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

Eaton (NYSE:ETN) had its price objective hoisted by investment analysts at Mizuho from $355.00 to $365.00 in a report released on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Mizuho’s price target would suggest a potential upside of 4.83% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group increased their target price on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Raymond James decreased their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Morgan Stanley assumed coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 target price for the company. Wells Fargo & Company lifted their price objective on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Evercore ISI cut their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $340.06.

Eaton Trading Down 0.1 %

ETN opened at $348.17 on Thursday. Eaton has a 52 week low of $191.82 and a 52 week high of $349.74. 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 fifty day simple moving average of $314.01 and a 200-day simple moving average of $316.67. The firm has a market cap of $139.20 billion, a P/E ratio of 41.11, a P/E/G ratio of 2.58 and a beta of 1.02.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The company had revenue of $6.35 billion during 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%. On average, equities analysts expect that Eaton will post 10.75 earnings per share for the current year.

Insider Activity

In other news, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction that occurred 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 in the company, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the sale, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eaton

Several institutional investors have recently bought and sold shares of the company. Strategic Wealth Partners Ltd. increased its stake in shares of Eaton by 3.0% during the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after acquiring an additional 30 shares during the period. Legacy Capital Group California Inc. increased its position in Eaton by 1.2% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock worth $870,000 after purchasing an additional 32 shares during the period. Well Done LLC raised its stake in shares of Eaton by 1.3% during the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after buying an additional 33 shares in the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of Eaton by 1.7% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,053 shares of the industrial products company’s stock valued at $644,000 after buying an additional 35 shares during the period. Finally, Front Row Advisors LLC boosted its stake in shares of Eaton by 0.4% in the second quarter. Front Row Advisors LLC now owns 7,842 shares of the industrial products company’s stock valued at $2,459,000 after buying an additional 35 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

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.