KeyCorp Boosts Eaton (NYSE:ETN) Price Target to $410.00

Eaton (NYSE:ETN) had its price target hoisted by equities researchers at KeyCorp from $355.00 to $410.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s target price would suggest a potential upside of 13.79% from the company’s previous close.

ETN has been the subject of a number of other reports. The Goldman Sachs Group lifted their target price on shares of Eaton from $345.00 to $382.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Wall Street Zen raised shares of Eaton from a “hold” rating to a “buy” rating in a research report on Saturday, July 5th. BNP Paribas initiated coverage on shares of Eaton in a research report on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price target on the stock. Barclays lifted their price target on shares of Eaton from $323.00 to $340.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley dropped their price target on shares of Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $377.89.

Eaton Trading Down 0.1%

Eaton stock opened at $360.32 on Tuesday. The company has a market cap of $140.99 billion, a P/E ratio of 36.36, a PEG ratio of 2.72 and a beta of 1.17. The firm’s 50-day moving average is $333.96 and its 200-day moving average is $313.47. Eaton has a 1 year low of $231.85 and a 1 year high of $379.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.40 EPS. On average, equities analysts expect that Eaton will post 12.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 103,486 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the completion of the transaction, the insider owned 490,208 shares in the company, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider directly owned 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 in the last 90 days. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of Eaton

Institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in shares of Eaton by 1.4% in the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company’s stock valued at $1,109,000 after acquiring an additional 45 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Eaton by 17.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company’s stock valued at $303,000 after acquiring an additional 136 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in shares of Eaton in the 4th quarter valued at about $42,839,000. Proficio Capital Partners LLC raised its holdings in shares of Eaton by 27.6% in the 4th quarter. Proficio Capital Partners LLC now owns 2,207 shares of the industrial products company’s stock valued at $732,000 after acquiring an additional 478 shares in the last quarter. Finally, Cibc World Markets Corp raised its holdings in shares of Eaton by 15.3% during the 4th quarter. Cibc World Markets Corp now owns 62,464 shares of the industrial products company’s stock valued at $20,730,000 after buying an additional 8,297 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.