Eaton (NYSE:ETN) Upgraded at KeyCorp

KeyCorp upgraded shares of Eaton (NYSE:ETN) from a sector weight rating to an overweight rating in a report published on Wednesday morning, MarketBeat reports. KeyCorp currently has $340.00 price target on the industrial products company’s stock. KeyCorp also issued estimates for Eaton’s Q1 2025 earnings at $2.70 EPS, Q2 2025 earnings at $3.12 EPS, Q3 2025 earnings at $3.06 EPS, Q4 2025 earnings at $3.18 EPS, FY2025 earnings at $12.05 EPS and FY2026 earnings at $13.46 EPS.

Several other analysts also recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Bank of America lifted their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Royal Bank of Canada reduced their price target on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Citigroup cut their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Barclays reduced their target price on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average target price of $356.20.

Eaton Stock Performance

ETN stock opened at $294.53 on Wednesday. Eaton has a 1-year low of $255.65 and a 1-year high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm has a market cap of $115.45 billion, a PE ratio of 31.00, a P/E/G ratio of 2.64 and a beta of 1.09. The business’s 50-day moving average price is $316.31 and its two-hundred day moving average price is $331.29.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the firm posted $2.55 earnings per share. As a group, research analysts forecast that Eaton will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a $1.04 dividend. This is an increase from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.41%. Eaton’s dividend payout ratio is presently 43.79%.

Institutional Trading of Eaton

Several institutional investors have recently added to or reduced their stakes in ETN. United Bank bought a new position in Eaton during the third quarter worth about $258,000. Wolverine Asset Management LLC acquired a new position in shares of Eaton during the 3rd quarter worth approximately $1,160,000. Venturi Wealth Management LLC increased its holdings in shares of Eaton by 2.1% during the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after purchasing an additional 32 shares during the period. Nations Financial Group Inc. IA ADV raised its position in shares of Eaton by 72.2% in the third quarter. Nations Financial Group Inc. IA ADV now owns 3,419 shares of the industrial products company’s stock valued at $1,133,000 after buying an additional 1,434 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Eaton in the third quarter valued at approximately $295,000. 82.97% of the stock is currently owned by institutional investors.

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.