Credit Suisse Group reaffirmed their outperform rating on shares of Eaton (NYSE:ETN) in a report published on Thursday, January 3rd, The Fly reports. The firm currently has a $80.00 price target on the industrial products company’s stock, down from their previous price target of $85.00.
A number of other equities research analysts have also recently commented on the stock. Stephens began coverage on shares of Eaton in a research note on Monday, November 19th. They set an overweight rating and a $96.00 price objective on the stock. Citigroup dropped their price objective on shares of Eaton from $92.00 to $88.00 and set a buy rating on the stock in a research note on Friday, November 2nd. Barclays reaffirmed an underweight rating and set a $75.00 price objective (down previously from $77.00) on shares of Eaton in a research note on Thursday, November 1st. UBS Group set a $97.00 price objective on shares of Eaton and gave the stock a buy rating in a research note on Wednesday, October 31st. Finally, Morgan Stanley dropped their price objective on shares of Eaton from $94.00 to $80.00 and set a hold rating on the stock in a research note on Wednesday, October 31st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $85.94.
Shares of NYSE:ETN opened at $70.22 on Thursday. The company has a market capitalization of $29.93 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 1.15 and a beta of 1.44. Eaton has a twelve month low of $64.46 and a twelve month high of $89.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.96 and a current ratio of 1.49.
Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $1.43 EPS for the quarter, hitting analysts’ consensus estimates of $1.43. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.49 billion. Eaton had a net margin of 10.06% and a return on equity of 13.48%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. On average, analysts forecast that Eaton will post 5.35 earnings per share for the current year.
Several large investors have recently made changes to their positions in ETN. Highwater Wealth Management LLC purchased a new position in Eaton in the 4th quarter valued at $26,000. Moody National Bank Trust Division lifted its holdings in Eaton by 37.5% in the 4th quarter. Moody National Bank Trust Division now owns 1,217 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 332 shares in the last quarter. Buckingham Capital Management Inc. lifted its holdings in Eaton by 3.0% in the 3rd quarter. Buckingham Capital Management Inc. now owns 13,840 shares of the industrial products company’s stock valued at $1,200,000 after purchasing an additional 401 shares in the last quarter. Advisor Partners LLC lifted its holdings in Eaton by 6.6% in the 3rd quarter. Advisor Partners LLC now owns 11,518 shares of the industrial products company’s stock valued at $999,000 after purchasing an additional 715 shares in the last quarter. Finally, Andesa Financial Management Inc. lifted its holdings in Eaton by 3.5% in the 2nd quarter. Andesa Financial Management Inc. now owns 21,750 shares of the industrial products company’s stock valued at $1,623,000 after purchasing an additional 740 shares in the last quarter. Hedge funds and other institutional investors own 77.21% of the company’s stock.
Eaton Company Profile
Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
Recommended Story: What is a stock buyback?
Receive News & Ratings for Eaton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton and related companies with MarketBeat.com's FREE daily email newsletter.