Investment Analysts’ Weekly Ratings Updates for Eaton (ETN)

A number of firms have modified their ratings and price targets on shares of Eaton (NYSE: ETN) recently:

• 11/13/2024 – Eaton was downgraded by analysts at Evercore ISI from an “outperform” rating to an “inline” rating. They now have a $389.00 price target on the stock, up previously from $333.00.
• 11/13/2024 – Eaton had its price target raised by analysts at Bank of America Co. from $350.00 to $410.00. They now have a “buy” rating on the stock.
• 11/13/2024 – Eaton is now covered by analysts at UBS Group AG. They set a “buy” rating and a $431.00 price target on the stock.
• 11/5/2024 – Eaton is now covered by analysts at Sanford C. Bernstein. They set an “outperform” rating and a $382.00 price target on the stock.
• 11/1/2024 – Eaton had its price target raised by analysts at Mizuho from $365.00 to $385.00. They now have an “outperform” rating on the stock.
• 11/1/2024 – Eaton had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $374.00 price target on the stock.
• 11/1/2024 – Eaton had its price target lowered by analysts at Barclays PLC from $327.00 to $320.00. They now have an “equal weight” rating on the stock.
• 10/17/2024 – Eaton had its price target raised by analysts at Mizuho from $355.00 to $365.00. They now have an “outperform” rating on the stock.
• 10/7/2024 – Eaton had its price target raised by analysts at Wells Fargo & Company from $315.00 to $342.00. They now have an “equal weight” rating on the stock.
• 10/2/2024 – Eaton had its price target raised by analysts at Barclays PLC from $319.00 to $327.00. They now have an “equal weight” rating on the stock.

Eaton Price Performance

NYSE ETN traded up $0.37 on Monday, reaching $377.78. The company’s stock had a trading volume of 266,457 shares, compared to its average volume of 2,097,738. The firm has a market cap of $149.30 billion, a PE ratio of 40.19, a price-to-earnings-growth ratio of 2.99 and a beta of 1.01. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 52 week low of $224.52 and a 52 week high of $379.12. The business has a 50-day moving average price of $342.75 and a 200 day moving average price of $322.91.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the prior year, the firm earned $2.47 earnings per share. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Sell-side analysts expect that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Insiders Place Their Bets

In related news, insider Michael Yelton sold 3,136 shares of the 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 transaction, the insider now directly owns 3,914 shares in the company, valued at $1,186,411.68. This represents a 44.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dorothy C. Thompson bought 2,205 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 68,705 shares of company stock valued at $24,516,346. 0.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eaton

Several hedge funds have recently bought and sold shares of the company. IAM Advisory LLC bought a new position in shares of Eaton during the 2nd quarter valued at about $599,000. Interval Partners LP lifted its stake in Eaton by 82.7% in the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock valued at $47,571,000 after buying an additional 68,693 shares in the last quarter. Scientech Research LLC boosted its holdings in shares of Eaton by 285.5% in the second quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after buying an additional 4,254 shares during the period. B. Riley Wealth Advisors Inc. increased its position in shares of Eaton by 25.9% during the second quarter. B. Riley Wealth Advisors Inc. now owns 27,609 shares of the industrial products company’s stock worth $8,657,000 after acquiring an additional 5,676 shares in the last quarter. Finally, Leavell Investment Management Inc. raised its holdings in shares of Eaton by 67.6% during the second quarter. Leavell Investment Management Inc. now owns 8,556 shares of the industrial products company’s stock worth $2,683,000 after acquiring an additional 3,452 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.