Eaton (NYSE:ETN) Price Target Lowered to $325.00 at KeyCorp

Eaton (NYSE:ETN) had its price objective decreased by KeyCorp from $340.00 to $325.00 in a research note published on Tuesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the industrial products company’s stock.

A number of other brokerages also recently weighed in on ETN. JPMorgan Chase & Co. cut their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Melius Research reiterated a “hold” rating and issued a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Wells Fargo & Company decreased their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. StockNews.com lowered Eaton from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Evercore ISI lowered their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $355.06.

Eaton Stock Down 0.7 %

ETN opened at $250.67 on Tuesday. Eaton has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The firm has a market capitalization of $98.20 billion, a P/E ratio of 26.39, a PEG ratio of 2.64 and a beta of 1.09. The company’s 50-day moving average is $292.71 and its 200 day moving average is $328.59. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the previous year, the company posted $2.55 EPS. Research analysts expect that Eaton will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.66%. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date was Monday, March 10th. Eaton’s payout ratio is presently 43.79%.

Institutional Trading of Eaton

A number of large investors have recently modified their holdings of the business. Capital A Wealth Management LLC purchased a new stake in Eaton in the fourth quarter valued at approximately $26,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Eaton during the 4th quarter valued at $27,000. Noble Wealth Management PBC bought a new stake in shares of Eaton during the 4th quarter worth $30,000. Groupama Asset Managment grew its position in Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 4,298 shares in the last quarter. Finally, Horizon Bancorp Inc. IN increased its stake in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares during the last quarter. Institutional investors 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.