Shares of Eaton Co. (NYSE:ETN) have earned a consensus recommendation of “Hold” from the twenty-one ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $86.77.

Several equities analysts recently issued reports on the company. Citigroup dropped their price target on Eaton from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, May 2nd. Stifel Nicolaus dropped their target price on Eaton from $88.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, May 3rd. Barclays cut Eaton from an “equal weight” rating to an “underweight” rating in a research report on Monday, May 7th. Evercore ISI upgraded Eaton from an “in-line” rating to an “outperform” rating in a research report on Monday, May 7th. Finally, Jefferies Group reiterated a “hold” rating and set a $90.00 target price on shares of Eaton in a research report on Friday, February 2nd.

In related news, insider William J. Vanlandingham II sold 10,174 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $45.77, for a total value of $465,663.98. Following the sale, the insider now owns 13,963 shares in the company, valued at approximately $639,086.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Deborah L. Mccoy sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $82.23, for a total value of $328,920.00. Following the completion of the sale, the director now owns 35,936 shares in the company, valued at approximately $2,955,017.28. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ETN. Denali Advisors LLC lifted its stake in Eaton by 109.6% in the 4th quarter. Denali Advisors LLC now owns 199,978 shares of the industrial products company’s stock valued at $15,800,000 after buying an additional 104,569 shares in the last quarter. Hays Advisory LLC lifted its stake in Eaton by 21.2% in the 4th quarter. Hays Advisory LLC now owns 5,089 shares of the industrial products company’s stock valued at $402,000 after buying an additional 889 shares in the last quarter. Miller Howard Investments Inc. NY lifted its stake in Eaton by 41.1% in the 4th quarter. Miller Howard Investments Inc. NY now owns 1,077,532 shares of the industrial products company’s stock valued at $85,136,000 after buying an additional 313,924 shares in the last quarter. Exane Derivatives lifted its stake in Eaton by 1,022,900.0% in the 4th quarter. Exane Derivatives now owns 10,230 shares of the industrial products company’s stock valued at $808,000 after buying an additional 10,229 shares in the last quarter. Finally, NewSquare Capital LLC purchased a new stake in Eaton in the 4th quarter valued at approximately $1,178,000. 78.26% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Eaton opened at $78.27 on Thursday, MarketBeat reports. The stock has a market capitalization of $34.23 billion, a P/E ratio of 16.83, a P/E/G ratio of 1.52 and a beta of 1.37. Eaton has a 52-week low of $69.82 and a 52-week high of $89.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.00 and a current ratio of 1.51.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Tuesday, May 1st. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.03. The firm had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.11 billion. Eaton had a return on equity of 12.77% and a net margin of 14.59%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 EPS. equities research analysts forecast that Eaton will post 5.21 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 18th. Investors of record on Friday, May 4th were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Thursday, May 3rd. Eaton’s dividend payout ratio is currently 56.77%.

About Eaton

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.

Analyst Recommendations for Eaton (NYSE:ETN)

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