Eaton Corporation, PLC (NYSE:ETN) has received an average recommendation of “Hold” from the twenty-one ratings firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $79.00.

ETN has been the topic of several recent research reports. Stifel Nicolaus reaffirmed a “hold” rating and issued a $80.00 price target on shares of Eaton Corporation, PLC in a research report on Friday, July 7th. Zacks Investment Research raised shares of Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Friday, May 26th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $75.00 price target on shares of Eaton Corporation, PLC in a research report on Thursday, August 24th. BidaskClub cut shares of Eaton Corporation, PLC from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Finally, J P Morgan Chase & Co cut shares of Eaton Corporation, PLC from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $73.00 to $70.00 in a research report on Thursday, August 17th.

In other news, Director Deborah L. Mccoy sold 6,450 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $73.17, for a total transaction of $471,946.50. Following the completion of the sale, the director now owns 46,386 shares in the company, valued at approximately $3,394,063.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.80% of the company’s stock.

Several hedge funds have recently modified their holdings of ETN. BlackRock Inc. increased its stake in shares of Eaton Corporation, PLC by 2,830.8% during the 1st quarter. BlackRock Inc. now owns 29,114,265 shares of the industrial products company’s stock worth $2,158,821,000 after purchasing an additional 28,120,890 shares during the last quarter. Boston Partners increased its stake in shares of Eaton Corporation, PLC by 286.0% during the 1st quarter. Boston Partners now owns 7,227,300 shares of the industrial products company’s stock worth $535,904,000 after purchasing an additional 5,354,998 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Eaton Corporation, PLC by 17.0% during the 1st quarter. Bank of America Corp DE now owns 6,407,605 shares of the industrial products company’s stock worth $475,123,000 after purchasing an additional 932,400 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Eaton Corporation, PLC by 2.4% during the 1st quarter. Wellington Management Group LLP now owns 37,607,505 shares of the industrial products company’s stock worth $2,788,596,000 after purchasing an additional 875,616 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Eaton Corporation, PLC by 9.5% during the 1st quarter. FMR LLC now owns 9,180,438 shares of the industrial products company’s stock worth $680,729,000 after purchasing an additional 794,975 shares during the last quarter. Institutional investors own 75.86% of the company’s stock.

Eaton Corporation, PLC (ETN) traded up 1.71% during mid-day trading on Friday, hitting $76.91. The company had a trading volume of 4,901,320 shares. The company’s 50 day moving average price is $72.83 and its 200-day moving average price is $75.20. The firm has a market capitalization of $34.21 billion, a PE ratio of 17.63 and a beta of 1.36. Eaton Corporation, PLC has a 12-month low of $59.07 and a 12-month high of $81.63.

Eaton Corporation, PLC (NYSE:ETN) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $1.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.01). Eaton Corporation, PLC had a net margin of 9.95% and a return on equity of 12.93%. The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the previous year, the business posted $1.07 EPS. Eaton Corporation, PLC’s revenue was up 1.0% compared to the same quarter last year. On average, analysts forecast that Eaton Corporation, PLC will post $4.61 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Friday, August 4th were paid a dividend of $0.60 per share. The ex-dividend date was Wednesday, August 2nd. This represents a $2.40 annualized dividend and a dividend yield of 3.12%. Eaton Corporation, PLC’s payout ratio is currently 54.79%.

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About Eaton Corporation, PLC

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.

Analyst Recommendations for Eaton Corporation, PLC (NYSE:ETN)

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