Eaton (NYSE:ETN) Price Target Raised to $97.00 at Morgan Stanley

Eaton (NYSE:ETN) had its price target raised by Morgan Stanley from $94.00 to $97.00 in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the industrial products company’s stock.

A number of other equities analysts have also recently commented on the company. Vertical Research cut Eaton from a buy rating to a hold rating and set a $85.00 target price for the company. in a report on Wednesday, October 9th. Oppenheimer raised Eaton from a market perform rating to an outperform rating and set a $95.00 price target on the stock in a research report on Wednesday, October 16th. Deutsche Bank lowered Eaton from a buy rating to a hold rating in a research report on Wednesday, December 4th. Bank of America raised Eaton from a neutral rating to a buy rating in a research report on Tuesday, December 17th. Finally, Zacks Investment Research raised Eaton from a sell rating to a hold rating and set a $94.00 price target on the stock in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $94.00.

Eaton stock traded down $0.43 during midday trading on Tuesday, reaching $93.67. 994,250 shares of the stock traded hands, compared to its average volume of 2,386,390. The company has a 50-day simple moving average of $94.01 and a two-hundred day simple moving average of $85.66. Eaton has a 12-month low of $67.97 and a 12-month high of $95.88. The firm has a market cap of $39.26 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 1.87 and a beta of 1.43. The company has a current ratio of 1.72, a quick ratio of 1.10 and a debt-to-equity ratio of 0.52.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.01. Eaton had a return on equity of 15.15% and a net margin of 11.06%. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the business posted $1.43 EPS. Eaton’s revenue for the quarter was down 1.8% on a year-over-year basis. Equities research analysts anticipate that Eaton will post 5.72 earnings per share for the current year.

In other news, Director Michael J. Critelli sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $92.00, for a total transaction of $920,000.00. Following the sale, the director now owns 55,566 shares of the company’s stock, valued at approximately $5,112,072. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard H. Fearon sold 34,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $90.05, for a total value of $3,061,700.00. Following the sale, the insider now directly owns 200,384 shares in the company, valued at approximately $18,044,579.20. The disclosure for this sale can be found here. Insiders sold a total of 60,988 shares of company stock worth $5,527,268 in the last ninety days. 0.70% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Trust Co. of Toledo NA OH increased its position in Eaton by 0.6% during the fourth quarter. Trust Co. of Toledo NA OH now owns 19,705 shares of the industrial products company’s stock worth $1,866,000 after buying an additional 120 shares during the period. D.B. Root & Company LLC boosted its stake in shares of Eaton by 3.1% in the third quarter. D.B. Root & Company LLC now owns 4,264 shares of the industrial products company’s stock valued at $354,000 after buying an additional 130 shares in the last quarter. Strategic Investment Advisors MI boosted its stake in shares of Eaton by 5.2% in the third quarter. Strategic Investment Advisors MI now owns 2,691 shares of the industrial products company’s stock valued at $224,000 after buying an additional 134 shares in the last quarter. Unison Advisors LLC boosted its stake in shares of Eaton by 0.9% in the fourth quarter. Unison Advisors LLC now owns 16,466 shares of the industrial products company’s stock valued at $1,559,000 after buying an additional 139 shares in the last quarter. Finally, Courier Capital LLC boosted its stake in shares of Eaton by 2.9% in the fourth quarter. Courier Capital LLC now owns 4,923 shares of the industrial products company’s stock valued at $469,000 after buying an additional 139 shares in the last quarter. 78.16% of the stock is currently 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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