Eaton Corporation, PLC (ETN) Given Average Rating of “Hold” by Brokerages
Shares of Eaton Corporation, PLC (NYSE:ETN) have been given an average recommendation of “Hold” by the twenty-three research firms that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $82.54.
A number of research analysts have commented on the company. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Eaton Corporation, PLC in a research note on Tuesday, October 31st. Citigroup Inc. upped their price target on Eaton Corporation, PLC from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday. Buckingham Research assumed coverage on Eaton Corporation, PLC in a research note on Tuesday, October 17th. They set a “neutral” rating and a $82.00 price target on the stock. BidaskClub cut Eaton Corporation, PLC from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $78.00 price target on shares of Eaton Corporation, PLC in a research note on Wednesday, July 12th.
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In related news, Director Deborah L. Mccoy sold 6,450 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $73.17, for a total value of $471,946.50. Following the transaction, the director now owns 46,386 shares of the company’s stock, valued at $3,394,063.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.80% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Cable Hill Partners LLC increased its holdings in Eaton Corporation, PLC by 174.8% in the third quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock valued at $105,000 after buying an additional 867 shares during the last quarter. Harfst & Associates Inc. purchased a new position in Eaton Corporation, PLC in the first quarter valued at $109,000. Captrust Financial Advisors purchased a new position in Eaton Corporation, PLC in the second quarter valued at $133,000. Guardian Life Insurance Co. of America increased its holdings in Eaton Corporation, PLC by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,742 shares of the industrial products company’s stock valued at $129,000 after buying an additional 12 shares during the last quarter. Finally, Acrospire Investment Management LLC increased its holdings in Eaton Corporation, PLC by 325.9% in the second quarter. Acrospire Investment Management LLC now owns 2,091 shares of the industrial products company’s stock valued at $163,000 after buying an additional 1,600 shares during the last quarter. 76.03% of the stock is currently owned by hedge funds and other institutional investors.
Eaton Corporation, PLC (NYSE ETN) traded down $1.28 on Friday, reaching $78.10. The company had a trading volume of 4,477,267 shares, compared to its average volume of 2,543,273. The stock has a market capitalization of $34,410.86, a price-to-earnings ratio of 17.43, a PEG ratio of 1.92 and a beta of 1.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.43 and a quick ratio of 0.81.
Eaton Corporation, PLC (NYSE:ETN) last released its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.25 EPS for the quarter, meeting analysts’ consensus estimates of $1.25. Eaton Corporation, PLC had a return on equity of 12.89% and a net margin of 14.21%. The firm had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.12 billion. During the same period in the prior year, the firm posted $1.16 earnings per share. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. equities research analysts expect that Eaton Corporation, PLC will post 4.6 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Friday, November 3rd will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Thursday, November 2nd. Eaton Corporation, PLC’s dividend payout ratio (DPR) is presently 37.68%.
Eaton Corporation, PLC Company Profile
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.
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