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

Eaton (NYSE:ETN - Get Free Report) had its price target upped by equities researchers at Evercore ISI from $326.00 to $349.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "in-line" rating on the industrial products company's stock. Evercore ISI's price objective points to a potential upside of 8.28% from the stock's previous close.

ETN has been the subject of several other reports. KeyCorp boosted their price objective on shares of Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a report on Monday, May 5th. BNP Paribas Exane assumed coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. Melius Research restated a "hold" rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Melius cut Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. Finally, Barclays dropped their target price on Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a research report on Friday, April 4th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and an average price target of $367.83.

Eaton Stock Down 1.8%

Eaton stock traded down $5.94 during mid-day trading on Monday, reaching $322.32. The stock had a trading volume of 1,725,508 shares, compared to its average volume of 2,662,667. The company has a market capitalization of $126.12 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 2.64 and a beta of 1.14. The company has a 50-day moving average price of $289.60 and a two-hundred day moving average price of $319.51. 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 current ratio of 1.50 and a quick ratio of 0.96.

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

Insider Activity at Eaton

In other Eaton news, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total value of $15,593,423.22. Following the sale, the insider now owns 489,444 shares of the company's stock, valued at $149,490,880.92. The trade was a 9.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is owned by company insiders.

Institutional Trading of Eaton

A number of large investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its stake in Eaton by 10.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,913 shares of the industrial products company's stock worth $792,000 after acquiring an additional 281 shares during the last quarter. Belpointe Asset Management LLC increased its stake in Eaton by 2.5% in the 1st quarter. Belpointe Asset Management LLC now owns 2,906 shares of the industrial products company's stock worth $791,000 after acquiring an additional 71 shares during the last quarter. Focus Partners Wealth increased its stake in Eaton by 41.1% in the 1st quarter. Focus Partners Wealth now owns 81,444 shares of the industrial products company's stock worth $22,140,000 after acquiring an additional 23,736 shares during the last quarter. Integrity Alliance LLC. bought a new stake in Eaton in the 1st quarter worth approximately $638,000. Finally, Ransom Advisory Ltd purchased a new position in shares of Eaton in the 1st quarter worth approximately $3,388,000. Institutional investors own 82.97% of the company's stock.

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.