Eaton (ETN) Earns Hold Rating from Stifel Nicolaus
A number of other equities analysts also recently commented on the company. Citigroup increased their price objective on Eaton from $90.00 to $92.00 and gave the stock a buy rating in a report on Thursday, November 2nd. Credit Suisse Group restated an outperform rating and issued a $92.00 price objective (up previously from $86.00) on shares of Eaton in a report on Wednesday, November 1st. ValuEngine upgraded Eaton from a hold rating to a buy rating in a report on Friday, September 15th. Buckingham Research initiated coverage on Eaton in a report on Tuesday, October 17th. They issued a neutral rating and a $82.00 price objective on the stock. Finally, J P Morgan Chase & Co cut Eaton from a neutral rating to an underweight rating and decreased their target price for the stock from $73.00 to $70.00 in a research report on Thursday, August 17th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. Eaton currently has a consensus rating of Hold and a consensus target price of $82.69.
Eaton (NYSE ETN) remained flat at $$77.57 during trading hours on Monday. The company had a trading volume of 72,526 shares, compared to its average volume of 2,326,537. Eaton has a 12-month low of $66.60 and a 12-month high of $82.34. The stock has a market cap of $34,180.00, a price-to-earnings ratio of 17.35, a P/E/G ratio of 2.00 and a beta of 1.38. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.43 and a quick ratio of 1.02.
Eaton (NYSE:ETN) last released its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.25 EPS for the quarter, hitting analysts’ consensus estimates of $1.25. Eaton had a return on equity of 12.89% and a net margin of 14.21%. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. analysts expect that Eaton will post 4.6 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Friday, November 3rd were given a dividend of $0.60 per share. The ex-dividend date was Thursday, November 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 3.09%. Eaton’s payout ratio is currently 55.05%.
In other news, Director Christopher M. Connor sold 6,450 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $78.04, for a total value of $503,358.00. Following the completion of the sale, the director now directly owns 20,100 shares of the company’s stock, valued at $1,568,604. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nandakumar Cheruvatath sold 10,000 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $77.50, for a total value of $775,000.00. Following the completion of the sale, the insider now directly owns 16,571 shares of the company’s stock, valued at $1,284,252.50. The disclosure for this sale can be found here. Insiders have sold 58,938 shares of company stock valued at $4,597,529 in the last ninety days. Company insiders own 0.80% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Fieldpoint Private Securities LLC bought a new stake in shares of Eaton in the third quarter valued at approximately $130,000. Argent Capital Management LLC boosted its position in shares of Eaton by 15.0% in the third quarter. Argent Capital Management LLC now owns 257,804 shares of the industrial products company’s stock valued at $19,797,000 after acquiring an additional 33,566 shares during the period. Apriem Advisors boosted its position in shares of Eaton by 4.8% in the third quarter. Apriem Advisors now owns 97,349 shares of the industrial products company’s stock valued at $7,475,000 after acquiring an additional 4,476 shares during the period. ARGI Investment Services LLC boosted its position in shares of Eaton by 7.8% in the third quarter. ARGI Investment Services LLC now owns 26,362 shares of the industrial products company’s stock valued at $2,024,000 after acquiring an additional 1,905 shares during the period. Finally, Financial Counselors Inc. lifted its position in Eaton by 2.0% in the third quarter. Financial Counselors Inc. now owns 33,149 shares of the industrial products company’s stock worth $2,546,000 after purchasing an additional 655 shares during the period. 76.65% of the stock is owned by institutional investors.
Eaton Company Profile
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.
Receive News & Ratings for Eaton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton and related companies with Analyst Ratings Network's FREE daily email newsletter.