KeyCorp Boosts Eaton (NYSE:ETN) Price Target to $355.00

Eaton (NYSE:ETN - Get Free Report) had its price objective hoisted by equities researchers at KeyCorp from $325.00 to $355.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the industrial products company's stock. KeyCorp's price objective would suggest a potential upside of 18.49% from the company's previous close.

Several other research firms have also recently issued reports on ETN. JPMorgan Chase & Co. decreased their target price on shares of Eaton from $350.00 to $289.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Melius lowered Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price on the stock. in a research report on Tuesday, January 28th. Citigroup dropped their target price on shares of Eaton from $396.00 to $323.00 and set a "buy" rating for the company in a research report on Monday, April 14th. StockNews.com raised shares of Eaton from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. Finally, Evercore ISI reduced their price target on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $356.81.

Eaton Price Performance

Eaton stock traded up $0.94 during mid-day trading on Monday, reaching $299.61. The company had a trading volume of 339,166 shares, compared to its average volume of 2,627,201. The stock's 50-day simple moving average is $281.21 and its 200-day simple moving average is $321.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market capitalization of $117.38 billion, a P/E ratio of 31.53, a P/E/G ratio of 2.64 and a beta of 1.14. Eaton has a 1 year low of $231.85 and a 1 year high of $379.99.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. The firm had revenue of $6.38 billion for 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%. Eaton's revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.40 EPS. On average, equities analysts predict that Eaton will post 12.02 EPS for the current year.

Institutional Trading of Eaton

A number of hedge funds have recently bought and sold shares of ETN. Norges Bank acquired a new position in Eaton in the 4th quarter worth approximately $1,495,582,000. GAMMA Investing LLC raised its position in Eaton by 27,281.9% during the first quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock valued at $976,772,000 after buying an additional 3,580,198 shares during the period. Capital International Investors acquired a new position in Eaton during the fourth quarter valued at $523,541,000. Proficio Capital Partners LLC boosted its position in Eaton by 42,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company's stock worth $243,036,000 after acquiring an additional 730,594 shares during the period. Finally, Leigh Baldwin & CO. LLC purchased a new position in Eaton during the 4th quarter valued at about $231,552,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

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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