Posted by admin on Jul 1st, 2022
Eaton (NYSE:ETN – Get Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.
ETN has been the subject of a number of other reports. Royal Bank of Canada lifted their price objective on Eaton from $153.00 to $156.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 2nd. Deutsche Bank Aktiengesellschaft dropped their price objective on Eaton from $176.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, April 14th. The Goldman Sachs Group decreased their target price on Eaton from $175.00 to $146.00 and set a “buy” rating for the company in a report on Thursday, June 23rd. Barclays lowered Eaton from an “equal weight” rating to an “underweight” rating and set a $120.00 target price for the company. in a report on Tuesday, May 24th. Finally, Mizuho decreased their target price on Eaton from $195.00 to $185.00 in a report on Wednesday, May 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $167.73.
ETN stock opened at $125.99 on Wednesday. The business has a fifty day moving average of $138.05 and a two-hundred day moving average of $150.17. The company has a quick ratio of 0.59, a current ratio of 0.99 and a debt-to-equity ratio of 0.41. The stock has a market cap of $50.27 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 1.60 and a beta of 1.16. Eaton has a 52-week low of $123.69 and a 52-week high of $175.72.
Eaton (NYSE:ETN – Get Rating) last posted its earnings results on Tuesday, May 3rd. The industrial products company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.02. Eaton had a return on equity of 16.92% and a net margin of 11.21%. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the firm earned $1.44 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Eaton will post 7.49 EPS for the current year.
In other news, insider Boise April Miller sold 12,283 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $138.66, for a total value of $1,703,160.78. Following the completion of the sale, the insider now directly owns 11,435 shares of the company’s stock, valued at approximately $1,585,577.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of ETN. Financial Management Professionals Inc. increased its position in Eaton by 288.6% in the 1st quarter. Financial Management Professionals Inc. now owns 171 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 127 shares during the period. Hazlett Burt & Watson Inc. acquired a new position in Eaton in the 1st quarter valued at about $30,000. Arlington Partners LLC acquired a new position in Eaton in the 4th quarter valued at about $31,000. Steward Financial Group LLC acquired a new position in Eaton during the 1st quarter worth approximately $32,000. Finally, Baldwin Brothers LLC MA increased its position in Eaton by 63.0% during the 1st quarter. Baldwin Brothers LLC MA now owns 220 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 85 shares during the period. Hedge funds and other institutional investors own 79.10% of the company’s stock.
Eaton Company Profile (Get Rating)
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.
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