Eaton (NYSE:ETN) Price Target Lowered to $376.00 at Royal Bank of Canada

Eaton (NYSE:ETN - Free Report) had its price objective cut by Royal Bank of Canada from $405.00 to $376.00 in a research report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the industrial products company's stock.

ETN has been the topic of a number of other research reports. Jefferies Financial Group raised their target price on shares of Eaton from $400.00 to $440.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Melius Research reissued a "hold" rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Citigroup lowered their target price on Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a report on Monday, January 13th. Melius lowered Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target on the stock. in a research note on Tuesday, January 28th. Finally, Barclays lowered their price objective on Eaton from $353.00 to $325.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $362.58.

Eaton Price Performance

Shares of ETN traded up $7.74 during midday trading on Thursday, hitting $285.29. The company's stock had a trading volume of 4,533,919 shares, compared to its average volume of 3,707,284. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton has a one year low of $255.65 and a one year high of $379.99. The stock has a market capitalization of $111.83 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company's fifty day simple moving average is $321.13 and its two-hundred day simple moving average is $331.71.

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Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate 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 business earned $2.55 earnings per share. As a group, equities analysts expect that Eaton will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.46%. This is an increase from Eaton's previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. Eaton's payout ratio is currently 43.79%.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 10,000 shares of the business's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eaton

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital A Wealth Management LLC bought a new stake in Eaton in the 4th quarter valued at about $26,000. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new position in shares of Eaton during the fourth quarter worth approximately $30,000. Groupama Asset Managment raised its position 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. Finally, Horizon Bancorp Inc. IN lifted its holdings in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock worth $32,000 after purchasing an additional 74 shares in the last quarter. 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.