Eaton (NYSE:ETN) Stock Rating Lowered by Melius

Melius lowered shares of Eaton (NYSE:ETN) from a buy rating to a hold rating in a research report released on Tuesday, Marketbeat Ratings reports. The brokerage currently has $373.00 price objective on the industrial products company’s stock.

Other equities research analysts have also issued research reports about the stock. Mizuho boosted their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Citigroup dropped their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Barclays lifted their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company decreased their price target on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $369.30.

Eaton Stock Up 3.0 %

ETN stock opened at $327.08 on Tuesday. The business’s 50-day simple moving average is $351.13 and its 200 day simple moving average is $331.12. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The company has a market cap of $129.26 billion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. Eaton has a twelve month low of $245.65 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.47 earnings per share. On average, research analysts anticipate that Eaton will post 10.79 earnings per share for the current year.

Insiders Place Their Bets

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the transaction, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 72,981 shares of company stock valued at $26,318,917. 0.53% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eaton

Large investors have recently bought and sold shares of the company. Horizon Bancorp Inc. IN grew its holdings in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares during the period. Morse Asset Management Inc bought a new position in Eaton during the third quarter worth about $33,000. Activest Wealth Management grew its stake in Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 87 shares during the period. West Financial Advisors LLC bought a new stake in shares of Eaton in the third quarter worth about $35,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Eaton during the third quarter worth about $37,000. Institutional investors 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.