Eaton (NYSE:ETN) PT Raised to $365.00 at Mizuho

Eaton (NYSE:ETN) had its price target raised by research analysts at Mizuho from $355.00 to $365.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Mizuho’s target price indicates a potential upside of 7.01% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Evercore ISI lowered their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Wells Fargo & Company increased their target price on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Barclays increased their target price on Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Jefferies Financial Group increased their target price on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $340.06.

Eaton Stock Up 0.9 %

ETN opened at $341.10 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $311.66 and a two-hundred day moving average price of $316.19. Eaton has a 52 week low of $191.82 and a 52 week high of $347.35. The company has a market cap of $136.37 billion, a PE ratio of 40.27, a P/E/G ratio of 2.58 and a beta of 1.02.

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 the consensus estimate of $2.61 by $0.12. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, research analysts anticipate that Eaton will post 10.75 EPS for the current year.

Insider Buying and Selling

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Karenann K. Terrell bought 500 shares of the business’s stock in a transaction that occurred 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 directly owns 500 shares in the company, valued at approximately $149,485. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Eaton by 12.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 87,001 shares of the industrial products company’s stock valued at $28,836,000 after purchasing an additional 9,428 shares during the period. Secure Asset Management LLC raised its position in Eaton by 8.8% in the third quarter. Secure Asset Management LLC now owns 2,745 shares of the industrial products company’s stock valued at $910,000 after purchasing an additional 223 shares during the period. Marshall Financial Group LLC raised its position in Eaton by 13.8% in the third quarter. Marshall Financial Group LLC now owns 2,952 shares of the industrial products company’s stock valued at $978,000 after purchasing an additional 358 shares during the period. Trifecta Capital Advisors LLC raised its position in Eaton by 4.6% in the third quarter. Trifecta Capital Advisors LLC now owns 15,774 shares of the industrial products company’s stock valued at $5,228,000 after purchasing an additional 699 shares during the period. Finally, Bleakley Financial Group LLC raised its position in Eaton by 0.4% in the third quarter. Bleakley Financial Group LLC now owns 13,088 shares of the industrial products company’s stock valued at $4,338,000 after purchasing an additional 54 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.