Barclays Increases Eaton (NYSE:ETN) Price Target to $353.00

Eaton (NYSE:ETN) had its target price raised by stock analysts at Barclays from $320.00 to $353.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price target would suggest a potential downside of 5.37% from the company’s current price.

A number of other research analysts also recently commented on the stock. Morgan Stanley began coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Citigroup assumed coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective for the company. Sanford C. Bernstein assumed coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Raymond James reduced their price objective 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. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned 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 $359.67.

Eaton Trading Down 1.2 %

Eaton stock traded down $4.48 during trading hours on Thursday, hitting $373.04. The company had a trading volume of 190,975 shares, compared to its average volume of 2,084,457. The firm has a market cap of $147.43 billion, a P/E ratio of 39.86, a P/E/G ratio of 2.83 and a beta of 1.03. The company has a 50-day moving average price of $351.12 and a two-hundred day moving average price of $325.38. Eaton has a 1 year low of $226.63 and a 1 year high of $379.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the business posted $2.47 EPS. Eaton’s quarterly revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts anticipate that Eaton will post 10.8 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,981 shares of company stock valued at $24,100,317. 0.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eaton

Institutional investors have recently bought and sold shares of the company. BDF Gestion purchased a new stake in Eaton during the second quarter worth about $2,508,000. Capital Investment Advisors LLC boosted its position in Eaton by 11.4% in the 2nd quarter. Capital Investment Advisors LLC now owns 5,282 shares of the industrial products company’s stock valued at $1,656,000 after buying an additional 541 shares during the period. Sax Wealth Advisors LLC grew its stake in Eaton by 39.1% during the 2nd quarter. Sax Wealth Advisors LLC now owns 1,710 shares of the industrial products company’s stock worth $536,000 after purchasing an additional 481 shares in the last quarter. Diversify Advisory Services LLC increased its holdings in Eaton by 14.0% during the 2nd quarter. Diversify Advisory Services LLC now owns 1,356 shares of the industrial products company’s stock worth $432,000 after purchasing an additional 167 shares during the period. Finally, Country Trust Bank boosted its stake in shares of Eaton by 11.6% in the 2nd quarter. Country Trust Bank now owns 959 shares of the industrial products company’s stock valued at $301,000 after buying an additional 100 shares during the period. 82.97% of the stock is owned by hedge funds and other 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.