Posted by admin on Jul 10th, 2022
Eaton (NYSE:ETN – Get Rating) had its target price lowered by equities research analysts at Barclays from $120.00 to $112.00 in a report released on Friday, The Fly reports. The firm currently has an “underweight” rating on the industrial products company’s stock. Barclays‘s price target suggests a potential downside of 12.38% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Eaton from a “hold” rating to a “buy” rating in a research note on Friday. Citigroup lowered their target price on shares of Eaton from $180.00 to $150.00 in a research note on Thursday. Robert W. Baird lifted their price target on Eaton from $150.00 to $155.00 in a research note on Tuesday, May 3rd. Morgan Stanley reduced their price target on Eaton from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Tuesday, May 31st. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Eaton from $176.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, April 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $164.87.
NYSE:ETN opened at $127.82 on Friday. The firm’s fifty day moving average is $135.87 and its two-hundred day moving average is $148.43. The firm has a market cap of $51.00 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 1.57 and a beta of 1.15. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.59 and a current ratio of 0.99. Eaton has a one year low of $123.18 and a one year high of $175.72.
Eaton (NYSE:ETN – Get Rating) last issued its earnings results on Tuesday, May 3rd. The industrial products company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.78 billion. Eaton had a return on equity of 16.92% and a net margin of 11.21%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.44 earnings per share. As a group, equities research analysts predict that Eaton will post 7.49 earnings per share for the current fiscal year.
In other news, insider Boise April Miller sold 12,283 shares of the firm’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $138.66, for a total value of $1,703,160.78. Following the transaction, the insider now directly owns 11,435 shares of the company’s stock, valued at $1,585,577.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.56% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of ETN. Vanguard Group Inc. boosted its stake in Eaton by 1.5% during the first quarter. Vanguard Group Inc. now owns 34,526,905 shares of the industrial products company’s stock worth $5,239,803,000 after buying an additional 500,438 shares during the last quarter. BlackRock Inc. increased its position in Eaton by 5.5% during the first quarter. BlackRock Inc. now owns 27,959,368 shares of the industrial products company’s stock worth $4,243,113,000 after purchasing an additional 1,449,671 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Eaton by 3.5% during the first quarter. JPMorgan Chase & Co. now owns 26,578,334 shares of the industrial products company’s stock worth $4,033,527,000 after purchasing an additional 900,550 shares during the period. State Street Corp boosted its holdings in Eaton by 0.7% in the 4th quarter. State Street Corp now owns 16,615,642 shares of the industrial products company’s stock valued at $2,871,515,000 after purchasing an additional 115,947 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Eaton by 5.6% in the 1st quarter. Bank of America Corp DE now owns 14,218,498 shares of the industrial products company’s stock valued at $2,157,799,000 after buying an additional 752,368 shares during the period. 79.10% of the stock is owned by hedge funds and other institutional investors.
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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