Eaton (NYSE:ETN) Price Target Raised to $464.00

Key Points

• Citigroup raised its price target on Eaton from $435 to $464 and kept a "buy" rating, implying roughly a 16.8% upside from the prior close.
• Analysts hold a Moderate Buy consensus with an average target of $396.50, reflecting 2 Strong Buy, 14 Buy and 5 Hold ratings and mixed but generally positive sentiment.
• Eaton shares traded at $397.21 (down $5.80) with a market cap of $154.1B and a P/E of 37.95, and an insider recently sold 10,707 shares, reducing their stake by about 27.9%.

Eaton (NYSE:ETN - Get Free Report) had its price target raised by Citigroup from $435.00 to $464.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the industrial products company's stock. Citigroup's target price indicates a potential upside of 16.82% from the company's previous close.

Several other research analysts have also issued reports on the stock. Royal Bank Of Canada restated an "outperform" rating and issued a $407.00 price target on shares of Eaton in a research report on Wednesday, February 4th. Wells Fargo & Company decreased their price target on shares of Eaton from $370.00 to $350.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 1st. Sanford C. Bernstein reissued an "outperform" rating on shares of Eaton in a research report on Tuesday, January 27th. BMO Capital Markets initiated coverage on shares of Eaton in a research note on Friday, March 27th. They set an "outperform" rating and a $428.00 target price on the stock. Finally, Jefferies Financial Group assumed coverage on shares of Eaton in a report on Monday, March 16th. They set a "buy" rating and a $430.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $396.50.

Eaton Price Performance

Eaton stock traded down $5.80 during trading hours on Monday, hitting $397.21. 593,689 shares of the company traded hands, compared to its average volume of 2,806,665. The firm has a market cap of $154.11 billion, a P/E ratio of 37.95, a P/E/G ratio of 2.77 and a beta of 1.17. The company has a quick ratio of 0.81, a current ratio of 1.32 and a debt-to-equity ratio of 0.45. The firm's 50-day simple moving average is $368.41 and its two-hundred day simple moving average is $356.29. Eaton has a 1-year low of $255.10 and a 1-year high of $408.45.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The industrial products company reported $3.23 earnings per share for the quarter. The business had revenue of $7.06 billion during the quarter. Eaton had a return on equity of 25.00% and a net margin of 14.89%. As a group, analysts forecast that Eaton will post 12.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Sternadt Paulo Ruiz sold 10,707 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $390.26, for a total transaction of $4,178,513.82. Following the completion of the sale, the insider owned 27,729 shares in the company, valued at $10,821,519.54. This trade represents a 27.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.10% of the company's stock.

Institutional Investors Weigh In On Eaton

Hedge funds have recently made changes to their positions in the company. Hilton Head Capital Partners LLC acquired a new stake in shares of Eaton during the 4th quarter worth about $26,000. Sfam LLC acquired a new position in Eaton in the fourth quarter worth $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Eaton in the fourth quarter worth $28,000. Eagle Bay Advisors LLC acquired a new position in Eaton in the fourth quarter worth $29,000. Finally, WFA of San Diego LLC acquired a new position in Eaton in the second quarter worth $36,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Company Profile

Eaton NYSE: ETN is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company's offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.

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