Brokerages Set Eaton Corp. PLC (ETN) Price Target at $63.37
Eaton Corp. PLC (NYSE:ETN) has been assigned a consensus recommendation of “Hold” from the twenty-two ratings firms that are covering the stock. Two investment analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $63.37.
A number of research analysts have commented on ETN shares. Deutsche Bank AG reiterated a “hold” rating and issued a $65.00 price objective on shares of Eaton Corp. PLC in a research report on Thursday, August 25th. HSBC assumed coverage on Eaton Corp. PLC in a research report on Friday, October 7th. They issued a “buy” rating and a $74.00 price target on the stock. RBC Capital Markets reduced their price target on Eaton Corp. PLC from $68.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 2nd. Argus upgraded Eaton Corp. PLC from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, August 10th. They noted that the move was a valuation call. Finally, Jefferies Group restated a “hold” rating on shares of Eaton Corp. PLC in a research report on Friday, August 5th.
In related news, Director Charles E. Golden sold 14,626 shares of Eaton Corp. PLC stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $67.96, for a total transaction of $993,982.96. Following the completion of the transaction, the director now owns 15,964 shares in the company, valued at $1,084,913.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard H. Fearon sold 20,000 shares of Eaton Corp. PLC stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $68.11, for a total value of $1,362,200.00. Following the transaction, the insider now owns 254,856 shares of the company’s stock, valued at approximately $17,358,242.16. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Woodmont Investment Counsel LLC acquired a new position in Eaton Corp. PLC during the third quarter worth approximately $108,000. Physicians Financial Services Inc. boosted its position in Eaton Corp. PLC by 111.7% in the second quarter. Physicians Financial Services Inc. now owns 1,706 shares of the company’s stock worth $102,000 after buying an additional 900 shares during the last quarter. Penserra Capital Management LLC boosted its position in Eaton Corp. PLC by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,800 shares of the company’s stock worth $118,000 after buying an additional 900 shares during the last quarter. Kistler Tiffany Companies LLC boosted its position in Eaton Corp. PLC by 2.8% in the second quarter. Kistler Tiffany Companies LLC now owns 1,809 shares of the company’s stock worth $108,000 after buying an additional 49 shares during the last quarter. Finally, Ropes Wealth Advisors LLC boosted its position in Eaton Corp. PLC by 1.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,863 shares of the company’s stock worth $111,000 after buying an additional 22 shares during the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.
Eaton Corp. PLC (NYSE:ETN) opened at 65.54 on Monday. Eaton Corp. PLC has a 52 week low of $46.19 and a 52 week high of $68.95. The firm has a 50-day moving average price of $63.97 and a 200-day moving average price of $63.38. The stock has a market cap of $29.60 billion, a P/E ratio of 15.49 and a beta of 1.36.
Eaton Corp. PLC (NYSE:ETN) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $1.15 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.15. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $5.05 billion. Eaton Corp. PLC had a return on equity of 12.73% and a net margin of 9.78%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the company earned $0.96 EPS. On average, equities research analysts predict that Eaton Corp. PLC will post $4.20 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Investors of record on Monday, November 7th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Thursday, November 3rd. Eaton Corp. PLC’s payout ratio is currently 53.65%.
Eaton Corp. PLC Company Profile
Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.
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