Eaton Co. plc to Issue Quarterly Dividend of $0.94 (NYSE:ETN)

Eaton Co. plc (NYSE:ETN) announced a quarterly dividend on Tuesday, October 22nd, RTT News reports. Investors of record on Monday, November 4th will be paid a dividend of 0.94 per share by the industrial products company on Friday, November 22nd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, November 4th.

Eaton has a dividend payout ratio of 31.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Eaton to earn $12.12 per share next year, which means the company should continue to be able to cover its $3.76 annual dividend with an expected future payout ratio of 31.0%.

Eaton Stock Up 1.0 %

ETN stock opened at $335.00 on Friday. The firm’s 50-day moving average is $323.09 and its two-hundred day moving average is $318.31. The company has a current ratio of 1.53, a quick ratio of 1.07 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $133.36 billion, a price-to-earnings ratio of 35.64, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. Eaton has a 52 week low of $211.99 and a 52 week high of $349.74.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the firm posted $2.47 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts forecast that Eaton will post 10.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ETN has been the topic of several research reports. Evercore ISI dropped their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Morgan Stanley assumed coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Mizuho raised their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday. Citigroup assumed coverage on Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target on the stock. Finally, Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Four investment 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.com, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $341.00.

Insiders Place Their Bets

In related news, Director Dorothy C. Thompson purchased 2,205 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Dorothy C. Thompson acquired 2,205 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the acquisition, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares of the company’s stock, valued at $1,186,411.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock worth $15,809,326 in the last quarter. 0.53% of the stock is currently owned by corporate insiders.

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.