Eaton (NYSE:ETN) Price Target Raised to $385.00 at Mizuho

Eaton (NYSE:ETN) had its target price upped by Mizuho from $365.00 to $385.00 in a research report report published on Friday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

A number of other brokerages have also recently weighed in on ETN. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Raymond James cut their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Wells Fargo & Company upped their price target on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Royal Bank of Canada restated an “outperform” rating and set a $374.00 price target on shares of Eaton in a research note on Friday. Finally, Citigroup began coverage on Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price target for the company. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $341.00.

Eaton Stock Up 1.0 %

ETN stock traded up $3.42 during trading on Friday, hitting $335.00. 2,369,253 shares of the company’s stock were exchanged, compared to its average volume of 2,106,960. The business has a 50-day moving average price of $323.09 and a two-hundred day moving average price of $318.29. The stock has a market capitalization of $133.36 billion, a price-to-earnings ratio of 36.85, a PEG ratio of 2.62 and a beta of 1.02. Eaton has a 52-week low of $211.99 and a 52-week high of $349.74. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the business earned $2.47 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities research analysts expect that Eaton will post 10.75 EPS for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a 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 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 transaction, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Karenann K. Terrell acquired 500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were bought at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the acquisition, the director now directly owns 500 shares in the company, valued at $149,485. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $950,584.32. Following the completion of the transaction, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eaton

A number of large investors have recently modified their holdings of ETN. Breakwater Investment Management grew its stake in shares of Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after buying an additional 78 shares in the last quarter. Proffitt & Goodson Inc. acquired a new stake in Eaton during the 2nd quarter valued at approximately $29,000. LGT Financial Advisors LLC acquired a new stake in Eaton during the 2nd quarter valued at approximately $33,000. West Financial Advisors LLC acquired a new stake in Eaton during the 3rd quarter valued at approximately $35,000. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in Eaton during the 2nd quarter valued at approximately $37,000. 82.97% of the stock is currently owned by hedge funds and other 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.