Barclays Lowers Eaton (NYSE:ETN) Price Target to $315.00

Eaton (NYSE:ETN) had its price objective cut by research analysts at Barclays from $325.00 to $315.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price objective points to a potential upside of 6.75% from the company’s current price.

Several other analysts also recently weighed in on the stock. Evercore ISI lowered their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. JPMorgan Chase & Co. dropped their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Melius Research reissued a “hold” rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. StockNews.com lowered Eaton from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a report on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $357.16.

Eaton Stock Down 1.6 %

ETN stock opened at $295.07 on Wednesday. The company has a market cap of $115.60 billion, a price-to-earnings ratio of 31.15, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a fifty day moving average price of $309.76 and a 200 day moving average price of $331.90. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton has a 12 month low of $255.65 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period in the previous year, the business earned $2.55 earnings per share. Sell-side analysts expect that Eaton will post 12.02 earnings per share for the current year.

Institutional Trading of Eaton

A number of hedge funds have recently added to or reduced their stakes in the business. Mascagni Wealth Management Inc. purchased a new stake in Eaton in the fourth quarter valued at approximately $140,000. 111 Capital purchased a new stake in shares of Eaton during the 4th quarter valued at $2,351,000. Thoma Capital Management LLC acquired a new stake in shares of Eaton during the 4th quarter worth $816,000. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Eaton in the 4th quarter worth $49,489,000. Finally, Northstar Financial Companies Inc. acquired a new position in Eaton in the fourth quarter valued at $548,000. 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.