Eaton Corporation, PLC (ETN) To Go Ex-Dividend on November 6th

Eaton Corporation, PLC (NYSE:ETN) declared a quarterly dividend on Tuesday, October 21st. Stockholders of record on Thursday, November 6th will be paid a dividend of 1.04 per share by the industrial products company on Friday, November 21st. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, November 6th.

Eaton has increased its dividend by an average of 0.1%annually over the last three years. Eaton has a payout ratio of 34.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Eaton to earn $13.52 per share next year, which means the company should continue to be able to cover its $4.16 annual dividend with an expected future payout ratio of 30.8%.

Eaton Stock Performance

ETN opened at $387.21 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.76 and a current ratio of 1.24. The business’s 50-day simple moving average is $368.29 and its 200 day simple moving average is $349.00. The firm has a market capitalization of $150.74 billion, a PE ratio of 38.95, a PEG ratio of 2.77 and a beta of 1.18. Eaton has a 52-week low of $231.85 and a 52-week high of $399.56.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.03. The firm had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $6.93 billion. Eaton had a return on equity of 23.91% and a net margin of 15.11%.The business’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company earned $2.73 earnings per share. As a group, sell-side analysts expect that Eaton will post 12.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of analyst reports. Citigroup raised their price target on Eaton from $438.00 to $442.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Redburn Atlantic initiated coverage on shares of Eaton in a research note on Wednesday, August 20th. They issued a “hold” rating and a $336.00 target price for the company. Raymond James Financial raised their target price on shares of Eaton from $380.00 to $415.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Wells Fargo & Company raised their target price on shares of Eaton from $375.00 to $395.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Finally, The Goldman Sachs Group raised their target price on shares of Eaton from $345.00 to $382.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $398.45.

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.