Eaton (NYSE:ETN) announced a quarterly dividend on Wednesday, February 27th. Shareholders of record on Monday, March 11th will be paid a dividend of $0.42 per share on Friday, March 22nd. This represents a $1.68 annualized dividend and a dividend yield of 2.82%.
A number of analysts have recently weighed in on ETN shares. Analysts at Credit Suisse initiated coverage on shares of Eaton in a research note to investors on Monday. They set an “outperform” rating and a $72.00 price target on the stock. On a related note, analysts at Oppenheimer raised their price target on shares of Eaton from $63.00 to $69.00 in a research note to investors on Tuesday, February 19th. They now have an “outperform” rating on the stock. Finally, analysts at Barclays Capital reiterated an “overweight” rating on shares of Eaton in a research note to investors on Wednesday, February 13th. They now have a $68.00 price target on the stock, up previously from $66.00.
Thirteen analysts have rated the stock with a buy rating, one has given an overweight rating, and seven have issued a hold rating to the company. Eaton currently has an average rating of “overweight” and a consensus price target of $65.78.
Shares of Eaton (ETN) opened at 59.40 on Wednesday. Eaton (ETN) has a one year low of $36.38 and a one year high of $61.71. The stock’s 50-day moving average is currently $58.0. The company has a market cap of $22.649 billion and a P/E ratio of 17.21.
Eaton last released its earnings data on Tuesday, February 5th. The company reported $0.82 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.93 by $0.11. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter last year, the company posted $1.08 earnings per share. Eaton’s revenue was up 7.4% compared to the same quarter last year. Eaton has set its Q1 guidance at $0.76-0.86 EPS and its FY13 guidance at $4.05-4.45 EPS. On average, analysts predict that Eaton (ETN) will post $4.38 earnings per share for the current fiscal year.
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.
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