Eaton (NYSE:ETN) has been given a $97.00 price target by analysts at UBS Group in a research report issued to clients and investors on Wednesday, www.stocktargetadvisor.com reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. UBS Group’s price target suggests a potential upside of 31.53% from the stock’s current price.
Other analysts have also recently issued reports about the company. Deutsche Bank boosted their price target on Eaton from $92.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, August 16th. Zacks Investment Research cut Eaton from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Barclays boosted their price target on Eaton from $71.00 to $77.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 1st. Gordon Haskett assumed coverage on Eaton in a research report on Friday, October 12th. They set a “sell” rating for the company. Finally, ValuEngine upgraded Eaton from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $86.53.
Shares of ETN opened at $73.75 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.49 and a quick ratio of 0.96. Eaton has a one year low of $67.70 and a one year high of $89.85. The company has a market cap of $30.48 billion, a P/E ratio of 15.86, a PEG ratio of 1.28 and a beta of 1.36.
Eaton (NYSE:ETN) last issued its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $1.43 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.43. Eaton had a return on equity of 13.48% and a net margin of 10.06%. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.49 billion. During the same period in the previous year, the business earned $1.25 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities analysts predict that Eaton will post 5.36 EPS for the current year.
In other Eaton news, insider Revathi Advaithi sold 15,500 shares of the company’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $82.98, for a total value of $1,286,190.00. Following the completion of the sale, the insider now directly owns 24,715 shares in the company, valued at approximately $2,050,850.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Richard H. Fearon sold 25,000 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $83.29, for a total value of $2,082,250.00. Following the completion of the sale, the insider now owns 221,459 shares of the company’s stock, valued at $18,445,320.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,000 shares of company stock valued at $4,617,645. 0.50% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. Chicago Equity Partners LLC acquired a new position in shares of Eaton in the 3rd quarter valued at $440,000. Andesa Financial Management Inc. lifted its stake in shares of Eaton by 4.9% in the 3rd quarter. Andesa Financial Management Inc. now owns 22,805 shares of the industrial products company’s stock valued at $1,980,000 after purchasing an additional 1,055 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Eaton by 2.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 41,550 shares of the industrial products company’s stock valued at $3,601,000 after purchasing an additional 1,016 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of Eaton by 3.7% in the 3rd quarter. Synovus Financial Corp now owns 112,386 shares of the industrial products company’s stock valued at $9,755,000 after purchasing an additional 3,992 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in shares of Eaton by 279.4% in the 3rd quarter. Sterling Capital Management LLC now owns 155,049 shares of the industrial products company’s stock valued at $13,447,000 after purchasing an additional 114,185 shares during the last quarter. 77.79% of the stock is currently owned by institutional investors and hedge funds.
Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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