Eaton (NYSE:ETN) PT Raised to $365.00 at Mizuho

Eaton (NYSE:ETN) had its price objective lifted by investment analysts at Mizuho from $355.00 to $365.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Mizuho’s price target suggests a potential upside of 7.01% from the company’s current price.

ETN has been the subject of several other research reports. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Royal Bank of Canada lowered their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Jefferies Financial Group increased their price objective on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Evercore ISI lowered their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Finally, Citigroup initiated coverage on Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective for the company. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $340.06.

Eaton Price Performance

Shares of Eaton stock opened at $341.10 on Thursday. The business has a 50 day simple moving average of $311.66 and a two-hundred day simple moving average of $316.19. Eaton has a 12 month low of $191.82 and a 12 month high of $347.35. The stock has a market capitalization of $136.37 billion, a P/E ratio of 40.27, a PEG ratio of 2.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. As a group, analysts predict that Eaton will post 10.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock valued at $15,809,326 in the last three months. 0.53% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Kapitalo Investimentos Ltda lifted its holdings in shares of Eaton by 220.8% in the 4th quarter. Kapitalo Investimentos Ltda now owns 340 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 234 shares during the last quarter. Wedmont Private Capital lifted its holdings in shares of Eaton by 1.9% in the 1st quarter. Wedmont Private Capital now owns 4,332 shares of the industrial products company’s stock valued at $1,360,000 after purchasing an additional 81 shares during the last quarter. KMG Fiduciary Partners LLC purchased a new stake in shares of Eaton in the 1st quarter valued at about $278,000. Park Avenue Securities LLC raised its stake in Eaton by 4.3% during the 1st quarter. Park Avenue Securities LLC now owns 13,302 shares of the industrial products company’s stock valued at $4,159,000 after acquiring an additional 548 shares during the last quarter. Finally, Aprio Wealth Management LLC purchased a new stake in Eaton during the 1st quarter valued at approximately $211,000. 82.97% of the stock is owned by institutional investors and hedge funds.

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.