Eaton (NYSE:ETN) Given New $335.00 Price Target at Wells Fargo & Company

Eaton (NYSE:ETN) had its target price lowered by Wells Fargo & Company from $350.00 to $335.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

Other analysts also recently issued research reports about the stock. Sanford C. Bernstein assumed coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. JPMorgan Chase & Co. decreased their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Jefferies Financial Group raised their price target on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Bank of America increased their price objective on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, UBS Group started coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $369.20.

Eaton Stock Down 3.3 %

Eaton stock opened at $315.74 on Monday. The company has a market capitalization of $124.78 billion, a PE ratio of 33.24, a PEG ratio of 2.27 and a beta of 1.06. Eaton has a 12-month low of $255.65 and a 12-month high of $379.99. The firm’s fifty day moving average is $349.23 and its 200 day moving average is $331.21. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last released its quarterly earnings data 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 in the previous year, the firm posted $2.55 EPS. As a group, sell-side analysts predict that Eaton will post 12 EPS for the current fiscal year.

Insider Buying and Selling 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 transaction of $3,559,800.00. Following the sale, the director now owns 43,203 shares in the company, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,981 shares of company stock valued at $26,318,917 over the last three months. 0.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wetzel Investment Advisors Inc. boosted its holdings in Eaton by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock worth $1,029,000 after purchasing an additional 28 shares during the last quarter. Strategic Wealth Partners Ltd. boosted its stake in shares of Eaton by 3.0% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after buying an additional 30 shares during the last quarter. Fairfield Financial Advisors LTD grew its holdings in shares of Eaton by 16.2% in the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 30 shares during the period. Westmount Partners LLC increased its position in Eaton by 3.1% during the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 30 shares during the last quarter. Finally, Signal Advisors Wealth LLC lifted its holdings in Eaton by 3.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after acquiring an additional 30 shares during the period. Hedge funds and other 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.