Barclays Cuts Eaton (NYSE:ETN) Price Target to $325.00

Eaton (NYSE:ETN) had its target price trimmed by Barclays from $353.00 to $325.00 in a research report released on Monday,Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

Other research analysts have also issued reports about the company. UBS Group initiated coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Jefferies Financial Group upped their target price on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Melius Research reiterated a “hold” rating and set a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Citigroup decreased their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Bank of America increased their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average price target of $363.15.

Eaton Trading Up 3.1 %

Shares of ETN stock opened at $287.85 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a market capitalization of $112.84 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The stock has a fifty day moving average of $323.38 and a two-hundred day moving average of $332.18. Eaton has a 1 year low of $255.65 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the business earned $2.55 earnings per share. As a group, research analysts expect that Eaton will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.45%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Insider Transactions at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the sale, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.53% of the stock is owned by corporate insiders.

Institutional Trading of Eaton

Several hedge funds and other institutional investors have recently modified their holdings of the company. Chicago Partners Investment Group LLC increased its position in Eaton by 100.9% during the third quarter. Chicago Partners Investment Group LLC now owns 3,078 shares of the industrial products company’s stock worth $1,062,000 after buying an additional 1,546 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Eaton by 9.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 251,983 shares of the industrial products company’s stock valued at $83,517,000 after purchasing an additional 22,637 shares during the period. Kanawha Capital Management LLC acquired a new stake in Eaton in the third quarter valued at $207,000. Vestor Capital LLC bought a new stake in Eaton during the third quarter valued at $4,118,000. Finally, Wetzel Investment Advisors Inc. boosted its position in shares of Eaton by 1.5% during the 3rd quarter. Wetzel Investment Advisors Inc. now owns 3,073 shares of the industrial products company’s stock worth $1,019,000 after purchasing an additional 44 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.