Evercore ISI Issues Pessimistic Forecast for Eaton (NYSE:ETN) Stock Price

Eaton (NYSE:ETN) had its target price lowered by Evercore ISI from $382.00 to $326.00 in a research report sent to investors on Wednesday,Benzinga reports. Evercore ISI currently has an in-line rating on the industrial products company’s stock.

ETN has been the topic of a number of other reports. Bank of America raised their price target on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. UBS Group initiated coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price for the company. Barclays increased their price objective on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Citigroup reduced their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Jefferies Financial Group increased their price objective on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $366.05.

Eaton Price Performance

Shares of NYSE ETN opened at $309.31 on Wednesday. Eaton has a 1-year low of $255.65 and a 1-year high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The business’s fifty day moving average price is $334.15 and its two-hundred day moving average price is $332.04. The firm has a market capitalization of $122.24 billion, a PE ratio of 32.56, a P/E/G ratio of 2.64 and a beta of 1.05.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the firm earned $2.55 EPS. On average, research analysts expect that Eaton will post 12.03 EPS for the current year.

Insider Buying and Selling

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Eaton by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company’s stock worth $12,351,506,000 after buying an additional 99,291 shares during the period. FMR LLC increased its position in shares of Eaton by 1.2% during the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company’s stock valued at $5,051,807,000 after purchasing an additional 182,455 shares during the period. Geode Capital Management LLC increased its position in shares of Eaton by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company’s stock valued at $2,714,677,000 after purchasing an additional 129,071 shares during the period. Nuveen Asset Management LLC increased its position in shares of Eaton by 4.3% during the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company’s stock valued at $1,550,226,000 after purchasing an additional 192,482 shares during the period. Finally, Northern Trust Corp increased its position in shares of Eaton by 8.8% during the fourth quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company’s stock valued at $1,518,207,000 after purchasing an additional 368,241 shares during the period. 82.97% of the stock is owned by institutional investors.

Eaton Company Profile

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.