Eaton (NYSE:ETN) Given New $335.00 Price Target at Jefferies Financial Group

Eaton (NYSE:ETN) had its price objective decreased by Jefferies Financial Group from $390.00 to $335.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 18.42% from the company’s previous close.

ETN has been the topic of a number of other reports. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 target price on the stock in a research report on Wednesday. Wells Fargo & Company cut their price objective on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. Royal Bank of Canada cut their price target on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Finally, Barclays lowered their price objective on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $356.20.

Eaton Stock Performance

NYSE:ETN opened at $282.89 on Wednesday. The firm’s fifty day simple moving average is $319.04 and its 200 day simple moving average is $331.92. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton has a twelve month low of $255.65 and a twelve month high of $379.99. The firm has a market capitalization of $110.89 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 2.64 and a beta of 1.09.

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 in the prior year, the business earned $2.55 earnings per share. As a group, equities research analysts expect that Eaton will post 12.02 earnings per share for the current fiscal year.

Insider Transactions at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction 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 sale, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Eaton

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew 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 purchasing an additional 99,291 shares during the last quarter. FMR LLC boosted 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 worth $5,051,807,000 after buying an additional 182,455 shares during the period. Geode Capital Management LLC increased its position in Eaton by 1.6% in the 4th 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 acquiring an additional 129,071 shares during the period. Nuveen Asset Management LLC raised its stake in Eaton by 4.3% during the 4th 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 acquiring an additional 192,482 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Eaton by 8.8% during the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company’s stock worth $1,518,207,000 after acquiring an additional 368,241 shares during the period. 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.