Eaton (NYSE:ETN) Rating Lowered to Hold at StockNews.com

Eaton (NYSE:ETN - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a report issued on Friday.

ETN has been the topic of several other research reports. Evercore ISI reduced their price objective on Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company lowered their price objective on shares of Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. Barclays lowered their price target on Eaton from $353.00 to $325.00 and set an "equal weight" rating for the company in a report on Monday, March 3rd. JPMorgan Chase & Co. dropped their target price on shares of Eaton from $350.00 to $348.00 and set an "overweight" rating on the stock in a report on Wednesday, January 15th. Finally, Melius Research reissued a "hold" rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Eaton presently has a consensus rating of "Moderate Buy" and an average price target of $357.68.

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Eaton Stock Down 0.9 %

Shares of Eaton stock traded down $2.73 on Friday, hitting $300.11. 3,393,961 shares of the company's stock traded hands, compared to its average volume of 2,409,119. Eaton has a 52-week low of $255.65 and a 52-week high of $379.99. The firm's 50-day moving average is $309.76 and its 200 day moving average is $331.90. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The stock has a market cap of $117.57 billion, a P/E ratio of 31.59, a PEG ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results 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 return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the business posted $2.55 earnings per share. Equities analysts anticipate that Eaton will post 12.02 earnings per share for the current year.

Hedge Funds Weigh In On Eaton

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital A Wealth Management LLC bought a new stake in shares of Eaton during the 4th quarter worth about $26,000. Flagship Wealth Advisors LLC bought a new position in shares of Eaton during the fourth quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new stake in Eaton during the 4th quarter worth approximately $30,000. Groupama Asset Managment boosted its stake in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 4,298 shares during the period. Finally, Horizon Bancorp Inc. IN grew its holdings in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock valued at $32,000 after buying an additional 74 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Company Profile

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.