industrial products company reported $3.23 EPS for the quarter. The company had revenue of $7.06 billion for the quarter. Eaton had a net margin of 14.89% and a return on equity of 25.00%. On average, equities research analysts expect that Eaton will post 13.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ETN has been the topic of a number of analyst reports. Barclays decreased their target price on shares of Eaton from $354.00 to $340.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 1st. BMO Capital Markets initiated coverage on shares of Eaton in a research report on Friday, March 27th. They issued an “outperform” rating and a $428.00 target price on the stock. Wells Fargo & Company decreased their target price on shares of Eaton from $370.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Eaton in a research report on Wednesday, January 21st. Finally, Jefferies Financial Group initiated coverage on shares of Eaton in a research report on Monday, March 16th. They issued a “buy” rating and a $430.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $396.50.

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.