Eaton Corporation, PLC (NYSE:ETN) declared a quarterly dividend on Tuesday, July 25th, RTT News reports. Shareholders of record on Friday, August 4th will be paid a dividend of 0.60 per share by the industrial products company on Friday, August 18th. This represents a $2.40 dividend on an annualized basis and a yield of 3.05%.

Eaton Corporation, PLC has increased its dividend payment by an average of 10.7% annually over the last three years and has raised its dividend every year for the last 7 years. Eaton Corporation, PLC has a dividend payout ratio of 51.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Eaton Corporation, PLC to earn $5.13 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 46.8%.

Shares of Eaton Corporation, PLC (ETN) traded up 0.769% on Tuesday, reaching $79.255. The company’s stock had a trading volume of 669,845 shares. The firm has a market capitalization of $35.45 billion, a PE ratio of 18.461 and a beta of 1.35. Eaton Corporation, PLC has a one year low of $59.07 and a one year high of $81.63. The firm has a 50-day moving average price of $77.81 and a 200 day moving average price of $74.42.

Eaton Corporation, PLC (NYSE:ETN) last announced its earnings results on Tuesday, May 2nd. The industrial products company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.09. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.70 billion. Eaton Corporation, PLC had a return on equity of 12.82% and a net margin of 9.86%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. On average, analysts anticipate that Eaton Corporation, PLC will post $4.66 earnings per share for the current fiscal year.

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In related news, insider Uday Yadav sold 3,034 shares of Eaton Corporation, PLC stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $76.08, for a total value of $230,826.72. Following the sale, the insider now directly owns 22,601 shares in the company, valued at approximately $1,719,484.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Richard H. Fearon sold 25,000 shares of Eaton Corporation, PLC stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $76.24, for a total value of $1,906,000.00. Following the completion of the sale, the insider now owns 236,497 shares in the company, valued at $18,030,531.28. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.

Several analysts have issued reports on ETN shares. Credit Suisse Group reaffirmed a “buy” rating on shares of Eaton Corporation, PLC in a research report on Tuesday, March 28th. Citigroup Inc. raised their price objective on Eaton Corporation, PLC from $80.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, April 3rd. Longbow Research raised Eaton Corporation, PLC from a “neutral” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Tuesday, April 4th. Zacks Investment Research raised Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Wednesday, April 19th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $75.00 price objective on shares of Eaton Corporation, PLC in a research report on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $78.54.

About Eaton Corporation, PLC

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.

Dividend History for Eaton Corporation, PLC (NYSE:ETN)

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