Eaton PT Raised to $70.00 (ETN)
Equities researchers at Robert W. Baird lifted their target price on shares of Eaton (NYSE: ETN) from $67.00 to $70.00 in a report issued on Monday. The firm currently has an “outperform” rating on the stock.
Eaton traded down 0.71% on Monday, hitting $62.215. Eaton has a 1-year low of $36.38 and a 1-year high of $63.63. The stock’s 50-day moving average is currently $58.60. The company has a market cap of $23.723 billion and a price-to-earnings ratio of 18.11.
Eaton last announced its earnings results 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 in the prior year, the company posted $1.08 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Eaton has set its Q1 guidance at $0.76-0.86 EPS and its FY13 guidance at $4.05-4.45 EPS. Analysts expect that Eaton will post $4.36 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on ETN. Analysts at MKM Partners raised their price target on shares of Eaton from $70.00 to $75.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Eaton in a research note to investors on Thursday. Finally, analysts at Credit Suisse initiated coverage on shares of Eaton in a research note to investors on Monday, February 25th. They set an “outperform” rating and a $72.00 price target on the stock.
Thirteen equities research analysts have rated the stock with a buy rating, one has assigned an overweight rating, and seven have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “overweight” and an average price target of $65.78.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 22nd. Shareholders of record on Monday, March 11th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.68%.
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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