Eaton (NYSE:ETN) Price Target Lowered to $320.00 at Barclays

Eaton (NYSE:ETN - Free Report) had its target price cut by Barclays from $327.00 to $320.00 in a research note published on Friday morning, Benzinga reports. They currently have an equal weight rating on the industrial products company's stock.

Several other brokerages have also issued reports on ETN. Raymond James decreased their target price on Eaton from $375.00 to $365.00 and set an "outperform" rating for the company in a research report on Monday, September 9th. Citigroup began coverage on shares of Eaton in a research report on Monday, September 16th. They issued a "buy" rating and a $348.00 price objective on the stock. Morgan Stanley started coverage on shares of Eaton in a research report on Friday, September 6th. They set an "overweight" rating and a $370.00 target price for the company. Mizuho upped their price objective on Eaton from $355.00 to $365.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Finally, Jefferies Financial Group raised their target price on Eaton from $370.00 to $385.00 and gave the stock a "buy" rating in a research report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $341.00.

Eaton Stock Up 1.3 %

Shares of NYSE ETN traded up $4.16 during mid-day trading on Friday, reaching $335.74. 1,720,042 shares of the company's stock traded hands, compared to its average volume of 2,103,899. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. Eaton has a 1-year low of $211.99 and a 1-year high of $349.74. The stock has a market cap of $133.66 billion, a P/E ratio of 36.72, a PEG ratio of 2.62 and a beta of 1.02. The business has a 50-day simple moving average of $322.39 and a 200 day simple moving average of $318.15.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The business had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.37 billion. During the same period last year, the business earned $2.47 EPS. The business's revenue was up 7.9% on a year-over-year basis. On average, analysts expect that Eaton will post 10.75 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.12%. Eaton's dividend payout ratio (DPR) is presently 41.36%.

Insider Buying and Selling

In related news, insider Michael Yelton sold 3,136 shares of the firm's stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now directly owns 3,914 shares of the company's stock, valued at $1,186,411.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Eaton news, insider Michael Yelton sold 3,136 shares of the firm's stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the sale, the insider now owns 3,914 shares in the company, valued at $1,186,411.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the company's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares of the company's stock, valued at $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock worth $15,809,326 over the last ninety days. 0.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Eaton

A number of hedge funds have recently made changes to their positions in the business. Breakwater Investment Management increased its stake in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company's stock worth $26,000 after purchasing an additional 78 shares during the period. Proffitt & Goodson Inc. purchased a new position in shares of Eaton in the second quarter worth $29,000. LGT Financial Advisors LLC purchased a new stake in Eaton during the 2nd quarter valued at $33,000. West Financial Advisors LLC bought a new stake in Eaton in the 3rd quarter worth $35,000. Finally, DiNuzzo Private Wealth Inc. purchased a new position in shares of Eaton in the second quarter valued at about $37,000. 82.97% of the stock is currently owned by 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.