Eaton (NYSE:ETN) Reaches New 1-Year High at $333.06

Shares of Eaton Co. plc (NYSE:ETN) reached a new 52-week high on Tuesday . The stock traded as high as $333.06 and last traded at $323.73, with a volume of 878417 shares traded. The stock had previously closed at $326.51.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Berenberg Bank upped their price target on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Evercore ISI upped their target price on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Bank of America raised their price objective on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, Wolfe Research reissued an “underperform” rating and issued a $312.00 target price on shares of Eaton in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average price target of $295.60.

Eaton Trading Down 3.9 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51. The stock has a market capitalization of $125.41 billion, a PE ratio of 40.75, a price-to-earnings-growth ratio of 2.69 and a beta of 1.07. The business’s 50-day moving average is $305.81 and its two-hundred day moving average is $259.67.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. The business had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.06 earnings per share. As a group, equities research analysts anticipate that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be issued a $0.94 dividend. The ex-dividend date is Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.20%. Eaton’s dividend payout ratio is currently 46.88%.

Insider Buying and Selling

In other news, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now directly owns 630 shares of the company’s stock, valued at approximately $171,360. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the sale, the insider now owns 630 shares in the company, valued at approximately $171,360. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the sale, the insider now directly owns 5,514 shares in the company, valued at approximately $1,593,380.58. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock valued at $10,904,774 over the last quarter. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Eaton

Large investors have recently modified their holdings of the business. LifeSteps Financial Inc. acquired a new position in shares of Eaton in the first quarter worth $25,000. Atwood & Palmer Inc. boosted its stake in shares of Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 50 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in shares of Eaton during the fourth quarter worth about $25,000. Redmont Wealth Advisors LLC acquired a new position in shares of Eaton in the first quarter valued at approximately $33,000. Finally, Clear Investment Research LLC purchased a new position in shares of Eaton during the fourth quarter valued at approximately $29,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.