Posted by admin on May 19th, 2022

Eaton (NYSE: ETN) has recently received a number of price target changes and ratings updates:

ETN opened at $136.52 on Thursday. The business has a 50 day moving average price of $147.50 and a 200 day moving average price of $157.92. Eaton Co. plc has a twelve month low of $135.96 and a twelve month high of $175.72. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.59 and a current ratio of 0.99. The firm has a market cap of $54.47 billion, a P/E ratio of 24.69, a price-to-earnings-growth ratio of 1.71 and a beta of 1.15.

Eaton (NYSE:ETN – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. Eaton had a return on equity of 16.92% and a net margin of 11.21%. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the company earned $1.44 earnings per share. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, analysts anticipate that Eaton Co. plc will post 7.52 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 13th will be issued a dividend of $0.81 per share. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.37%. Eaton’s dividend payout ratio (DPR) is presently 58.59%.

In other news, insider Joao V. Faria sold 11,852 shares of the company’s stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $150.00, for a total transaction of $1,777,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Eaton by 1.5% in the first quarter. Vanguard Group Inc. now owns 34,526,905 shares of the industrial products company’s stock valued at $5,239,803,000 after purchasing an additional 500,438 shares in the last quarter. BlackRock Inc. raised its stake in shares of Eaton by 5.5% in the first quarter. BlackRock Inc. now owns 27,959,368 shares of the industrial products company’s stock valued at $4,243,113,000 after purchasing an additional 1,449,671 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Eaton by 3.5% in the first quarter. JPMorgan Chase & Co. now owns 26,578,334 shares of the industrial products company’s stock valued at $4,033,527,000 after purchasing an additional 900,550 shares in the last quarter. State Street Corp raised its stake in shares of Eaton by 0.7% in the fourth quarter. State Street Corp now owns 16,615,642 shares of the industrial products company’s stock valued at $2,871,515,000 after purchasing an additional 115,947 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Eaton in the fourth quarter valued at $1,235,314,000. Institutional investors and hedge funds own 79.10% of the company’s stock.

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.

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