Posted by admin on Jul 15th, 2022
Eaton (NYSE:ETN – Get Rating) had its price objective cut by Deutsche Bank Aktiengesellschaft from $178.00 to $156.00 in a research note issued on Wednesday, The Fly reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 24.76% from the stock’s current price.
Other research analysts also recently issued research reports about the stock. Morgan Stanley decreased their target price on shares of Eaton from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Tuesday, May 31st. StockNews.com upgraded shares of Eaton from a “hold” rating to a “buy” rating in a research note on Friday, July 8th. Citigroup cut their price target on shares of Eaton from $180.00 to $150.00 in a research note on Thursday, July 7th. Wells Fargo & Company cut their price target on shares of Eaton from $142.00 to $139.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Barclays cut their price target on shares of Eaton from $120.00 to $112.00 and set an “underweight” rating for the company in a research note on Friday, July 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $163.40.
Eaton stock opened at $125.04 on Wednesday. The company has a market cap of $49.89 billion, a P/E ratio of 22.61, a price-to-earnings-growth ratio of 1.55 and a beta of 1.15. Eaton has a 1-year low of $122.50 and a 1-year high of $175.72. The company has a fifty day simple moving average of $134.16 and a 200 day simple moving average of $147.39. The company has a current ratio of 0.99, a quick ratio of 0.59 and a debt-to-equity ratio of 0.41.
Eaton (NYSE:ETN – Get Rating) last released its earnings results on Tuesday, May 3rd. The industrial products company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.02. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.78 billion. Eaton had a net margin of 11.21% and a return on equity of 16.92%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.44 earnings per share. On average, equities research analysts forecast that Eaton will post 7.49 EPS for the current year.
In other Eaton news, insider Boise April Miller sold 12,283 shares of Eaton stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $138.66, for a total value of $1,703,160.78. Following the completion of the sale, the insider now owns 11,435 shares in the company, valued at approximately $1,585,577.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the business. Stonnington Group LLC increased its holdings in Eaton by 11.1% in the 1st quarter. Stonnington Group LLC now owns 13,010 shares of the industrial products company’s stock valued at $1,851,000 after buying an additional 1,300 shares during the period. Rosenberg Matthew Hamilton increased its holdings in Eaton by 54.6% in the 1st quarter. Rosenberg Matthew Hamilton now owns 779 shares of the industrial products company’s stock valued at $118,000 after buying an additional 275 shares during the period. MTM Investment Management LLC increased its holdings in Eaton by 34.2% in the 4th quarter. MTM Investment Management LLC now owns 2,355 shares of the industrial products company’s stock valued at $407,000 after buying an additional 600 shares during the period. Louisiana State Employees Retirement System increased its holdings in Eaton by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the industrial products company’s stock valued at $3,764,000 after buying an additional 200 shares during the period. Finally, Mendel Capital Management LLC bought a new position in Eaton in the 4th quarter valued at about $270,000. 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.
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