Eaton (NYSE:ETN) Announces Earnings Results

Eaton (NYSE:ETN) announced its quarterly earnings data on Thursday. The industrial products company reported $3.23 earnings per share (EPS) for the quarter, FiscalAI reports. Eaton had a net margin of 14.89% and a return on equity of 25.00%.

Eaton Stock Performance

ETN stock traded up $0.81 during midday trading on Thursday, hitting $374.34. 1,219,621 shares of the company traded hands, compared to its average volume of 3,038,786. Eaton has a twelve month low of $231.85 and a twelve month high of $408.45. The stock has a market capitalization of $145.39 billion, a price-to-earnings ratio of 35.79, a price-to-earnings-growth ratio of 2.58 and a beta of 1.20. The company has a quick ratio of 0.81, a current ratio of 1.32 and a debt-to-equity ratio of 0.45. The business has a 50 day simple moving average of $346.46 and a 200-day simple moving average of $354.68.

Insider Transactions at Eaton

In related news, insider Sternadt Paulo Ruiz sold 10,707 shares of Eaton stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $390.26, for a total value of $4,178,513.82. Following the transaction, the insider owned 27,729 shares in the company, valued at $10,821,519.54. This trade represents a 27.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Eaton

A number of institutional investors have recently added to or reduced their stakes in ETN. Hilton Head Capital Partners LLC bought a new stake in shares of Eaton in the 4th quarter worth approximately $26,000. Sfam LLC acquired a new stake in Eaton during the fourth quarter worth $27,000. Eagle Bay Advisors LLC acquired a new position in shares of Eaton in the 4th quarter valued at $29,000. WFA of San Diego LLC bought a new position in shares of Eaton during the 2nd quarter worth about $36,000. Finally, Imprint Wealth LLC acquired a new stake in shares of Eaton during the 3rd quarter valued at about $39,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on ETN shares. Wolfe Research upgraded Eaton from a “peer perform” rating to an “outperform” rating and set a $413.00 target price on the stock in a report on Tuesday, December 9th. HSBC raised Eaton from a “hold” rating to a “buy” rating and set a $400.00 target price on the stock in a report on Friday, January 16th. Morgan Stanley reiterated an “overweight” rating and set a $425.00 price objective on shares of Eaton in a research note on Wednesday, February 4th. Royal Bank Of Canada restated an “outperform” rating and set a $407.00 price objective on shares of Eaton in a research report on Wednesday, February 4th. Finally, Barclays dropped their price target on shares of Eaton from $362.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $389.89.

Eaton Company Profile

Eaton (NYSE: ETN) is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company’s offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.