Evercore ISI Lowers Eaton (NYSE:ETN) Price Target to $326.00

Eaton (NYSE:ETN - Free Report) had its price target decreased by Evercore ISI from $382.00 to $326.00 in a research report released on Wednesday,Benzinga reports. Evercore ISI currently has an in-line rating on the industrial products company's stock.

A number of other equities research analysts also recently weighed in on ETN. JPMorgan Chase & Co. lowered their target price on shares of Eaton from $350.00 to $348.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 15th. Melius downgraded shares of 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. Melius Research reaffirmed a "hold" rating and issued a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Mizuho raised their target price on shares of Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Citigroup decreased their price target on shares of Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $366.05.

Eaton Price Performance

Shares of ETN stock traded down $11.71 during trading hours on Wednesday, reaching $297.11. The stock had a trading volume of 4,384,652 shares, compared to its average volume of 3,361,496. The stock's fifty day simple moving average is $333.15 and its 200 day simple moving average is $331.88. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton has a 12 month low of $255.65 and a 12 month high of $379.99. The firm has a market capitalization of $117.42 billion, a PE ratio of 31.27, a PEG ratio of 2.65 and a beta of 1.05.

Eaton (NYSE:ETN - Get Free Report) last announced its 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 net margin of 15.25% and a return on equity of 22.62%. During the same period in the prior year, the company earned $2.55 EPS. On average, equities research analysts predict that Eaton will post 12.02 EPS for the current year.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were 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 in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares in the company, valued at $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company's stock.

Institutional Trading of Eaton

Several large investors have recently added to or reduced their stakes in ETN. Foundations Investment Advisors LLC boosted its holdings in Eaton by 17.4% in the third quarter. Foundations Investment Advisors LLC now owns 1,830 shares of the industrial products company's stock valued at $607,000 after acquiring an additional 271 shares in the last quarter. Calton & Associates Inc. boosted its holdings in shares of Eaton by 63.7% during the 3rd quarter. Calton & Associates Inc. now owns 1,264 shares of the industrial products company's stock valued at $419,000 after buying an additional 492 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Eaton by 16.7% during the 3rd quarter. Private Advisor Group LLC now owns 38,564 shares of the industrial products company's stock valued at $12,782,000 after buying an additional 5,508 shares in the last quarter. GAM Holding AG boosted its holdings in shares of Eaton by 4.7% during the 3rd quarter. GAM Holding AG now owns 10,948 shares of the industrial products company's stock valued at $3,629,000 after buying an additional 490 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Eaton by 31.0% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 2,716 shares of the industrial products company's stock valued at $901,000 after buying an additional 643 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

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.