Eaton (NYSE:ETN) Price Target Cut to $325.00 by Analysts at KeyCorp

Eaton (NYSE:ETN - Get Free Report) had its price objective reduced by stock analysts at KeyCorp from $340.00 to $325.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the industrial products company's stock. KeyCorp's price objective indicates a potential upside of 17.27% from the company's current price.

A number of other research firms have also weighed in on ETN. Royal Bank of Canada reduced their target price on Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. 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 lowered shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target for the company. in a research report on Tuesday, January 28th. Melius Research reiterated a "hold" rating and issued a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Finally, Citigroup decreased their target price on Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Eaton currently has an average rating of "Moderate Buy" and a consensus price target of $355.06.

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Eaton Stock Performance

Shares of ETN traded up $6.41 during mid-day trading on Tuesday, hitting $277.13. The stock had a trading volume of 3,833,121 shares, compared to its average volume of 2,620,567. Eaton has a 52 week low of $231.85 and a 52 week high of $379.99. 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 business has a fifty day moving average price of $289.36 and a 200-day moving average price of $327.22. The firm has a market cap of $108.57 billion, a P/E ratio of 29.17, a PEG ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm earned $2.55 EPS. On average, equities research analysts expect that Eaton will post 12.02 EPS for the current year.

Institutional Investors Weigh In On Eaton

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital A Wealth Management LLC bought a new stake in Eaton in the fourth quarter valued at approximately $26,000. Flagship Wealth Advisors LLC purchased a new position in shares of Eaton in the fourth quarter worth $27,000. Noble Wealth Management PBC purchased a new stake in Eaton during the 4th quarter valued at $30,000. Groupama Asset Managment grew its holdings in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock worth $31,000 after acquiring an additional 4,298 shares during the last quarter. Finally, Horizon Bancorp Inc. IN raised its stake in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 74 shares during 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.