Eaton (NYSE:ETN) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Eaton (NYSE:ETN - Free Report) from a hold rating to a buy rating in a research note released on Monday morning.

A number of other equities research analysts also recently commented on the company. KeyCorp decreased their target price on Eaton from $340.00 to $325.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Melius Research reissued a "hold" rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Jefferies Financial Group lowered their price objective on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Citigroup reduced their target price on shares of Eaton from $396.00 to $323.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Wells Fargo & Company reduced their price objective on Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 5th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Eaton has a consensus rating of "Moderate Buy" and a consensus target price of $350.22.

Eaton Stock Performance

Shares of Eaton stock traded down $1.01 on Monday, hitting $268.15. 2,539,573 shares of the company's stock were exchanged, compared to its average volume of 2,631,204. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market capitalization of $105.05 billion, a PE ratio of 28.23, a PEG ratio of 2.64 and a beta of 1.09. Eaton has a 1 year low of $231.85 and a 1 year high of $379.99. The company has a 50-day simple moving average of $284.95 and a 200-day simple moving average of $325.22.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (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 prior year, the firm posted $2.55 earnings per share. As a group, equities analysts anticipate that Eaton will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a $1.04 dividend. This is a boost from Eaton's previous quarterly dividend of $0.94. The ex-dividend date was Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.55%. Eaton's dividend payout ratio (DPR) is presently 43.79%.

Institutional Investors Weigh In On Eaton

Large investors have recently modified their holdings of the business. Capital A Wealth Management LLC purchased a new position in Eaton during the fourth quarter valued at approximately $26,000. Flagship Wealth Advisors LLC purchased a new stake in Eaton during the fourth quarter worth $27,000. Noble Wealth Management PBC purchased a new position in Eaton in the fourth quarter valued at $30,000. Horizon Bancorp Inc. IN raised its position in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock worth $32,000 after acquiring an additional 74 shares during the period. Finally, Morse Asset Management Inc purchased a new position in shares of Eaton in the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

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.