Eaton (NYSE:ETN) Research Coverage Started at Morgan Stanley

Equities researchers at Morgan Stanley began coverage on shares of Eaton (NYSE:ETN - Get Free Report) in a report issued on Friday, Marketbeat.com reports. The brokerage set an "overweight" rating and a $370.00 price target on the industrial products company's stock. Morgan Stanley's price objective would suggest a potential upside of 29.84% from the stock's current price.

ETN has been the topic of several other reports. Barclays lifted their target price on shares of Eaton from $318.00 to $319.00 and gave the company an "equal weight" rating in a research report on Friday, August 2nd. Royal Bank of Canada dropped their target price on Eaton from $376.00 to $371.00 and set an "outperform" rating for the company in a report on Friday, August 2nd. Jefferies Financial Group boosted their price target on Eaton from $370.00 to $385.00 and gave the company a "buy" rating in a research note on Thursday, July 11th. Evercore ISI dropped their price objective on Eaton from $357.00 to $333.00 and set an "outperform" rating for the company in a research note on Monday, August 19th. Finally, Raymond James initiated coverage on shares of Eaton in a research note on Friday, June 28th. They issued an "outperform" rating and a $375.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $335.76.

Eaton Stock Down 0.3 %

Shares of ETN traded down $0.75 during trading hours on Friday, hitting $284.97. 2,163,719 shares of the company were exchanged, compared to its average volume of 2,172,430. The firm's 50 day moving average is $303.05 and its 200-day moving average is $310.88. Eaton has a 52 week low of $191.82 and a 52 week high of $345.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The company has a market cap of $113.93 billion, a PE ratio of 34.28, a PEG ratio of 2.35 and a beta of 1.01.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.12. The business had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. On average, equities research analysts forecast that Eaton will post 10.74 EPS for the current fiscal year.

Insider Activity

In other Eaton news, Director Dorothy C. Thompson acquired 2,205 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the acquisition, the director now directly owns 2,205 shares of the company's stock, valued at approximately $662,161.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Dorothy C. Thompson purchased 2,205 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the acquisition, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 in the last ninety days. 0.53% of the stock is owned by insiders.

Institutional Investors Weigh In On Eaton

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ETN. Vanguard Group Inc. increased its position in Eaton by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 36,595,656 shares of the industrial products company's stock worth $8,812,966,000 after buying an additional 259,615 shares during the last quarter. Norges Bank acquired a new stake in Eaton during the 4th quarter valued at $1,087,983,000. Coatue Management LLC boosted its position in Eaton by 5.2% during the fourth quarter. Coatue Management LLC now owns 3,986,445 shares of the industrial products company's stock worth $960,016,000 after purchasing an additional 195,809 shares during the period. Legal & General Group Plc increased its holdings in shares of Eaton by 0.6% in the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company's stock valued at $1,005,317,000 after purchasing an additional 18,077 shares during the last quarter. Finally, Capital World Investors lifted its stake in shares of Eaton by 323.8% during the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company's stock worth $998,255,000 after buying an additional 2,439,270 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.