Eaton Co. plc (NYSE:ETN) Given Consensus Rating of "Buy" by Analysts
Posted by Lisa Durand on Jan 14th, 2022
Eaton Co. plc (NYSE:ETN) has been given an average rating of "Buy" by the nineteen brokerages that are presently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $174.47.
Several research analysts recently commented on ETN shares. Royal Bank of Canada boosted their price target on Eaton from $152.00 to $153.00 and gave the stock a "sector perform" rating in a research note on Wednesday, November 3rd. Citigroup increased their target price on Eaton from $180.00 to $185.00 and gave the company a "buy" rating in a research note on Tuesday, October 12th. Oppenheimer lifted their price target on shares of Eaton from $175.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, November 4th. Berenberg Bank reiterated a "buy" rating on shares of Eaton in a research note on Wednesday, October 27th. Finally, Morgan Stanley boosted their target price on shares of Eaton from $190.00 to $195.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 15th.
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Shares of ETN traded down $0.24 during mid-day trading on Friday, reaching $170.94. 149,843 shares of the stock traded hands, compared to its average volume of 1,425,345. The stock has a fifty day simple moving average of $169.58 and a 200 day simple moving average of $162.89. Eaton has a 12-month low of $114.01 and a 12-month high of $175.72. The company has a quick ratio of 0.79, a current ratio of 1.27 and a debt-to-equity ratio of 0.53. The firm has a market cap of $68.14 billion, a price-to-earnings ratio of 33.24, a P/E/G ratio of 2.11 and a beta of 1.19.
Eaton (NYSE:ETN) last released its quarterly earnings results on Monday, November 1st. The industrial products company reported $1.75 earnings per share for the quarter, beating the Zacks' consensus estimate of $1.73 by $0.02. Eaton had a net margin of 10.60% and a return on equity of 16.14%. The business had revenue of $4.92 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period last year, the business earned $1.18 EPS. On average, equities research analysts expect that Eaton will post 6.63 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 30th. Stockholders of record on Friday, November 12th were given a $0.76 dividend. The ex-dividend date of this dividend was Wednesday, November 10th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.78%. Eaton's payout ratio is currently 59.03%.
In related news, insider Joao V. Faria sold 2,662 shares of the stock in a transaction dated Friday, December 10th. The shares were sold at an average price of $170.12, for a total value of $452,859.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Uday Yadav sold 49,580 shares of the stock in a transaction dated Tuesday, November 9th. The stock was sold at an average price of $174.32, for a total transaction of $8,642,785.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 183,051 shares of company stock worth $31,507,939. Insiders own 0.53% of the company's stock.
A number of institutional investors have recently added to or reduced their stakes in ETN. Bell Investment Advisors Inc acquired a new position in Eaton during the 3rd quarter valued at about $27,000. Eagle Bay Advisors LLC increased its stake in Eaton by 137.3% during the 3rd quarter. Eagle Bay Advisors LLC now owns 242 shares of the industrial products company's stock valued at $36,000 after buying an additional 140 shares during the period. Rosenberg Matthew Hamilton increased its stake in Eaton by 52.1% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 251 shares of the industrial products company's stock valued at $37,000 after buying an additional 86 shares during the period. Tompkins Financial Corp acquired a new position in Eaton during the 3rd quarter valued at about $37,000. Finally, American National Bank acquired a new position in Eaton during the 3rd quarter valued at about $39,000. 77.54% of the stock is currently owned by hedge funds and other institutional investors.
About Eaton
Eaton Corp. Plc is a power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: Electrical Americas and Electrical Global, Hydraulics, Aerospace, Vehicle, and eMobility. The Electrical Americas and Electrical Global segment engages in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service.
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