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Eaton (NYSE:ETN - Get Rating) had its price target raised by equities researchers at Barclays from $112.00 to $124.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an "underweight" rating on the industrial products company's stock. Barclays's price objective suggests a potential downside of 16.68% from the company's previous close.
Several other research analysts have also issued reports on ETN. Citigroup boosted their target price on Eaton from $150.00 to $170.00 in a research report on Thursday. StockNews.com raised shares of Eaton from a "hold" rating to a "buy" rating in a research note on Friday, July 8th. Morgan Stanley boosted their price objective on shares of Eaton from $170.00 to $176.00 and gave the stock an "overweight" rating in a research note on Wednesday. Credit Suisse Group reduced their price objective on shares of Eaton from $187.00 to $179.00 in a research note on Wednesday, May 4th. Finally, UBS Group reduced their price target on Eaton from $192.00 to $173.00 and set a "buy" rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $161.33.Eaton Trading Up 0.1 %
ETN traded up $0.12 on Wednesday, hitting $148.82. The company had a trading volume of 18,704 shares, compared to its average volume of 1,618,451. The company has a market cap of $59.38 billion, a PE ratio of 25.92, a PEG ratio of 1.77 and a beta of 1.19. Eaton has a 12-month low of $122.50 and a 12-month high of $175.72. The company has a quick ratio of 0.59, a current ratio of 0.97 and a debt-to-equity ratio of 0.38. The business's fifty day simple moving average is $134.10 and its 200 day simple moving average is $144.40.
Eaton (NYSE:ETN - Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.82 by $0.05. Eaton had a return on equity of 17.04% and a net margin of 11.70%. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the business posted $1.72 earnings per share. The firm's revenue was down .1% on a year-over-year basis. Equities research analysts expect that Eaton will post 7.5 EPS for the current year. Insider Transactions at Eaton
In related news, insider Boise April Miller sold 12,283 shares of the company's stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $138.66, for a total transaction of $1,703,160.78. Following the completion of the transaction, the insider now owns 11,435 shares in the company, valued at approximately $1,585,577.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.56% of the company's stock. Institutional Trading of Eaton
Hedge funds have recently bought and sold shares of the business. WFA of San Diego LLC purchased a new stake in shares of Eaton in the 2nd quarter valued at approximately $25,000. Financial Management Professionals Inc. boosted its position in Eaton by 288.6% in the 1st quarter. Financial Management Professionals Inc. now owns 171 shares of the industrial products company's stock valued at $26,000 after buying an additional 127 shares during the period. MV Capital Management Inc. boosted its position in Eaton by 105.0% in the 2nd quarter. MV Capital Management Inc. now owns 207 shares of the industrial products company's stock valued at $26,000 after buying an additional 106 shares during the period. Hazlett Burt & Watson Inc. purchased a new position in Eaton in the 1st quarter valued at approximately $30,000. Finally, Steward Financial Group LLC acquired a new stake in shares of Eaton in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 79.10% of the company's stock. Eaton Company Profile (Get Rating)
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.Further ReadingGet a free copy of the StockNews.com research report on Eaton (ETN)Chipotle Mexican Grill Or Shake Shak? Which Is The Tastier Play Activision Blizzard Banks On A Flurry Of New Content Energy Transfer Is A Value Among High-Yield Energy Infrastructure3 Low Priced Stocks With Good Growth ProspectsDevon Energy Looks Attractive if You Look Past the Headlines
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