Eaton (NYSE:ETN) Stock Price Expected to Rise, Barclays Analyst Says

Eaton (NYSE:ETN - Get Free Report) had its price target lifted by investment analysts at Barclays from $306.00 to $323.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the industrial products company's stock. Barclays's target price indicates a potential downside of 1.76% from the stock's current price.

ETN has been the subject of several other research reports. KeyCorp upped their target price on Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. Royal Bank of Canada lifted their price objective on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Morgan Stanley decreased their target price on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Eaton has an average rating of "Moderate Buy" and a consensus price target of $368.78.

Eaton Trading Down 0.8%

ETN stock traded down $2.66 during midday trading on Monday, reaching $328.79. 609,151 shares of the company's stock traded hands, compared to its average volume of 2,641,574. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The business has a 50-day moving average price of $298.11 and a two-hundred day moving average price of $315.95. The company has a market capitalization of $128.66 billion, a P/E ratio of 34.61, a PEG ratio of 2.64 and a beta of 1.16.

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

Insider Activity at Eaton

In related news, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider now owns 3,382 shares of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider now owns 490,208 shares in the company, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 156,660 shares of company stock valued at $49,622,894. Corporate insiders own 0.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ETN. Vanguard Group Inc. increased its holdings in shares of Eaton by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 37,507,725 shares of the industrial products company's stock worth $10,195,725,000 after acquiring an additional 289,819 shares during the period. FMR LLC grew its position in Eaton by 1.2% in the 4th quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock worth $5,051,807,000 after purchasing an additional 182,455 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Eaton by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock valued at $2,714,677,000 after purchasing an additional 129,071 shares during the period. Nuveen LLC bought a new stake in shares of Eaton during the first quarter valued at approximately $1,472,231,000. Finally, Nuveen Asset Management LLC boosted its position in shares of Eaton by 4.3% during the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock worth $1,550,226,000 after buying an additional 192,482 shares during the period. 82.97% of the stock is currently owned by institutional investors.

About Eaton

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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