Rothschild & Co Redburn Initiates Coverage on Eaton (NYSE:ETN)

Key Points

• Rothschild & Co Redburn has initiated coverage on Eaton (NYSE:ETN) with a neutral rating and a price target of $336.00, indicating a potential downside of 3.61% from its current price.
• In a positive outlook, KeyCorp and Citigroup raised their price targets on Eaton, with KeyCorp now at $410.00 and Citigroup at $425.00, showing strong institutional support for the stock.
• Eaton's latest financial results showed an EPS of $2.95, exceeding analyst estimates and reflecting a year-over-year revenue increase of 10.7%.

Equities researchers at Rothschild & Co Redburn initiated coverage on shares of Eaton (NYSE:ETN - Get Free Report) in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage set a "neutral" rating and a $336.00 price target on the industrial products company's stock. Rothschild & Co Redburn's target price suggests a potential downside of 3.61% from the stock's current price.

A number of other equities analysts also recently commented on ETN. KeyCorp raised their price objective on shares of Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Evercore ISI raised their price objective on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Barclays lifted their price target on shares of Eaton from $340.00 to $344.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. lifted 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. Finally, Citigroup lifted their price target on shares of Eaton from $420.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $379.10.

Eaton Stock Performance

NYSE ETN opened at $348.5720 on Wednesday. The company's fifty day moving average is $359.15 and its two-hundred day moving average is $319.09. The firm has a market capitalization of $135.70 billion, a price-to-earnings ratio of 35.07, a P/E/G ratio of 2.61 and a beta of 1.18. Eaton has a 52-week low of $231.85 and a 52-week high of $399.56. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 0.76.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $2.92 by $0.03. The company had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $6.93 billion. Eaton had a net margin of 15.11% and a return on equity of 23.91%. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $2.73 EPS. Eaton has set its Q3 2025 guidance at 3.010-3.070 EPS. FY 2025 guidance at 11.970-12.170 EPS. Equities research analysts forecast that Eaton will post 12.02 EPS for the current year.

Insiders Place Their Bets

In other Eaton news, insider Olivier Leonetti sold 16,018 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $358.39, for a total value of $5,740,691.02. Following the completion of the sale, the insider owned 630 shares in the company, valued at approximately $225,785.70. This trade represents a 96.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On Eaton

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Eaton by 0.8% during 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 buying an additional 289,819 shares during the period. Nuveen LLC acquired a new stake in shares of Eaton during the 1st quarter worth approximately $1,472,231,000. Nuveen Asset Management LLC grew its position in shares of Eaton by 4.3% during the 4th 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. Northern Trust Corp grew its position in shares of Eaton by 8.8% during the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock worth $1,518,207,000 after buying an additional 368,241 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Eaton by 12.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,985,735 shares of the industrial products company's stock worth $1,083,442,000 after buying an additional 427,509 shares during the period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.