Eaton (NYSE:ETN) PT Raised to $325.00

Eaton (NYSE:ETN) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $279.00 to $325.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 1.40% from the company’s previous close.

Several other equities research analysts have also recently weighed in on ETN. Citigroup upped their price target on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Evercore ISI upped their price target on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Berenberg Bank upped their price target on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. UBS Group increased their target price on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $286.00 to $371.00 in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $314.27.

Eaton Trading Up 2.0 %

Shares of Eaton stock traded up $6.15 during midday trading on Wednesday, reaching $320.50. 1,764,701 shares of the company’s stock traded hands, compared to its average volume of 2,036,619. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.02 and a current ratio of 1.56. The company has a market cap of $128.14 billion, a PE ratio of 37.84, a price-to-earnings-growth ratio of 2.55 and a beta of 1.06. The stock has a 50 day moving average of $307.97 and a 200-day moving average of $261.18. Eaton has a 12 month low of $165.24 and a 12 month high of $333.05.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.88 earnings per share. As a group, equities analysts expect that Eaton will post 10.42 EPS for the current fiscal year.

Insider Activity

In other news, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the transaction, the insider now directly owns 630 shares of the company’s stock, valued at $171,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the transaction, the insider now directly owns 630 shares of the company’s stock, valued at $171,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the sale, the insider now directly owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock valued at $10,904,774 over the last three months. Insiders own 0.53% of the company’s stock.

Institutional Trading of Eaton

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its position in shares of Eaton by 36.0% in the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock worth $4,248,960,000 after purchasing an additional 5,270,331 shares during the period. Norges Bank bought a new position in shares of Eaton in the fourth quarter worth approximately $1,087,983,000. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Eaton in the third quarter worth approximately $340,500,000. Jennison Associates LLC boosted its position in shares of Eaton by 2,857.4% in the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after purchasing an additional 1,219,790 shares during the period. Finally, Balyasny Asset Management L.P. boosted its position in shares of Eaton by 2,006.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company’s stock worth $232,326,000 after purchasing an additional 918,936 shares during the period. 82.97% of the stock is 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.