Eaton (NYSE:ETN) Price Target Cut to $375.00 by Analysts at Morgan Stanley

Eaton (NYSE:ETN - Get Free Report) had its target price decreased by research analysts at Morgan Stanley from $385.00 to $375.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the industrial products company's stock. Morgan Stanley's price target indicates a potential upside of 25.60% from the company's current price.

Other equities analysts have also recently issued research reports about the stock. Barclays dropped their price target on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a research note on Friday, April 4th. KeyCorp raised their price objective on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Monday. Evercore ISI decreased their price target on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company reissued an "overweight" rating and set a $355.00 price target on shares of Eaton in a report on Monday. Finally, Citigroup lifted their price target on shares of Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a report on Monday. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, Eaton has a consensus rating of "Moderate Buy" and an average target price of $361.13.

Eaton Price Performance

ETN traded down $0.02 during trading on Tuesday, reaching $298.57. The stock had a trading volume of 464,205 shares, compared to its average volume of 2,627,177. The business has a 50-day moving average of $281.24 and a 200-day moving average of $321.09. Eaton has a one year low of $231.85 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market cap of $116.97 billion, a PE ratio of 31.42, a PEG ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the previous year, the company posted $2.40 EPS. Eaton's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts anticipate that Eaton will post 12.02 EPS for the current fiscal year.

Institutional Trading of Eaton

Several institutional investors and hedge funds have recently bought and sold shares of ETN. Capital A Wealth Management LLC purchased a new position in shares of Eaton during the 4th quarter valued at approximately $26,000. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton during the 4th quarter worth approximately $27,000. Creative Financial Designs Inc. ADV raised its position in Eaton by 102.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after acquiring an additional 51 shares during the period. Noble Wealth Management PBC purchased a new stake in shares of Eaton during the fourth quarter worth about $30,000. Finally, Horizon Bancorp Inc. IN raised its position 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. 82.97% of the stock is currently 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.

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