Eaton (NYSE:ETN) Earns Buy Rating from Analysts at Citigroup

Stock analysts at Citigroup began coverage on shares of Eaton (NYSE:ETN) in a report released on Monday, Briefing.com reports. The firm set a “buy” rating and a $348.00 price target on the industrial products company’s stock. Citigroup’s price target suggests a potential upside of 13.80% from the company’s previous close.

Several other research analysts have also weighed in on ETN. Wells Fargo & Company lowered their price objective on Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Morgan Stanley started coverage on Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Raymond James lowered their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Finally, Royal Bank of Canada reduced their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $337.41.

Eaton Stock Up 0.8 %

NYSE ETN opened at $305.80 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. Eaton has a 52 week low of $191.82 and a 52 week high of $345.19. The business’s fifty day simple moving average is $300.56 and its 200-day simple moving average is $311.83. The firm has a market cap of $122.26 billion, a PE ratio of 36.10, a P/E/G ratio of 2.28 and a beta of 1.01.

Eaton (NYSE:ETN) last issued its earnings results 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 net margin of 15.12% and a return on equity of 21.45%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. As a group, equities analysts anticipate that Eaton will post 10.74 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Dorothy C. Thompson acquired 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction on Tuesday, September 3rd. The stock was bought 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was purchased at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the transaction, the director now owns 500 shares in the company, valued at approximately $149,485. The disclosure for this purchase can be found here. Insiders have sold a total of 52,511 shares of company stock worth $15,809,326 in the last quarter. 0.53% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Gryphon Financial Partners LLC boosted its holdings in Eaton by 81.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock valued at $565,000 after purchasing an additional 1,053 shares in the last quarter. Great Lakes Advisors LLC boosted its holdings in shares of Eaton by 24.8% in the 4th quarter. Great Lakes Advisors LLC now owns 2,176 shares of the industrial products company’s stock valued at $524,000 after buying an additional 432 shares in the last quarter. Financial Advocates Investment Management grew its position in shares of Eaton by 1.8% in the 4th quarter. Financial Advocates Investment Management now owns 2,499 shares of the industrial products company’s stock valued at $602,000 after buying an additional 45 shares during the last quarter. Motco lifted its position in Eaton by 8.5% in the fourth quarter. Motco now owns 1,213 shares of the industrial products company’s stock valued at $292,000 after acquiring an additional 95 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC boosted its stake in Eaton by 32.7% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 2,047 shares of the industrial products company’s stock valued at $493,000 after acquiring an additional 505 shares in the last quarter. 82.97% of the stock is 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.