Stephens began coverage on shares of Eaton (NYSE:ETN) in a research note issued to investors on Monday, Marketbeat.com reports. The firm set an “overweight” rating and a $96.00 price target on the industrial products company’s stock. Stephens’ target price would indicate a potential upside of 31.60% from the company’s previous close.

Several other brokerages have also recently weighed in on ETN. Morgan Stanley reduced their price target on shares of Eaton from $94.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, October 31st. Credit Suisse Group reduced their price target on shares of Eaton from $91.00 to $85.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 31st. UBS Group upgraded shares of Eaton from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $91.00 to $100.00 in a research report on Friday, September 21st. Deutsche Bank reduced their price target on shares of Eaton from $102.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, October 31st. Finally, Zacks Investment Research upgraded shares of Eaton from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $86.67.

ETN stock opened at $72.95 on Monday. Eaton has a one year low of $67.70 and a one year high of $89.85. The company has a current ratio of 1.49, a quick ratio of 0.96 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $31.85 billion, a PE ratio of 14.10, a P/E/G ratio of 1.34 and a beta of 1.49.

Eaton (NYSE:ETN) last released its earnings results on Tuesday, October 30th. The industrial products company reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. Eaton had a net margin of 10.06% and a return on equity of 13.48%. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts predict that Eaton will post 5.35 EPS for the current year.

In related news, insider Richard H. Fearon sold 25,000 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $83.29, for a total value of $2,082,250.00. Following the completion of the sale, the insider now directly owns 221,459 shares of the company’s stock, valued at $18,445,320.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Revathi Advaithi sold 15,500 shares of the stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $82.98, for a total transaction of $1,286,190.00. Following the sale, the insider now directly owns 24,715 shares of the company’s stock, valued at $2,050,850.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,000 shares of company stock valued at $4,617,645. 0.50% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Pegasus Asset Management Inc. lifted its position in shares of Eaton by 2.3% during the second quarter. Pegasus Asset Management Inc. now owns 28,030 shares of the industrial products company’s stock valued at $2,095,000 after buying an additional 643 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Eaton by 5.4% during the second quarter. Bessemer Group Inc. now owns 12,819 shares of the industrial products company’s stock valued at $958,000 after buying an additional 651 shares during the last quarter. Advisor Partners LLC lifted its position in shares of Eaton by 6.6% during the third quarter. Advisor Partners LLC now owns 11,518 shares of the industrial products company’s stock valued at $999,000 after buying an additional 715 shares during the last quarter. Andesa Financial Management Inc. lifted its position in shares of Eaton by 3.5% during the second quarter. Andesa Financial Management Inc. now owns 21,750 shares of the industrial products company’s stock valued at $1,623,000 after buying an additional 740 shares during the last quarter. Finally, Reilly Financial Advisors LLC lifted its position in shares of Eaton by 145.3% during the third quarter. Reilly Financial Advisors LLC now owns 1,266 shares of the industrial products company’s stock valued at $110,000 after buying an additional 750 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

About Eaton

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Analyst Recommendations for Eaton (NYSE:ETN)

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