Barclays Issues Pessimistic Forecast for Eaton (NYSE:ETN) Stock Price

by · The Markets Daily

Eaton (NYSE:ETN – Get Free Report) had its price target decreased by Barclays from $315.00 to $306.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s target price suggests a potential upside of 26.78% from the company’s current price.

A number of other brokerages also recently issued reports on ETN. Jefferies Financial Group decreased their price target on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Evercore ISI lowered their price target 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. StockNews.com cut shares of Eaton from a “buy” rating to a “hold” rating in a report on Friday, March 21st. KeyCorp upgraded 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, March 12th. Finally, JPMorgan Chase & Co. cut their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $356.68.

Get Our Latest Report on ETN

Eaton Stock Performance

Shares of ETN traded down $19.48 during trading hours on Friday, reaching $241.37. 744,581 shares of the company traded hands, compared to its average volume of 3,677,460. The stock has a market capitalization of $94.56 billion, a P/E ratio of 25.41, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average price of $298.88 and a 200-day moving average price of $330.42. Eaton has a 12-month low of $243.18 and a 12-month high of $379.99.

Eaton (NYSE:ETN – Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping 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 quarter last year, the firm posted $2.55 earnings per share. Equities analysts anticipate that Eaton will post 12.02 EPS for the current fiscal year.

Institutional Trading of Eaton

Several hedge funds have recently made changes to their positions in ETN. Capital A Wealth Management LLC acquired a new position in shares of Eaton in the 4th quarter valued at $26,000. Flagship Wealth Advisors LLC purchased a new position in Eaton during the fourth quarter worth about $27,000. Noble Wealth Management PBC purchased a new stake in shares of Eaton in the 4th quarter valued at approximately $30,000. Groupama Asset Managment lifted its holdings in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 4,298 shares during the last quarter. Finally, Horizon Bancorp Inc. IN boosted its position in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Company Profile

(Get Free Report)

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.

Featured Articles