Eaton (NYSE:ETN) PT Raised to $327.00

Eaton (NYSE:ETN) had its price target lifted by stock analysts at Barclays from $319.00 to $327.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price objective indicates a potential upside of 0.01% from the company’s previous close.

Several other brokerages also recently issued reports on ETN. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Wells Fargo & Company lowered their price objective on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada lowered their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Morgan Stanley initiated coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective for the company. Finally, Raymond James decreased their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $337.88.

Eaton Trading Down 0.3 %

Shares of ETN stock opened at $326.96 on Wednesday. The firm has a market cap of $130.72 billion, a P/E ratio of 38.60, a PEG ratio of 2.53 and a beta of 1.02. Eaton has a 1-year low of $191.82 and a 1-year 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 simple moving average is $302.61 and its 200-day simple moving average is $314.43.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. As a group, equities analysts forecast that Eaton will post 10.75 EPS for the current year.

Insiders Place Their Bets

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the transaction, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Eaton news, insider Michael Yelton sold 3,136 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now directly owns 3,914 shares in the company, valued at $1,186,411.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the sale, the insider now owns 71,262 shares in the company, valued at $21,451,287.24. 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 over the last 90 days. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Eaton

Hedge funds have recently added to or reduced their stakes in the stock. Norden Group LLC bought a new stake in Eaton in the first quarter valued at $2,176,000. Griffin Asset Management Inc. bought a new stake in shares of Eaton during the first quarter valued at about $813,000. IAM Advisory LLC bought a new stake in shares of Eaton during the second quarter valued at about $599,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of Eaton by 19.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock valued at $24,616,000 after purchasing an additional 12,689 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Eaton by 302.4% during the first quarter. Empowered Funds LLC now owns 23,273 shares of the industrial products company’s stock valued at $7,277,000 after purchasing an additional 17,490 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

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.