Eaton (ETN) Given a $97.00 Price Target at UBS Group

UBS Group set a $97.00 target price on Eaton (NYSE:ETN) in a research report sent to investors on Wednesday morning, www.stocktargetadvisor.com reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other research analysts also recently issued reports on the company. Wells Fargo & Co reaffirmed a buy rating on shares of Eaton in a research note on Wednesday, September 26th. Deutsche Bank upped their price objective on Eaton from $95.00 to $102.00 and gave the company a buy rating in a research note on Friday, September 28th. Morgan Stanley started coverage on Eaton in a research note on Monday, August 20th. They issued an equal weight rating and a $86.00 price objective for the company. MED raised Eaton from a hold rating to a buy rating and set a $86.00 price objective for the company in a research note on Thursday, July 12th. Finally, Zacks Investment Research raised Eaton from a hold rating to a buy rating and set a $84.00 price objective for the company in a research note on Tuesday, July 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Eaton presently has a consensus rating of Buy and an average target price of $86.12.

Shares of ETN stock traded down $0.51 on Wednesday, reaching $73.24. The company had a trading volume of 3,311,600 shares, compared to its average volume of 3,488,107. The stock has a market capitalization of $31.74 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.33 and a beta of 1.49. The company has a current ratio of 1.49, a quick ratio of 0.96 and a debt-to-equity ratio of 0.40. Eaton has a one year low of $67.70 and a one year high of $89.85.

Eaton (NYSE:ETN) last released its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.43. Eaton had a return on equity of 13.48% and a net margin of 10.06%. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts predict that Eaton will post 5.35 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Friday, November 2nd will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date is Thursday, November 1st. Eaton’s dividend payout ratio is presently 56.77%.

In other Eaton news, insider Ken D. Semelsberger sold 11,500 shares of the stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $86.57, for a total transaction of $995,555.00. Following the completion of the sale, the insider now owns 78,883 shares of the company’s stock, valued at approximately $6,828,901.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard H. Fearon sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $83.29, for a total transaction of $2,082,250.00. Following the sale, the insider now directly owns 221,459 shares of the company’s stock, valued at approximately $18,445,320.11. The disclosure for this sale can be found here. Insiders have sold a total of 55,000 shares of company stock valued at $4,617,645 in the last three months. Insiders own 0.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in ETN. Allianz Asset Management GmbH increased its position in Eaton by 4.7% during the 1st quarter. Allianz Asset Management GmbH now owns 2,005,237 shares of the industrial products company’s stock valued at $160,238,000 after purchasing an additional 89,950 shares during the period. Cibc Bank USA acquired a new stake in shares of Eaton during the 2nd quarter worth approximately $236,000. New England Research & Management Inc. acquired a new stake in shares of Eaton during the 2nd quarter worth approximately $893,000. Bangor Savings Bank grew its position in shares of Eaton by 7.4% during the 2nd quarter. Bangor Savings Bank now owns 11,648 shares of the industrial products company’s stock worth $871,000 after buying an additional 798 shares during the period. Finally, First Financial Bank Trust Division grew its position in shares of Eaton by 10.9% during the 2nd quarter. First Financial Bank Trust Division now owns 57,235 shares of the industrial products company’s stock worth $4,277,000 after buying an additional 5,612 shares during the period. 77.79% of the stock is owned by institutional investors and hedge funds.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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