Eaton (NYSE:ETN) Stock Price Up 5.7%

Eaton Co. PLC (NYSE:ETN) rose 5.7% during trading on Wednesday . The stock traded as high as $72.41 and last traded at $75.29, approximately 169,312 shares traded hands during mid-day trading. A decline of 97% from the average daily volume of 5,082,484 shares. The stock had previously closed at $71.21.

ETN has been the subject of several recent research reports. Robert W. Baird increased their price objective on Eaton from $101.00 to $104.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Royal Bank of Canada restated a “hold” rating and issued a $89.00 target price on shares of Eaton in a report on Wednesday, December 18th. Argus restated a “positive” rating and issued a $105.00 target price on shares of Eaton in a report on Tuesday, January 21st. Credit Suisse Group upped their target price on Eaton from $100.00 to $108.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Finally, Bank of America upgraded Eaton from a “neutral” rating to a “buy” rating in a report on Tuesday, December 17th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $102.56.

The company has a current ratio of 1.70, a quick ratio of 1.15 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $91.32 and a 200-day simple moving average of $90.20. The company has a market capitalization of $29.30 billion, a PE ratio of 14.88, a PEG ratio of 1.37 and a beta of 1.29.

Eaton (NYSE:ETN) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.03). The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Eaton had a return on equity of 14.75% and a net margin of 10.34%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 earnings per share. On average, equities analysts predict that Eaton Co. PLC will post 5.57 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.73 per share. The ex-dividend date of this dividend is Thursday, March 12th. This is a boost from Eaton’s previous quarterly dividend of $0.71. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.73%. Eaton’s dividend payout ratio is currently 51.50%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sowa Financial Group Inc. purchased a new position in shares of Eaton during the 4th quarter worth $38,000. Macquarie Group Ltd. grew its holdings in shares of Eaton by 1.5% during the 4th quarter. Macquarie Group Ltd. now owns 153,807 shares of the industrial products company’s stock worth $14,569,000 after purchasing an additional 2,271 shares during the period. TFG Advisers LLC purchased a new position in shares of Eaton during the 4th quarter worth $45,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Eaton by 78.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 311,500 shares of the industrial products company’s stock worth $29,570,000 after purchasing an additional 136,900 shares during the period. Finally, Engrave Wealth Partners LLC purchased a new position in shares of Eaton during the 4th quarter worth $98,000. Institutional investors and hedge funds own 80.06% of the company’s stock.

Eaton Company Profile (NYSE:ETN)

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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