Analysts Set Eaton Co. plc (NYSE:ETN) Target Price at $350.22

Eaton Co. plc (NYSE:ETN) has earned a consensus rating of “Moderate Buy” from the nineteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $350.22.

Several equities analysts recently weighed in on ETN shares. Evercore ISI reduced their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company reduced their target price on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a report on Tuesday, January 28th. Barclays reduced their target price on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a report on Friday, April 4th. Finally, Jefferies Financial Group reduced their target price on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th.

Institutional Investors Weigh In On Eaton

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Eaton by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company’s stock worth $12,351,506,000 after purchasing an additional 99,291 shares during the last quarter. FMR LLC grew its position in shares of Eaton by 1.2% during the 4th quarter. FMR LLC now owns 15,222,248 shares of the industrial products company’s stock valued at $5,051,807,000 after buying an additional 182,455 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Eaton by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company’s stock valued at $2,714,677,000 after buying an additional 129,071 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of Eaton by 4.3% during the 4th quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company’s stock valued at $1,550,226,000 after buying an additional 192,482 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Eaton by 8.8% during the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company’s stock valued at $1,518,207,000 after buying an additional 368,241 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 0.7 %

Shares of ETN opened at $288.91 on Wednesday. The firm has a market cap of $113.19 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company’s fifty day moving average is $281.54 and its two-hundred day moving average is $323.11. Eaton has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period last year, the firm posted $2.55 EPS. Analysts forecast that Eaton will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Monday, May 5th. Eaton’s payout ratio is currently 43.79%.

Eaton Company Profile

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.