February 06, 2013 at 10:33 AM EST
Jefferies Boosts Price Target on Eaton Corp (ETN)

Analysts at Jefferies & Co. increased the price target on Eaton Corp (ETN) after the company reported better than expected sales with higher margins.

The analysts maintain a “Hold” rating on ETN, but now see shares reaching $65. This new valuation suggests a 9% upside to Tuesday’s closing price of $59.37.

Eaton share were down slightly during morning trading on Wednesday. The stock is up +15% over the past year.

The Bottom Line
Shares of Eaton Corp (ETN) have a dividend yield of 2.57% based on Wednesday’s intraday trading price of $59.5 and the company’s annualized dividend payout $1.52 per share.

Eaton Corp (ETN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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