Eaton (NYSE:ETN) had its target price upped by Credit Suisse Group from $158.00 to $163.00 in a note issued to investors on Thursday, The Fly reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Credit Suisse Group’s price target points to a potential upside of 11.36% from the company’s previous close.
ETN has been the subject of several other research reports. Barclays lifted their price objective on Eaton from $115.00 to $125.00 and gave the stock an “underweight” rating in a report on Tuesday, April 6th. Morgan Stanley boosted their price target on Eaton from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, May 5th. Robert W. Baird boosted their price target on Eaton from $140.00 to $151.00 and gave the company a “neutral” rating in a report on Tuesday, May 4th. Oppenheimer boosted their price target on Eaton from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, May 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Eaton from $139.00 to $156.00 and gave the company a “buy” rating in a report on Tuesday, April 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $149.59.
Shares of ETN opened at $146.37 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.51 and a debt-to-equity ratio of 0.58. Eaton has a one year low of $82.44 and a one year high of $149.38. The company has a market capitalization of $58.33 billion, a price-to-earnings ratio of 41.12, a P/E/G ratio of 2.13 and a beta of 1.14. The business has a fifty day moving average price of $144.30.
Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, May 4th. The industrial products company reported $1.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.19. Eaton had a return on equity of 12.55% and a net margin of 8.05%. The company had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same quarter in the previous year, the company posted $1.09 earnings per share. Eaton’s revenue was down 1.9% compared to the same quarter last year. On average, research analysts anticipate that Eaton will post 6.25 earnings per share for the current fiscal year.
In other Eaton news, insider Nandakumar Cheruvatath sold 6,400 shares of the business’s stock in a transaction that occurred on Wednesday, June 2nd. The stock was sold at an average price of $146.56, for a total transaction of $937,984.00. Following the sale, the insider now directly owns 27,161 shares of the company’s stock, valued at $3,980,716.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian S. Brickhouse sold 7,659 shares of the company’s stock in a transaction that occurred on Friday, May 14th. The shares were sold at an average price of $148.16, for a total value of $1,134,757.44. Following the transaction, the insider now directly owns 18,235 shares in the company, valued at approximately $2,701,697.60. The disclosure for this sale can be found here. Insiders sold 28,313 shares of company stock worth $4,159,670 over the last quarter. 0.53% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in ETN. Oder Investment Management LLC bought a new position in Eaton in the fourth quarter worth approximately $25,000. Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Eaton during the 1st quarter valued at $29,000. Charter Oak Capital Management LLC purchased a new stake in shares of Eaton during the 4th quarter valued at $30,000. TCI Wealth Advisors Inc. lifted its holdings in shares of Eaton by 110.8% during the 1st quarter. TCI Wealth Advisors Inc. now owns 215 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 113 shares during the last quarter. Finally, First Command Bank purchased a new stake in shares of Eaton during the 1st quarter valued at $39,000. 78.06% of the stock is currently owned by institutional investors.
About Eaton
Eaton Corporation plc operates as a power management company. Its Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services in North and South America, as well as hazardous duty electrical, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems internationally.
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