Eaton (NYSE:ETN) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Eaton (NYSE:ETN) had its price objective increased by stock analysts at Jefferies Financial Group from $400.00 to $440.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Jefferies Financial Group’s price target points to a potential upside of 18.58% from the company’s current price.

A number of other research firms also recently commented on ETN. Mizuho boosted their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Barclays raised their price objective on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday. Wells Fargo & Company boosted their target price on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $374.00 target price on shares of Eaton in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.72.

Eaton Stock Down 1.7 %

ETN opened at $371.05 on Friday. The stock has a market cap of $146.64 billion, a P/E ratio of 39.47, a P/E/G ratio of 2.83 and a beta of 1.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton has a 12 month low of $226.63 and a 12 month high of $379.99. The stock’s 50 day moving average price is $351.88 and its 200 day moving average price is $325.70.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. Eaton’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $2.47 EPS. As a group, research analysts predict that Eaton will post 10.8 earnings per share for the current year.

Insider Buying and Selling

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,981 shares of company stock worth $24,100,317. 0.53% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Breakwater Investment Management lifted its holdings in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares during the last quarter. Proffitt & Goodson Inc. bought a new position in shares of Eaton in the second quarter valued at approximately $29,000. Morse Asset Management Inc acquired a new stake in shares of Eaton in the third quarter worth $33,000. LGT Financial Advisors LLC bought a new stake in shares of Eaton during the 2nd quarter worth $33,000. Finally, West Financial Advisors LLC bought a new position in Eaton in the 3rd quarter worth $35,000. Institutional investors 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.