Eaton (NYSE:ETN) Coverage Initiated by Analysts at BNP Paribas

BNP Paribas began coverage on shares of Eaton (NYSE:ETN) in a research report released on Thursday,Benzinga reports. The firm issued an outperform rating and a $380.00 target price on the industrial products company’s stock.

ETN has been the subject of a number of other reports. Morgan Stanley reduced their target price on shares of Eaton from $385.00 to $375.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Melius Research reiterated a “hold” rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. KeyCorp boosted their price target on Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research note on Tuesday, January 28th. Finally, Citigroup boosted their price target on Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $363.22.

Eaton Stock Performance

Shares of Eaton stock opened at $327.99 on Thursday. The company has a market capitalization of $128.34 billion, a PE ratio of 34.53, a P/E/G ratio of 2.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The company has a 50-day simple moving average of $286.47 and a two-hundred day simple moving average of $319.82. Eaton has a one year low of $231.85 and a one year high of $379.99.

Eaton (NYSE:ETN) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.40 earnings per share. Research analysts expect that Eaton will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be given a $1.04 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.27%. Eaton’s dividend payout ratio is presently 41.98%.

Insiders Place Their Bets

In other Eaton news, insider Craig Arnold sold 103,486 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the sale, the insider now owns 490,208 shares in the company, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael Yelton sold 2,120 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider now directly owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,660 shares of company stock worth $49,622,894. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. IMA Advisory Services Inc. acquired a new position in shares of Eaton during the 1st quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new position in Eaton in the 4th quarter valued at $26,000. Flagship Wealth Advisors LLC acquired a new position in Eaton in the 4th quarter valued at $27,000. Creative Financial Designs Inc. ADV raised its stake in Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 51 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new position in Eaton in the 4th quarter valued at $30,000. 82.97% of the stock is 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.