Eaton (NYSE:ETN) Price Target Raised to $392.00 at Royal Bank of Canada

Eaton (NYSE:ETN) had its price objective boosted by equities research analysts at Royal Bank of Canada from $374.00 to $392.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 15.75% from the company’s current price.

A number of other equities research analysts have also commented on ETN. Bank of America upped their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Citigroup increased their price target on Eaton from $394.00 to $440.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and boosted their price objective for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Raymond James reduced their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Finally, Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $368.83.

Eaton Stock Up 2.0 %

Shares of ETN traded up $6.69 during mid-day trading on Friday, hitting $338.65. 618,769 shares of the company traded hands, compared to its average volume of 1,087,576. The company has a market capitalization of $133.83 billion, a PE ratio of 36.03, a price-to-earnings-growth ratio of 2.74 and a beta of 1.03. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average of $354.71 and a 200 day moving average of $327.98. Eaton has a 1-year low of $233.73 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.47 earnings per share. Equities research analysts anticipate that Eaton will post 10.8 EPS for the current year.

Insiders Place Their Bets

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock worth $27,660,117 over the last ninety days. Corporate 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 business. Breakwater Investment Management boosted its stake 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 worth $26,000 after buying an additional 78 shares during the period. Groupama Asset Managment lifted its position in Eaton by 83.2% during 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 period. LGT Financial Advisors LLC purchased a new position in shares of Eaton in the 2nd quarter valued at approximately $33,000. Morse Asset Management Inc purchased a new stake in shares of Eaton during the third quarter worth approximately $33,000. Finally, West Financial Advisors LLC acquired a new stake in shares of Eaton during the third quarter worth $35,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Company Profile

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.