Eaton (NYSE:ETN) Given New $185.00 Price Target at Mizuho

Eaton (NYSE:ETNGet Rating) had its price objective cut by equities research analysts at Mizuho from $195.00 to $185.00 in a research note issued on Wednesday, The Fly reports. Mizuho’s price objective would indicate a potential upside of 26.21% from the company’s previous close.

Several other analysts have also recently issued reports on ETN. Credit Suisse Group cut their price target on shares of Eaton from $187.00 to $179.00 in a report on Wednesday. Robert W. Baird upped their price target on shares of Eaton from $150.00 to $155.00 in a report on Tuesday. StockNews.com raised shares of Eaton from a “hold” rating to a “buy” rating in a report on Tuesday. Morgan Stanley cut their price target on shares of Eaton from $195.00 to $180.00 and set an “overweight” rating on the stock in a report on Tuesday, March 1st. Finally, Zacks Investment Research raised shares of Eaton from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Wednesday, January 5th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $173.50.

Shares of ETN stock opened at $146.58 on Wednesday. The company has a market capitalization of $58.57 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 1.77 and a beta of 1.15. The firm has a fifty day simple moving average of $148.98 and a 200-day simple moving average of $159.35. The company has a current ratio of 1.04, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42. Eaton has a twelve month low of $139.12 and a twelve month high of $175.72.

Eaton (NYSE:ETNGet Rating) last announced its earnings results on Tuesday, May 3rd. The industrial products company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.02. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.78 billion. Eaton had a net margin of 10.92% and a return on equity of 16.90%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. Equities research analysts predict that Eaton will post 7.47 EPS for the current year.

In related news, Director Sandra Pianalto bought 243 shares of the firm’s stock in a transaction that occurred on Tuesday, February 8th. The stock was purchased at an average price of $151.58 per share, for a total transaction of $36,833.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joao V. Faria sold 11,852 shares of the stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $150.00, for a total transaction of $1,777,800.00. The disclosure for this sale can be found here. 0.56% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in ETN. Ellsworth Advisors LLC boosted its position in shares of Eaton by 16.9% during the 4th quarter. Ellsworth Advisors LLC now owns 23,136 shares of the industrial products company’s stock valued at $3,998,000 after purchasing an additional 3,347 shares in the last quarter. MTM Investment Management LLC boosted its position in shares of Eaton by 34.2% during the 4th quarter. MTM Investment Management LLC now owns 2,355 shares of the industrial products company’s stock valued at $407,000 after purchasing an additional 600 shares in the last quarter. New England Research & Management Inc. bought a new position in shares of Eaton during the 4th quarter valued at about $212,000. CIBC Asset Management Inc boosted its position in shares of Eaton by 4.3% during the 4th quarter. CIBC Asset Management Inc now owns 37,868 shares of the industrial products company’s stock valued at $6,544,000 after purchasing an additional 1,559 shares in the last quarter. Finally, Atria Investments LLC boosted its holdings in shares of Eaton by 27.3% in the third quarter. Atria Investments LLC now owns 42,837 shares of the industrial products company’s stock worth $6,396,000 after buying an additional 9,181 shares during the period. Hedge funds and other institutional investors own 79.10% of the company’s stock.

Eaton Company Profile (Get Rating)

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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