Eaton (NYSE:ETN) Stock Price Up 0.7% - Should You Buy?

Eaton Co. plc (NYSE:ETN - Get Free Report)'s stock price rose 0.7% during trading on Friday . The company traded as high as $375.31 and last traded at $373.69. Approximately 358,879 shares were traded during trading, a decline of 83% from the average daily volume of 2,096,781 shares. The stock had previously closed at $370.95.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of research reports. Mizuho upped their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Wells Fargo & Company increased their price objective on Eaton from $315.00 to $342.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Citigroup started coverage on Eaton in a research report on Monday, September 16th. They set a "buy" rating and a $348.00 target price for the company. Sanford C. Bernstein started coverage on Eaton in a report on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 price target on the stock. Finally, Evercore ISI cut Eaton from an "outperform" rating to an "inline" rating and boosted their price objective for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $357.83.

Eaton Trading Up 1.4 %

The business has a 50 day simple moving average of $341.32 and a 200-day simple moving average of $322.65. The stock has a market capitalization of $148.65 billion, a price-to-earnings ratio of 39.75, a PEG ratio of 2.89 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.80 by $0.04. The business 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%. Eaton's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.47 EPS. As a group, equities analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Monday, November 4th. Eaton's dividend payout ratio is 40.00%.

Insider Transactions at Eaton

In related news, Director Dorothy C. Thompson purchased 2,205 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now directly owns 2,205 shares in the company, valued at $662,161.50. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 3,136 shares of the company's stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. This represents a 44.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,705 shares of company stock valued at $24,516,346 over the last three months. Company insiders own 0.53% of the company's stock.

Institutional Trading of Eaton

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MQS Management LLC acquired a new stake in Eaton during the 1st quarter valued at $207,000. Axxcess Wealth Management LLC boosted its stake in Eaton by 95.1% in the 1st quarter. Axxcess Wealth Management LLC now owns 6,353 shares of the industrial products company's stock valued at $1,986,000 after purchasing an additional 3,097 shares during the period. Capital International Inc. CA acquired a new position in Eaton in the 1st quarter valued at $2,009,000. Canada Pension Plan Investment Board increased its position in Eaton by 163.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 263,409 shares of the industrial products company's stock worth $82,363,000 after buying an additional 163,394 shares during the period. Finally, Gamco Investors INC. ET AL increased its position in Eaton by 4.2% during the 1st quarter. Gamco Investors INC. ET AL now owns 16,833 shares of the industrial products company's stock worth $5,263,000 after buying an additional 677 shares during the period. 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.

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