Brokerages Set Eaton Co. (ETN) Target Price at $86.73

Shares of Eaton Co. (NYSE:ETN) have received an average rating of “Hold” from the twenty analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $86.73.

A number of equities analysts have recently weighed in on the company. UBS assumed coverage on Eaton in a research report on Tuesday, January 23rd. They set a “neutral” rating and a $87.00 target price on the stock. Zacks Investment Research lowered Eaton from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Goldman Sachs raised Eaton from a “neutral” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Tuesday. Bank of America raised Eaton from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $81.03 to $85.00 in a research report on Thursday, March 8th. Finally, JPMorgan Chase raised Eaton from an “underweight” rating to a “neutral” rating and set a $82.00 target price on the stock in a research report on Thursday, March 1st.

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In related news, insider William J. Vanlandingham II sold 10,174 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $45.77, for a total value of $465,663.98. Following the completion of the sale, the insider now directly owns 13,963 shares of the company’s stock, valued at approximately $639,086.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ken D. Semelsberger sold 15,595 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $82.67, for a total value of $1,289,238.65. Following the completion of the sale, the insider now directly owns 104,613 shares of the company’s stock, valued at $8,648,356.71. The disclosure for this sale can be found here. Insiders sold a total of 29,769 shares of company stock valued at $2,083,823 over the last three months. 0.50% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Baird Financial Group Inc. increased its position in shares of Eaton by 0.5% during the 4th quarter. Baird Financial Group Inc. now owns 135,991 shares of the industrial products company’s stock valued at $10,745,000 after purchasing an additional 630 shares during the last quarter. Financial Counselors Inc. increased its position in shares of Eaton by 2.0% during the 3rd quarter. Financial Counselors Inc. now owns 33,149 shares of the industrial products company’s stock valued at $2,546,000 after purchasing an additional 655 shares during the last quarter. HPM Partners LLC increased its position in shares of Eaton by 2.9% during the 4th quarter. HPM Partners LLC now owns 23,379 shares of the industrial products company’s stock valued at $1,847,000 after purchasing an additional 662 shares during the last quarter. Twin Tree Management LP increased its position in shares of Eaton by 23.9% during the 4th quarter. Twin Tree Management LP now owns 3,548 shares of the industrial products company’s stock valued at $280,000 after purchasing an additional 684 shares during the last quarter. Finally, Sentry Investment Management LLC increased its position in shares of Eaton by 2.1% during the 4th quarter. Sentry Investment Management LLC now owns 34,722 shares of the industrial products company’s stock valued at $2,743,000 after purchasing an additional 701 shares during the last quarter. 78.90% of the stock is owned by hedge funds and other institutional investors.

Shares of Eaton stock traded down $0.42 on Wednesday, reaching $77.17. 2,279,930 shares of the company’s stock were exchanged, compared to its average volume of 2,956,177. The stock has a market capitalization of $33,424.39, a price-to-earnings ratio of 16.60, a PEG ratio of 1.49 and a beta of 1.36. Eaton has a 52 week low of $69.82 and a 52 week high of $89.85. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.13 and a current ratio of 1.64.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. Eaton had a return on equity of 12.84% and a net margin of 14.60%. The firm had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the prior year, the business earned $1.12 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. equities research analysts forecast that Eaton will post 5.17 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Monday, March 12th were given a $0.66 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.60. This represents a $2.64 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Friday, March 9th. Eaton’s dividend payout ratio is presently 56.77%.

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About Eaton

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

Analyst Recommendations for Eaton (NYSE:ETN)

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