Eaton (NYSE:ETN) PT Raised to $327.00

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

ETN has been the topic of a number of other reports. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Jefferies Financial Group lifted their price target on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Raymond James dropped their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Morgan Stanley initiated coverage on Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Finally, Royal Bank of Canada dropped their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $337.88.

Eaton Price Performance

NYSE:ETN opened at $326.96 on Wednesday. The business’s 50-day moving average price is $302.61 and its 200 day moving average price is $314.43. 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 52-week low of $191.82 and a 52-week high of $345.19. 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 (NYSE:ETN) last released its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, sell-side analysts predict that Eaton will post 10.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Eaton

In other Eaton news, Director Dorothy C. Thompson bought 2,205 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was bought 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 directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Eaton news, Director Dorothy C. Thompson bought 2,205 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was bought 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 directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock worth $15,809,326 over the last ninety days. 0.53% of the stock is currently owned by insiders.

Institutional Trading of Eaton

Several large investors have recently added to or reduced their stakes in ETN. J. W. Coons Advisors LLC boosted its holdings in shares of Eaton by 2.1% during the 4th quarter. J. W. Coons Advisors LLC now owns 12,979 shares of the industrial products company’s stock worth $3,126,000 after buying an additional 265 shares during the period. Rafferty Asset Management LLC boosted its holdings in shares of Eaton by 5.5% during the 4th quarter. Rafferty Asset Management LLC now owns 33,490 shares of the industrial products company’s stock worth $8,065,000 after buying an additional 1,757 shares during the period. Peapack Gladstone Financial Corp boosted its holdings in shares of Eaton by 1.8% during the 4th quarter. Peapack Gladstone Financial Corp now owns 13,317 shares of the industrial products company’s stock worth $3,207,000 after buying an additional 233 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of Eaton by 16.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 22,696 shares of the industrial products company’s stock worth $5,466,000 after buying an additional 3,284 shares during the period. Finally, Capital World Investors bought a new stake in shares of Eaton during the 4th quarter worth $181,411,000. 82.97% of the stock is owned by institutional investors.

About Eaton

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.