Eaton (NYSE:ETN) Stock Price Up 0.6% - Still a Buy?

Eaton Co. plc (NYSE:ETN - Get Free Report)'s stock price rose 0.6% on Wednesday . The company traded as high as $349.28 and last traded at $349.15. Approximately 328,600 shares were traded during trading, a decline of 84% from the average daily volume of 2,074,561 shares. The stock had previously closed at $347.08.

Analysts Set New Price Targets

Several analysts have recently weighed in on ETN shares. Bank of America lifted their price objective on shares of Eaton from $350.00 to $410.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. UBS Group began coverage on Eaton in a research report on Wednesday, November 13th. They issued a "buy" rating and a $431.00 price target for the company. Barclays upped their target price on 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 restated an "outperform" rating and set a $374.00 price target on shares of Eaton in a research note on Friday, November 1st. Finally, Evercore ISI downgraded shares of Eaton from an "outperform" rating to an "inline" rating and lifted their target price for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Eaton currently has a consensus rating of "Moderate Buy" and a consensus target price of $367.83.

Eaton Trading Down 3.4 %

The company has a market capitalization of $132.44 billion, a P/E ratio of 35.65, a PEG ratio of 2.74 and a beta of 1.03. The stock has a fifty day moving average of $356.43 and a 200 day moving average of $326.83. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter last year, the business posted $2.47 earnings per share. The firm's revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts anticipate that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Monday, November 4th. Eaton's dividend payout ratio (DPR) is presently 40.00%.

Insiders Place Their Bets

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares of the company's stock, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction dated 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 transaction, the director now owns 51,422 shares in the company, valued at approximately $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. Insiders sold 76,981 shares of company stock valued at $27,660,117 in the last three months. Corporate insiders own 0.33% of the company's stock.

Hedge Funds Weigh In On Eaton

Several institutional investors and hedge funds have recently bought and sold shares of the company. Breakwater Investment Management increased its position in shares of Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 78 shares during the period. Proffitt & Goodson Inc. purchased a new position in shares of Eaton in the second quarter worth about $29,000. Groupama Asset Managment lifted its holdings in shares of Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock worth $31,000 after purchasing an additional 4,298 shares during the period. LGT Financial Advisors LLC purchased a new stake in Eaton in the second quarter valued at approximately $33,000. Finally, Morse Asset Management Inc acquired a new position in Eaton in the 3rd quarter worth approximately $33,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

About Eaton

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.