Analysts Set Eaton Co. plc (NYSE:ETN) Target Price at $369.28

Eaton Co. plc (NYSE:ETN - Get Free Report) has received an average rating of "Moderate Buy" from the seventeen analysts that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $369.28.

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein began coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 target price on the stock. UBS Group started coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a "buy" rating and a $431.00 target price for the company. Barclays lifted their target price on shares of Eaton from $320.00 to $353.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Royal Bank of Canada upped their price target on Eaton from $374.00 to $392.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Finally, Evercore ISI cut Eaton from an "outperform" rating to an "inline" rating and lifted their price objective for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th.

Eaton Price Performance

ETN stock opened at $341.54 on Monday. The firm has a 50-day moving average of $355.14 and a 200 day moving average of $328.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The company has a market cap of $134.98 billion, a P/E ratio of 36.33, a PEG ratio of 2.70 and a beta of 1.06. Eaton has a 1 year low of $236.04 and a 1 year high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.47 EPS. On average, sell-side analysts forecast that Eaton will post 10.8 EPS for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.10%. Eaton's dividend payout ratio (DPR) is 40.00%.

Insider Buying and Selling

In related news, insider Craig Arnold sold 61,569 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares in the company, valued at $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is owned by insiders.

Hedge Funds Weigh In On Eaton

Institutional investors have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. boosted its position in shares of Eaton by 48.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company's stock worth $13,533,000 after purchasing an additional 13,497 shares during the period. Interval Partners LP boosted its position in shares of Eaton by 82.7% during the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company's stock worth $47,571,000 after acquiring an additional 68,693 shares during the last quarter. Scientech Research LLC grew its stake in Eaton by 285.5% during the second quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company's stock valued at $1,801,000 after acquiring an additional 4,254 shares in the last quarter. Neville Rodie & Shaw Inc. lifted its stake in Eaton by 6.8% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company's stock worth $12,739,000 after purchasing an additional 2,428 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new position in shares of Eaton during the 3rd quarter valued at about $1,160,000. 82.97% of the stock is owned by institutional investors.

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.