Mizuho Boosts Eaton (NYSE:ETN) Price Target to $365.00

Eaton (NYSE:ETN) had its price target upped by Mizuho from $355.00 to $365.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

ETN has been the topic of a number of other research reports. Evercore ISI cut their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Jefferies Financial Group upped their price objective on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Wells Fargo & Company lifted their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Barclays upped their price target on Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Raymond James decreased their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $340.06.

Eaton Stock Performance

Eaton stock opened at $348.18 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. Eaton has a 12 month low of $191.82 and a 12 month high of $349.74. The company has a market cap of $139.20 billion, a price-to-earnings ratio of 41.11, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. The stock’s 50-day moving average is $314.01 and its 200-day moving average is $316.68.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Equities analysts anticipate that Eaton will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio is presently 44.39%.

Insider Transactions at Eaton

In related news, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Yelton sold 3,136 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,511 shares of company stock valued at $15,809,326 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Eaton

Large investors have recently made changes to their positions in the business. Norden Group LLC acquired a new position in Eaton in the 1st quarter valued at approximately $2,176,000. Griffin Asset Management Inc. purchased a new stake in shares of Eaton during the first quarter worth $813,000. IAM Advisory LLC acquired a new stake in Eaton during the second quarter valued at $599,000. Envestnet Portfolio Solutions Inc. grew its stake in Eaton by 19.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock valued at $24,616,000 after purchasing an additional 12,689 shares in the last quarter. Finally, Interval Partners LP increased its position in Eaton by 82.7% in the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after purchasing an additional 68,693 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.