Eaton (NYSE:ETN - Get Free Report) was upgraded by research analysts at KeyCorp from a "sector weight" rating to an "overweight" rating in a report released on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a $340.00 target price on the industrial products company's stock. KeyCorp's target price points to a potential upside of 20.19% from the stock's current price.
Other analysts have also issued research reports about the company. UBS Group began coverage on Eaton in a research note on Wednesday, November 13th. They issued a "buy" rating and a $431.00 target price for the company. Jefferies Financial Group upped their target price on Eaton from $400.00 to $440.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Citigroup cut their target price on Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Bank of America increased their price objective on Eaton from $350.00 to $410.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company dropped their price objective on Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $361.45.
Read Our Latest Research Report on Eaton
Eaton Trading Up 1.9 %
Shares of Eaton stock opened at $282.89 on Wednesday. The stock's 50-day simple moving average is $319.04 and its 200 day simple moving average is $331.92. Eaton has a 52-week low of $255.65 and a 52-week high of $379.99. The stock has a market capitalization of $110.89 billion, a P/E ratio of 29.78, 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 quick ratio of 0.96 and a current ratio of 1.50.
Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm earned $2.55 EPS. As a group, research analysts anticipate that Eaton will post 12.02 EPS for the current year.
Insider Activity at Eaton
In other Eaton news, Director Gregory R. Page sold 10,000 shares of the company's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the transaction, the director now owns 43,203 shares of the company's stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.53% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Eaton
Hedge funds have recently bought and sold shares of the business. Capital A Wealth Management LLC bought a new position in Eaton in the 4th quarter valued at $26,000. Flagship Wealth Advisors LLC bought a new position in Eaton in the 4th quarter valued at $27,000. Noble Wealth Management PBC bought a new position in Eaton in the 4th quarter valued at $30,000. Groupama Asset Managment grew its position 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 acquiring an additional 4,298 shares during the last quarter. Finally, Horizon Bancorp Inc. IN grew its position in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock worth $32,000 after buying an additional 74 shares in the last quarter. Institutional investors own 82.97% of the company's stock.
About Eaton
(
Get Free Report)
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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