Eaton (NYSE:ETN) Given New $326.00 Price Target at Evercore ISI

Eaton (NYSE:ETN) had its target price cut by Evercore ISI from $382.00 to $326.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an in-line rating on the industrial products company’s stock.

Other research analysts also recently issued research reports about the stock. UBS Group initiated coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Melius Research reaffirmed a “hold” rating and set a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Bank of America upped their price objective on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Jefferies Financial Group boosted their target price on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Citigroup decreased their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $366.05.

Eaton Trading Down 1.2 %

Shares of ETN stock opened at $309.31 on Wednesday. The firm has a 50-day moving average price of $334.15 and a 200 day moving average price of $332.04. Eaton has a twelve month low of $255.65 and a twelve month high of $379.99. The company has a market capitalization of $122.24 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 2.64 and a beta of 1.05. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the prior year, the company posted $2.55 earnings per share. Research analysts forecast that Eaton will post 12.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eaton

Institutional investors and hedge funds have recently made changes to their positions in the business. Flagship Wealth Advisors LLC purchased a new position in shares of Eaton during the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton during the 4th quarter valued at approximately $30,000. Horizon Bancorp Inc. IN raised its position in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of Eaton during the 3rd quarter valued at approximately $33,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton during the 4th quarter valued at approximately $33,000. 82.97% of the stock is currently 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.