Eaton (NYSE:ETN) Price Target Raised to $351.00

Eaton (NYSE:ETN - Get Free Report) had its price target boosted by analysts at Citigroup from $323.00 to $351.00 in a research note issued on Monday, Marketbeat.com reports. The firm presently has a "buy" rating on the industrial products company's stock. Citigroup's price target indicates a potential upside of 13.77% from the company's current price.

A number of other research firms have also weighed in on ETN. Royal Bank of Canada upped their target price on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a report on Monday. Melius Research restated a "hold" rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. JPMorgan Chase & Co. lowered their price target on Eaton from $350.00 to $289.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Barclays decreased their price objective on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a research report on Friday, April 4th. Finally, KeyCorp boosted their price target on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, Eaton has an average rating of "Moderate Buy" and a consensus price target of $361.13.

Eaton Stock Up 2.1 %

Eaton stock traded up $6.32 during trading on Monday, hitting $308.52. 1,342,801 shares of the company were exchanged, compared to its average volume of 2,635,736. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The business's 50 day moving average is $281.59 and its 200 day moving average is $320.81. Eaton has a 52 week low of $231.85 and a 52 week high of $379.99. The company has a market capitalization of $120.87 billion, a P/E ratio of 32.50, a PEG ratio of 2.64 and a beta of 1.14.

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

Insider Buying and Selling

In other news, insider Michael Yelton sold 2,120 shares of the company'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 transaction, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. This represents a 38.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.30% of the stock is owned by insiders.

Institutional Trading of Eaton

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of Eaton by 4.1% during the 3rd quarter. Principal Financial Group Inc. now owns 457,350 shares of the industrial products company's stock valued at $151,584,000 after acquiring an additional 17,965 shares during the period. Neville Rodie & Shaw Inc. lifted its holdings in shares of Eaton by 6.8% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company's stock worth $12,739,000 after acquiring an additional 2,428 shares during the last quarter. Ridgeline Wealth LLC purchased a new position in Eaton during the 4th quarter valued at about $215,000. Regent Peak Wealth Advisors LLC purchased a new position in Eaton in the fourth quarter valued at $532,000. Finally, Park National Corp OH grew its holdings in Eaton by 2.1% during the 4th quarter. Park National Corp OH now owns 2,779 shares of the industrial products company's stock worth $922,000 after acquiring an additional 58 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

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.