Eaton (NYSE:ETN - Get Free Report) had its price objective hoisted by research analysts at Mizuho from $365.00 to $385.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an "outperform" rating on the industrial products company's stock. Mizuho's price objective suggests a potential upside of 14.93% from the company's current price.
Other analysts also recently issued research reports about the company. Evercore ISI lowered their target price on Eaton from $357.00 to $333.00 and set an "outperform" rating on the stock in a research report on Monday, August 19th. Royal Bank of Canada reiterated an "outperform" rating and set a $374.00 price objective on shares of Eaton in a research note on Friday. Jefferies Financial Group raised their target price on shares of Eaton from $370.00 to $385.00 and gave the company a "buy" rating in a research note on Thursday, July 11th. Citigroup initiated coverage on shares of Eaton in a research report on Monday, September 16th. They set a "buy" rating and a $348.00 price target on the stock. Finally, Wolfe Research raised shares of Eaton from an "underperform" rating to a "peer perform" rating in a research report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $341.00.
Read Our Latest Stock Analysis on Eaton
Eaton Stock Up 1.0 %
NYSE:ETN traded up $3.42 during trading hours on Friday, reaching $335.00. 2,369,132 shares of the stock were exchanged, compared to its average volume of 2,106,960. The stock has a market cap of $133.36 billion, a PE ratio of 36.85, a PEG ratio of 2.62 and a beta of 1.02. Eaton has a twelve month low of $211.99 and a twelve month high of $349.74. The firm has a 50 day moving average of $323.09 and a 200 day moving average of $318.29. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07.
Eaton (NYSE:ETN - Get Free Report) last announced its earnings results 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 net margin of 15.12% and a return on equity of 21.45%. The business had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter in the prior year, the company posted $2.47 earnings per share. The firm's revenue was up 7.9% on a year-over-year basis. On average, equities analysts expect that Eaton will post 10.75 earnings per share for the current year.
Insider Transactions at Eaton
In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares of the company's stock, valued at approximately $662,161.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Dorothy C. Thompson purchased 2,205 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the transaction, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Eaton
Several institutional investors and hedge funds have recently bought and sold shares of ETN. Legal & General Group Plc boosted its position in shares of Eaton by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company's stock worth $1,005,317,000 after acquiring an additional 18,077 shares in the last quarter. Capital World Investors boosted its holdings in shares of Eaton by 323.8% in the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company's stock valued at $998,255,000 after purchasing an additional 2,439,270 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Eaton by 15.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company's stock valued at $412,108,000 after purchasing an additional 176,571 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Eaton by 2,857.4% during the 1st quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company's stock worth $394,752,000 after buying an additional 1,219,790 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Eaton by 27,075.5% in the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company's stock valued at $355,959,000 after buying an additional 1,070,024 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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