Wells Fargo & Company Increases Eaton (NYSE:ETN) Price Target to $169.00

Eaton (NYSE:ETN – Get Rating) had its target price raised by equities researchers at Wells Fargo & Company from $163.00 to $169.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 8.67% from the stock’s previous close.

ETN has been the topic of a number of other reports. Morgan Stanley lifted their price objective on shares of Eaton from $174.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, January 6th. Mizuho lifted their price objective on shares of Eaton from $160.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, January 13th. StockNews.com upgraded shares of Eaton from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Eaton from $160.00 to $176.00 in a research note on Wednesday, November 2nd. Finally, Barclays lifted their target price on Eaton from $124.00 to $130.00 and gave the stock an “underweight” rating in a report on Thursday, January 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $163.92.

Eaton Stock Performance

ETN stock opened at $155.51 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.77 and a current ratio of 1.28. The stock has a market capitalization of $61.85 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.83 and a beta of 1.16. Eaton has a 1 year low of $122.50 and a 1 year high of $167.51. The stock’s fifty day moving average is $160.16 and its two-hundred day moving average is $148.22.

Eaton (NYSE:ETN – Get Rating) last posted its earnings results on Tuesday, November 1st. The industrial products company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.01. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Eaton had a return on equity of 17.66% and a net margin of 11.36%. On average, research analysts predict that Eaton will post 7.56 EPS for the current year.

Insider Activity

In other news, insider Brian S. Brickhouse sold 27,438 shares of the company’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $155.76, for a total value of $4,273,742.88. Following the transaction, the insider now owns 28,131 shares in the company, valued at approximately $4,381,684.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eaton

Large investors have recently made changes to their positions in the business. Carolinas Wealth Consulting LLC increased its holdings in Eaton by 4,183.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 11,136 shares of the industrial products company’s stock worth $44,000 after buying an additional 10,876 shares during the last quarter. DAVENPORT & Co LLC increased its holdings in Eaton by 5.1% in the second quarter. DAVENPORT & Co LLC now owns 21,723 shares of the industrial products company’s stock worth $2,737,000 after buying an additional 1,057 shares during the last quarter. Centaurus Financial Inc. increased its holdings in Eaton by 5.4% in the second quarter. Centaurus Financial Inc. now owns 1,572 shares of the industrial products company’s stock worth $198,000 after buying an additional 81 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Eaton by 7.5% in the second quarter. Geneos Wealth Management Inc. now owns 3,854 shares of the industrial products company’s stock worth $490,000 after buying an additional 268 shares during the last quarter. Finally, CWM LLC increased its holdings in Eaton by 36.0% in the second quarter. CWM LLC now owns 7,471 shares of the industrial products company’s stock worth $941,000 after buying an additional 1,979 shares during the last quarter. Institutional investors and hedge funds own 80.19% of the company’s stock.

Eaton Company Profile

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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.