Barclays Lowers Eaton (NYSE:ETN) Price Target to $306.00

Eaton (NYSE:ETN - Get Free Report) had its price objective dropped by investment analysts at Barclays from $315.00 to $306.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the industrial products company's stock. Barclays's target price would indicate a potential upside of 22.08% from the stock's previous close.

Several other brokerages have also recently weighed in on ETN. Citigroup decreased their price target on Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company lowered their target price on shares of Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price target on shares of Eaton from $350.00 to $348.00 and set an "overweight" rating for the company in a research report on Wednesday, January 15th. Royal Bank of Canada lowered their price objective on Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Finally, Melius lowered Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price on the stock. in a research note on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Eaton presently has an average rating of "Moderate Buy" and a consensus price target of $352.79.

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Eaton Stock Performance

NYSE:ETN traded down $1.79 on Friday, reaching $250.67. 5,126,843 shares of the company's stock were exchanged, compared to its average volume of 2,592,690. The firm has a market cap of $98.20 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The stock has a fifty day simple moving average of $295.28 and a 200-day simple moving average of $329.70. Eaton has a 52 week low of $231.85 and a 52 week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts' consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period last year, the business posted $2.55 earnings per share. As a group, sell-side analysts predict that Eaton will post 12.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Beese Fulmer Investment Management Inc. lifted its position in Eaton by 8.1% during the first quarter. Beese Fulmer Investment Management Inc. now owns 43,902 shares of the industrial products company's stock valued at $11,934,000 after buying an additional 3,294 shares during the period. New Hampshire Trust lifted its stake in Eaton by 2.1% during the 1st quarter. New Hampshire Trust now owns 13,715 shares of the industrial products company's stock valued at $3,728,000 after acquiring an additional 281 shares during the period. BTC Capital Management Inc. lifted its holdings in shares of Eaton by 1.3% during the 1st quarter. BTC Capital Management Inc. now owns 26,486 shares of the industrial products company's stock valued at $7,200,000 after buying an additional 344 shares during the period. Doliver Advisors LP lifted its stake in shares of Eaton by 3.8% in the 1st quarter. Doliver Advisors LP now owns 10,901 shares of the industrial products company's stock worth $2,963,000 after purchasing an additional 397 shares during the period. Finally, Rothschild Investment LLC grew its position in Eaton by 377.9% during the first quarter. Rothschild Investment LLC now owns 15,292 shares of the industrial products company's stock valued at $4,157,000 after buying an additional 12,092 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

About Eaton

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.