Eaton (NYSE:ETN) Trading Up 0.2% on Analyst Upgrade

Eaton Co. plc (NYSE:ETN - Get Free Report) shares were up 0.2% on Wednesday after Barclays raised their price target on the stock from $319.00 to $327.00. Barclays currently has an equal weight rating on the stock. Eaton traded as high as $329.31 and last traded at $328.26. Approximately 238,310 shares traded hands during trading, a decline of 89% from the average daily volume of 2,166,223 shares. The stock had previously closed at $327.58.

A number of other research analysts have also commented on the company. Wells Fargo & Company lowered their price objective on Eaton from $320.00 to $315.00 and set an "equal weight" rating on the stock in a report on Friday, August 2nd. Wolfe Research raised Eaton from an "underperform" rating to a "peer perform" rating in a report on Friday, September 6th. Raymond James lowered their price objective on Eaton from $375.00 to $365.00 and set an "outperform" rating on the stock in a report on Monday, September 9th. Evercore ISI lowered their price objective on Eaton from $357.00 to $333.00 and set an "outperform" rating on the stock in a report on Monday, August 19th. Finally, Royal Bank of Canada lowered their price objective on Eaton from $376.00 to $371.00 and set an "outperform" rating on the stock in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $337.88.

Read Our Latest Research Report on Eaton

Insider Buying and Selling at Eaton

In other news, Director Dorothy C. Thompson acquired 2,205 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now owns 2,205 shares of the company's stock, valued at $662,161.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Dorothy C. Thompson acquired 2,205 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now owns 2,205 shares of the company's stock, valued at $662,161.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock valued at $15,809,326 in the last 90 days. 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. Vanguard Group Inc. raised its position in Eaton by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 36,595,656 shares of the industrial products company's stock valued at $8,812,966,000 after purchasing an additional 259,615 shares during the last quarter. Coatue Management LLC raised its position in Eaton by 5.2% in the 4th quarter. Coatue Management LLC now owns 3,986,445 shares of the industrial products company's stock valued at $960,016,000 after purchasing an additional 195,809 shares during the last quarter. Legal & General Group Plc raised its position in Eaton by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company's stock valued at $1,005,317,000 after purchasing an additional 18,077 shares during the last quarter. Capital World Investors raised its position in Eaton by 323.8% in the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company's stock valued at $998,255,000 after purchasing an additional 2,439,270 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in Eaton by 15.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company's stock valued at $412,108,000 after purchasing an additional 176,571 shares during the last quarter. Institutional investors own 82.97% of the company's stock. 

Eaton Trading Up 0.1 %

The company has a 50-day simple moving average of $301.93 and a 200-day simple moving average of $314.34. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The stock has a market cap of $131.13 billion, a P/E ratio of 38.72, a P/E/G ratio of 2.53 and a beta of 1.01. 

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. On average, sell-side analysts forecast that Eaton Co. plc will post 10.75 EPS for the current fiscal year. 

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a dividend of $0.94 per share. The ex-dividend date was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.15%. Eaton's payout ratio is currently 44.39%. 

About Eaton

(Get Free Report)

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.

Buy Adem Naturals ProvaDent

Your Path to Optimal Dental Healthhttps://07129f3zjkk8ryyb5n88rc1ean.hop.clickbank.net