Eaton (NYSE:ETN) PT Raised to $156.00

Eaton (NYSE:ETN) had its price target upped by research analysts at Deutsche Bank Aktiengesellschaft from $139.00 to $156.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 12.67% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Barclays upped their price objective on Eaton from $115.00 to $125.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 6th. Credit Suisse Group boosted their target price on Eaton from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 3rd. Oppenheimer boosted their target price on Eaton from $133.00 to $145.00 in a report on Tuesday, March 2nd. HSBC raised Eaton from a “hold” rating to a “buy” rating and boosted their target price for the company from $103.00 to $140.00 in a report on Tuesday, February 16th. Finally, Zacks Investment Research downgraded Eaton from a “buy” rating to a “hold” rating and set a $150.00 target price for the company. in a report on Tuesday, April 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $136.94.

Shares of NYSE:ETN opened at $138.46 on Monday. Eaton has a 1 year low of $70.54 and a 1 year high of $143.29. The firm has a market capitalization of $55.16 billion, a PE ratio of 40.72, a P/E/G ratio of 2.34 and a beta of 1.12. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.49 and a quick ratio of 1.13. The business’s 50 day moving average price is $138.36 and its 200-day moving average price is $122.74.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Monday, February 1st. The industrial products company reported $1.28 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.08. Eaton had a return on equity of 11.94% and a net margin of 7.53%. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.62 billion. During the same quarter last year, the business posted $1.37 earnings per share. The firm’s revenue was down 10.5% compared to the same quarter last year. As a group, analysts expect that Eaton will post 4.17 earnings per share for the current year.

In other Eaton news, insider Uday Yadav sold 2,213 shares of the business’s stock in a transaction on Friday, March 5th. The shares were sold at an average price of $135.12, for a total transaction of $299,020.56. Also, insider Brian S. Brickhouse sold 22,758 shares of the business’s stock in a transaction on Wednesday, March 3rd. The stock was sold at an average price of $135.80, for a total transaction of $3,090,536.40. Following the transaction, the insider now directly owns 15,587 shares of the company’s stock, valued at approximately $2,116,714.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,740 shares of company stock worth $4,945,066. 0.54% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the business. Intersect Capital LLC acquired a new stake in Eaton in the first quarter worth $222,000. Piscataqua Savings Bank bought a new position in shares of Eaton in the 1st quarter valued at about $86,000. InTrack Investment Management Inc bought a new position in shares of Eaton in the 1st quarter valued at about $595,000. Andesa Financial Management Inc. grew its position in shares of Eaton by 90.3% in the 1st quarter. Andesa Financial Management Inc. now owns 63,003 shares of the industrial products company’s stock valued at $8,712,000 after acquiring an additional 29,900 shares during the period. Finally, Bangor Savings Bank grew its position in shares of Eaton by 1.9% in the 1st quarter. Bangor Savings Bank now owns 13,632 shares of the industrial products company’s stock valued at $1,885,000 after acquiring an additional 256 shares during the period. 77.88% of the stock is currently owned by hedge funds and other institutional investors.

About Eaton

Eaton Corporation plc operates as a power management company. Its Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services in North and South America, as well as hazardous duty electrical, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems internationally.

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