Eaton (NYSE:ETN) Given New $318.00 Price Target at Barclays

Eaton (NYSE:ETNGet Free Report) had its price objective upped by equities researchers at Barclays from $316.00 to $318.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price objective would suggest a potential downside of 2.72% from the company’s previous close.

Other analysts have also issued research reports about the company. Bank of America increased their target price on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. Wolfe Research reaffirmed an “underperform” rating and issued a $312.00 price target on shares of Eaton in a research note on Monday, April 8th. HSBC upped their price target on shares of Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Argus upped their price target on shares of Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, Raymond James initiated coverage on shares of Eaton in a research note on Friday, June 28th. They issued an “outperform” rating and a $375.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from, the company has an average rating of “Moderate Buy” and an average price target of $319.19.

View Our Latest Analysis on Eaton

Eaton Price Performance

Shares of NYSE:ETN opened at $326.90 on Wednesday. Eaton has a one year low of $191.82 and a one year high of $345.19. The stock has a fifty day moving average of $325.47 and a 200-day moving average of $297.25. The company has a market capitalization of $130.69 billion, a PE ratio of 38.60, a price-to-earnings-growth ratio of 2.68 and a beta of 1.02. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56.

Eaton (NYSE:ETNGet Free Report) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. The company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.88 earnings per share. As a group, equities analysts anticipate that Eaton will post 10.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Eaton news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total transaction of $801,725.44. Following the transaction, the insider now owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. LifeSteps Financial Inc. bought a new stake in shares of Eaton in the 1st quarter valued at $25,000. Atwood & Palmer Inc. increased its holdings in Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 50 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in Eaton during the 4th quarter worth about $25,000. Redmont Wealth Advisors LLC bought a new position in Eaton during the 1st quarter worth about $33,000. Finally, Clear Investment Research LLC bought a new position in shares of Eaton in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

About Eaton

(Get Free Report)

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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