Eaton (NYSE:ETN) Given New $405.00 Price Target at Royal Bank of Canada

Eaton (NYSE:ETN) had its price objective trimmed by Royal Bank of Canada from $407.00 to $405.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

Several other analysts also recently commented on ETN. Citigroup reduced their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. Barclays upped their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. UBS Group assumed coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Finally, Melius Research restated a “hold” rating and set a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $369.20.

Eaton Price Performance

Shares of ETN opened at $315.74 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton has a 1-year low of $255.65 and a 1-year high of $379.99. The stock has a market cap of $124.78 billion, a PE ratio of 33.24, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06. The firm has a fifty day moving average price of $349.23 and a 200 day moving average price of $331.21.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period in the previous year, the firm posted $2.55 earnings per share. As a group, sell-side analysts anticipate that Eaton will post 12 EPS for the current year.

Insider Activity

In other news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were 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 of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,981 shares of company stock worth $26,318,917 over the last 90 days. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eaton

A number of institutional investors have recently made changes to their positions in ETN. Groupama Asset Managment increased its position in Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN boosted its stake 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 worth $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton in the third quarter valued at approximately $33,000. Activest Wealth Management lifted its stake in shares of Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after buying an additional 87 shares during the period. Finally, West Financial Advisors LLC acquired a new stake in Eaton during the third quarter worth approximately $35,000. 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.