Posted by admin on May 31st, 2022
Eaton (NYSE:ETN – Get Rating) had its price target cut by Morgan Stanley from $180.00 to $170.00 in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s target price would indicate a potential upside of 23.59% from the stock’s current price.
Other analysts have also recently issued research reports about the company. Credit Suisse Group dropped their price objective on Eaton from $187.00 to $179.00 in a research report on Wednesday, May 4th. Barclays cut Eaton from an “equal weight” rating to an “underweight” rating and set a $120.00 price target for the company. in a report on Tuesday, May 24th. Wells Fargo & Company lifted their price target on Eaton from $149.00 to $159.00 in a report on Wednesday, May 4th. Mizuho reduced their price objective on Eaton from $195.00 to $185.00 in a research note on Wednesday, May 4th. Finally, Robert W. Baird boosted their price target on Eaton from $150.00 to $155.00 in a research report on Tuesday, May 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $171.13.
ETN stock traded down $2.27 during trading on Tuesday, hitting $137.55. The company had a trading volume of 15,625 shares, compared to its average volume of 2,575,301. The firm has a market cap of $54.88 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. Eaton has a 1-year low of $130.43 and a 1-year high of $175.72. The firm has a 50-day moving average price of $144.93 and a 200-day moving average price of $155.78. The company has a quick ratio of 0.59, a current ratio of 0.99 and a debt-to-equity ratio of 0.41.
Eaton (NYSE:ETN – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.02. Eaton had a return on equity of 16.92% and a net margin of 11.21%. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the firm posted $1.44 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Sell-side analysts anticipate that Eaton will post 7.52 earnings per share for the current year.
In related news, insider Joao V. Faria sold 11,852 shares of Eaton stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $150.00, for a total value of $1,777,800.00. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.56% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Management Professionals Inc. boosted its position in Eaton by 288.6% during the 1st quarter. Financial Management Professionals Inc. now owns 171 shares of the industrial products company’s stock worth $26,000 after buying an additional 127 shares during the period. Bell Investment Advisors Inc acquired a new stake in Eaton during the 3rd quarter worth approximately $27,000. Hazlett Burt & Watson Inc. acquired a new stake in Eaton during the 1st quarter worth approximately $30,000. Arlington Partners LLC acquired a new stake in Eaton during the 4th quarter worth approximately $31,000. Finally, Steward Financial Group LLC bought a new position in Eaton during the 1st quarter worth approximately $32,000. 79.10% of the stock is owned by hedge funds and other institutional investors.
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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