Eaton (NYSE:ETN) Stock Price Up 1.3% – What’s Next?

Eaton Co. plc (NYSE:ETN)’s stock price rose 1.3% during mid-day trading on Friday . The company traded as high as $378.45 and last traded at $376.97. Approximately 259,896 shares traded hands during trading, a decline of 88% from the average daily volume of 2,099,606 shares. The stock had previously closed at $371.98.

Wall Street Analyst Weigh In

ETN has been the subject of several research reports. Sanford C. Bernstein started coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $374.00 target price on shares of Eaton in a research report on Friday, November 1st. UBS Group started coverage on Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Morgan Stanley assumed coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Finally, Citigroup assumed coverage on shares of Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target on the stock. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $357.83.

Eaton Price Performance

The stock’s fifty day moving average is $347.47 and its 200-day moving average is $324.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The stock has a market capitalization of $148.57 billion, a PE ratio of 40.10, a P/E/G ratio of 2.82 and a beta of 1.01.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the previous year, the company posted $2.47 EPS. Eaton’s revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.00%. Eaton’s dividend payout ratio is 40.00%.

Insiders Place Their Bets

In other news, Director Dorothy C. Thompson bought 2,205 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,981 shares of company stock valued at $24,100,317 over the last three months. 0.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eaton

Several hedge funds and other institutional investors have recently modified their holdings of ETN. LRI Investments LLC bought a new stake in Eaton during the 1st quarter worth about $66,000. Cetera Investment Advisers raised its stake in shares of Eaton by 684.9% during the 1st quarter. Cetera Investment Advisers now owns 156,299 shares of the industrial products company’s stock worth $48,872,000 after purchasing an additional 136,387 shares in the last quarter. Cetera Advisors LLC grew its holdings in Eaton by 11.1% during the first quarter. Cetera Advisors LLC now owns 51,794 shares of the industrial products company’s stock worth $16,195,000 after purchasing an additional 5,171 shares during the period. Soltis Investment Advisors LLC raised its holdings in Eaton by 6.6% in the 1st quarter. Soltis Investment Advisors LLC now owns 1,941 shares of the industrial products company’s stock valued at $607,000 after acquiring an additional 121 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Eaton by 14.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,230 shares of the industrial products company’s stock worth $392,000 after buying an additional 158 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

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.