Eaton (NYSE:ETN) Price Target Cut to $348.00 by Analysts at JPMorgan Chase & Co.

Eaton (NYSE:ETN - Get Free Report) had its price objective reduced by stock analysts at JPMorgan Chase & Co. from $350.00 to $348.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the industrial products company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 1.65% from the stock's current price.

Other analysts have also issued research reports about the company. UBS Group began coverage on Eaton in a report on Wednesday, November 13th. They issued a "buy" rating and a $431.00 price objective for the company. Bank of America upped their price target on shares of Eaton from $350.00 to $410.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Evercore ISI downgraded shares of Eaton from an "outperform" rating to an "inline" rating and raised their price objective for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Mizuho upped their target price on shares of Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Finally, Sanford C. Bernstein started coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an "outperform" rating and a $382.00 price target on the stock. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $368.89.

Eaton Stock Up 0.6 %

NYSE ETN traded up $2.21 during mid-day trading on Wednesday, reaching $342.35. The stock had a trading volume of 2,753,071 shares, compared to its average volume of 2,377,813. The stock has a market cap of $135.30 billion, a PE ratio of 36.42, a price-to-earnings-growth ratio of 2.70 and a beta of 1.06. Eaton has a 1 year low of $236.04 and a 1 year high of $379.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The company has a fifty day moving average price of $355.38 and a 200 day moving average price of $329.33.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the company earned $2.47 EPS. Eaton's revenue for the quarter was up 7.9% on a year-over-year basis. On average, research analysts expect that Eaton will post 10.8 earnings per share for the current year.

Insider Transactions at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the 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 directly owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the business's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares in the company, valued at $17,241,796.60. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Eaton by 253.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company's stock valued at $753,590,000 after purchasing an additional 1,629,856 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Eaton by 27,075.5% during the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company's stock worth $355,959,000 after buying an additional 1,070,024 shares during the period. Janus Henderson Group PLC increased its position in Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company's stock valued at $801,798,000 after acquiring an additional 597,700 shares during the last quarter. Electron Capital Partners LLC raised its stake in shares of Eaton by 8,348.9% in the second quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company's stock valued at $140,008,000 after acquiring an additional 441,239 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of Eaton in the 3rd quarter worth about $137,794,000. Hedge funds and other 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.