Posted by admin on Jun 3rd, 2022
Eaton (NYSE:ETN – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.
A number of other analysts have also commented on the company. Wells Fargo & Company lifted their price target on Eaton from $149.00 to $159.00 in a report on Wednesday, May 4th. Mizuho lowered their target price on Eaton from $195.00 to $185.00 in a research note on Wednesday, May 4th. Morgan Stanley lowered their target price on Eaton from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Tuesday. Royal Bank of Canada boosted their target price on Eaton from $153.00 to $156.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 2nd. Finally, Robert W. Baird boosted their target price on Eaton from $150.00 to $155.00 in a research note on Tuesday, May 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $171.13.
Shares of NYSE:ETN traded up $3.10 during mid-day trading on Thursday, hitting $140.82. 1,287,226 shares of the company traded hands, compared to its average volume of 2,142,665. The stock has a market cap of $56.19 billion, a P/E ratio of 25.46, a P/E/G ratio of 1.68 and a beta of 1.16. 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 has a 12-month low of $130.43 and a 12-month high of $175.72. The stock has a 50-day moving average price of $144.30 and a two-hundred day moving average price of $155.54.
Eaton (NYSE:ETN – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.78 billion. Eaton had a return on equity of 16.92% and a net margin of 11.21%. Eaton’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company posted $1.44 earnings per share. As a group, analysts expect that Eaton will post 7.51 earnings per share for the current year.
In other Eaton news, insider Joao V. Faria sold 11,852 shares of the company’s stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $150.00, for a total transaction of $1,777,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Boise April Miller sold 12,283 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 11,435 shares of the company’s stock, valued at approximately $1,585,577.10. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.
Large investors have recently made changes to their positions in the company. Insight Advisors LLC PA grew its stake in shares of Eaton by 23.8% in the 1st quarter. Insight Advisors LLC PA now owns 2,028 shares of the industrial products company’s stock worth $308,000 after buying an additional 390 shares during the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of Eaton by 2.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 21,100 shares of the industrial products company’s stock worth $3,202,000 after buying an additional 553 shares during the last quarter. Midwest Wealth Management Inc. boosted its stake in Eaton by 5.6% during the 1st quarter. Midwest Wealth Management Inc. now owns 12,920 shares of the industrial products company’s stock valued at $1,961,000 after purchasing an additional 688 shares during the last quarter. Fortitude Advisory Group L.L.C. boosted its stake in Eaton by 112.3% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,019 shares of the industrial products company’s stock valued at $155,000 after purchasing an additional 539 shares during the last quarter. Finally, Phocas Financial Corp. purchased a new stake in Eaton during the 1st quarter valued at $1,019,000. 79.10% of the stock is owned by hedge funds and other institutional investors.
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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