Jefferies Financial Group Increases Eaton (NYSE:ETN) Price Target to $440.00

Eaton (NYSE:ETN) had its price target raised by analysts at Jefferies Financial Group from $400.00 to $440.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 18.53% from the company’s previous close.

Several other research firms have also issued reports on ETN. Barclays increased their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday. Wells Fargo & Company raised their price objective on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Sanford C. Bernstein began coverage on Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $374.00 target price on shares of Eaton in a report on Friday, November 1st. Finally, UBS Group initiated coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Four investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.72.

Eaton Stock Up 0.0 %

Shares of NYSE ETN opened at $371.22 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $146.71 billion, a PE ratio of 39.49, a P/E/G ratio of 2.86 and a beta of 1.03. The firm has a fifty day moving average of $352.74 and a 200-day moving average of $325.88. Eaton has a 52-week low of $226.79 and a 52-week high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings results 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. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.47 earnings per share. On average, analysts anticipate that Eaton will post 10.8 EPS for the current year.

Insider Transactions at Eaton

In other news, 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 completion of the transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,981 shares of company stock worth $24,100,317. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eaton

Institutional investors have recently made changes to their positions in the stock. IAM Advisory LLC bought a new position in Eaton during the 2nd quarter worth $599,000. Interval Partners LP grew its position in shares of Eaton by 82.7% during the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after acquiring an additional 68,693 shares during the last quarter. Scientech Research LLC increased its holdings in shares of Eaton by 285.5% in the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock worth $1,801,000 after acquiring an additional 4,254 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in Eaton by 25.9% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 27,609 shares of the industrial products company’s stock valued at $8,657,000 after purchasing an additional 5,676 shares during the period. Finally, Leavell Investment Management Inc. grew its position in Eaton by 67.6% in the 2nd quarter. Leavell Investment Management Inc. now owns 8,556 shares of the industrial products company’s stock worth $2,683,000 after purchasing an additional 3,452 shares during the last quarter. 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.