Brokerages Set Eaton Co. plc (NYSE:ETN) Target Price at $369.20

Eaton Co. plc (NYSE:ETN) has received a consensus recommendation of “Moderate Buy” from the nineteen analysts that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $369.20.

ETN has been the topic of several recent analyst reports. Wells Fargo & Company cut their price objective on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Sanford C. Bernstein initiated coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. UBS Group began 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. Citigroup decreased their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Bank of America upped their price target on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th.

Eaton Stock Performance

Shares of NYSE ETN opened at $313.11 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market cap of $123.74 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05. The company has a 50-day simple moving average of $343.25 and a 200-day simple moving average of $331.07. Eaton has a 12 month low of $255.65 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the previous year, the business earned $2.55 EPS. On average, equities analysts anticipate that Eaton will post 12.04 earnings per share for the current year.

Insider Transactions at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the sale, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ETN. Noble Wealth Management PBC bought a new position in shares of Eaton in the 4th quarter valued at about $30,000. Horizon Bancorp Inc. IN raised its stake in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc acquired a new position in Eaton during the 3rd quarter worth approximately $33,000. Activest Wealth Management boosted its holdings in Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 87 shares during the last quarter. Finally, West Financial Advisors LLC acquired a new stake in Eaton in the 3rd quarter valued at $35,000. Institutional investors and hedge funds 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.