Mizuho Boosts Eaton (NYSE:ETN) Price Target to $385.00

Eaton (NYSE:ETN) had its price objective boosted by equities researchers at Mizuho from $365.00 to $385.00 in a report released on Friday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Mizuho’s price target points to a potential upside of 14.93% from the stock’s current price.

Several other research analysts have also recently weighed in on ETN. Citigroup began coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective on the stock. Barclays decreased their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a report on Friday. Evercore ISI cut their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Raymond James reduced their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Finally, Wells Fargo & Company upped their price objective on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $341.00.

Eaton Trading Up 1.0 %

Shares of Eaton stock opened at $335.00 on Friday. The company’s 50-day moving average price is $323.09 and its 200-day moving average price is $318.31. The company has a market cap of $133.36 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 2.53 and a beta of 1.01. Eaton has a 12-month low of $211.99 and a 12-month high of $349.74. The company has a current ratio of 1.53, a quick ratio of 1.07 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter last year, the business posted $2.47 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. On average, equities analysts expect that Eaton will post 10.75 earnings per share for the current fiscal year.

Insider Transactions at Eaton

In other news, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the purchase, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dorothy C. Thompson bought 2,205 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 52,511 shares of company stock valued at $15,809,326. Company insiders own 0.53% of the company’s stock.

Institutional Trading of Eaton

Institutional investors and hedge funds have recently bought and sold shares of the company. Breakwater Investment Management grew its holdings in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after buying an additional 78 shares during the last quarter. Proffitt & Goodson Inc. purchased a new stake in Eaton during the 2nd quarter valued at $29,000. LGT Financial Advisors LLC purchased a new position in shares of Eaton in the second quarter worth $33,000. West Financial Advisors LLC bought a new position in shares of Eaton during the third quarter valued at $35,000. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in shares of Eaton during the second quarter valued at $37,000. 82.97% of the stock is currently owned by institutional investors.

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.