Eaton Co. plc (NYSE:ETN) Announces Quarterly Dividend of $1.04

Eaton Co. plc (NYSE:ETN - Get Free Report) announced a quarterly dividend on Tuesday, April 22nd, RTT News reports. Investors of record on Monday, May 5th will be given a dividend of 1.04 per share by the industrial products company on Friday, May 23rd. This represents a $4.16 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Monday, May 5th.

Eaton has a payout ratio of 31.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Eaton to earn $13.52 per share next year, which means the company should continue to be able to cover its $3.76 annual dividend with an expected future payout ratio of 27.8%.

Eaton Stock Performance

Shares of Eaton stock traded up $0.18 on Friday, reaching $287.20. 331,407 shares of the company traded hands, compared to its average volume of 2,621,180. Eaton has a 52 week low of $231.85 and a 52 week high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a 50 day moving average of $282.03 and a 200 day moving average of $323.63. The firm has a market capitalization of $112.51 billion, a PE ratio of 30.29, a PEG ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the previous year, the firm posted $2.55 EPS. Equities analysts forecast that Eaton will post 12.02 earnings per share for the current year.

Hedge Funds Weigh In On Eaton

An institutional investor recently raised its position in Eaton stock. Revolve Wealth Partners LLC grew its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 17.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 913 shares of the industrial products company's stock after acquiring an additional 136 shares during the quarter. Revolve Wealth Partners LLC's holdings in Eaton were worth $303,000 at the end of the most recent quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ETN. Citigroup dropped their price target on shares of Eaton from $396.00 to $323.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. cut their price target on Eaton from $350.00 to $289.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Jefferies Financial Group decreased their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Evercore ISI cut their target price on Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. Finally, StockNews.com cut Eaton from a "buy" rating to a "hold" rating in a research report on Tuesday. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Eaton has an average rating of "Moderate Buy" and a consensus price target of $350.22.

Eaton Company Profile

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.