Eaton (NYSE:ETN) Upgraded to Peer Perform by Wolfe Research

Eaton (NYSE:ETN - Get Free Report) was upgraded by research analysts at Wolfe Research from an "underperform" rating to a "peer perform" rating in a report released on Friday, Marketbeat Ratings reports.

ETN has been the topic of a number of other reports. Royal Bank of Canada cut their target price on Eaton from $376.00 to $371.00 and set an "outperform" rating on the stock in a research report on Friday, August 2nd. Evercore ISI cut 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. Wells Fargo & Company lowered their price target on Eaton from $320.00 to $315.00 and set an "equal weight" rating on the stock in a report on Friday, August 2nd. Raymond James initiated coverage on Eaton in a report on Friday, June 28th. They set an "outperform" rating and a $375.00 price target on the stock. Finally, Barclays lifted their price target on Eaton from $318.00 to $319.00 and gave the company an "equal weight" rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $335.76.

Eaton Price Performance

Shares of ETN traded down $0.75 during midday trading on Friday, reaching $284.97. The stock had a trading volume of 2,152,969 shares, compared to its average volume of 2,172,367. 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 current ratio of 1.56 and a quick ratio of 1.07. The firm's 50 day moving average price is $303.05 and its 200-day moving average price is $310.88. The company has a market capitalization of $113.93 billion, a P/E ratio of 34.28, a P/E/G 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 EPS for the quarter, topping analysts' consensus estimates of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. On average, analysts forecast that Eaton will post 10.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Eaton

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the company's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Michael Yelton sold 3,136 shares of the business's stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the transaction, the insider now owns 3,914 shares of the company's stock, valued at approximately $1,186,411.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the business's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares of the company's stock, valued at approximately $2,858,328. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock worth $15,809,326 over the last 90 days. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eaton

Several large investors have recently made changes to their positions in ETN. Gryphon Financial Partners LLC lifted its position in shares of Eaton by 81.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company's stock worth $565,000 after purchasing an additional 1,053 shares during the last quarter. Ethos Financial Group LLC acquired a new position in shares of Eaton during the 4th quarter worth about $201,000. Montag A & Associates Inc. lifted its position in shares of Eaton by 6.6% during the 4th quarter. Montag A & Associates Inc. now owns 3,246 shares of the industrial products company's stock worth $782,000 after purchasing an additional 200 shares during the last quarter. Principal Securities Inc. acquired a new position in Eaton in the 4th quarter valued at approximately $1,043,000. Finally, Calton & Associates Inc. acquired a new position in Eaton in the 4th quarter valued at approximately $224,000. Institutional investors and hedge funds 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.