Eaton (NYSE:ETN) Stock Rating Lowered by StockNews.com

Posted by on Jun 21st, 2023

Eaton (NYSE:ETN – Get Rating) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

ETN has been the subject of a number of other reports. Mizuho boosted their price target on Eaton from $180.00 to $210.00 in a report on Friday, June 16th. Bank of America upped their price target on Eaton from $180.00 to $200.00 in a research note on Wednesday, March 8th. Morgan Stanley upped their target price on Eaton from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, March 3rd. Barclays upped their target price on Eaton from $145.00 to $159.00 in a research report on Wednesday, May 3rd. Finally, UBS Group increased their price target on Eaton from $205.00 to $210.00 in a report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.86.

Eaton Trading Up 1.6 %

ETN opened at $194.23 on Wednesday. The firm has a market cap of $77.42 billion, a price-to-earnings ratio of 30.30, a price-to-earnings-growth ratio of 2.06 and a beta of 1.12. The company has a quick ratio of 0.91, a current ratio of 1.50 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $174.83 and its two-hundred day moving average is $167.84. Eaton has a 52 week low of $122.50 and a 52 week high of $197.49.

Eaton (NYSE:ETN – Get Rating) last posted its quarterly earnings results on Tuesday, May 2nd. The industrial products company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.10. Eaton had a return on equity of 18.70% and a net margin of 12.00%. The firm had revenue of $5.50 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the previous year, the business earned $1.62 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, research analysts predict that Eaton will post 8.45 EPS for the current year.

Insider Transactions at Eaton

In related news, insider Taras G. Jr. Szmagala sold 2,000 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $183.93, for a total transaction of $367,860.00. Following the completion of the sale, the insider now directly owns 7,300 shares in the company, valued at $1,342,689. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eaton

Several institutional investors have recently bought and sold shares of ETN. Horan Securities Inc. increased its stake in shares of Eaton by 228.6% in the fourth quarter. Horan Securities Inc. now owns 161 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 112 shares during the period. Hollencrest Capital Management bought a new position in shares of Eaton in the fourth quarter valued at approximately $28,000. RFP Financial Group LLC bought a new position in Eaton in the 4th quarter worth approximately $30,000. Coppell Advisory Solutions Corp. bought a new position in Eaton in the 4th quarter worth approximately $30,000. Finally, Freedom Wealth Alliance LLC bought a new stake in shares of Eaton during the 4th quarter valued at $31,000. 81.31% of the stock is currently owned by institutional investors.

About Eaton

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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.

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