Eaton (NYSE:ETN) Price Target Increased to $95.00 by Analysts at Morgan Stanley

Eaton (NYSE:ETN) had its price target lifted by equities research analysts at Morgan Stanley from $89.00 to $95.00 in a report issued on Tuesday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s target price points to a potential upside of 8.66% from the stock’s previous close.

A number of other analysts also recently commented on ETN. Bank of America downgraded Eaton from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 26th. They noted that the move was a valuation call. Barclays upped their price objective on Eaton from $85.00 to $89.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Gordon Haskett upgraded shares of Eaton from a “hold” rating to a “buy” rating and lowered their price target for the stock from $98.00 to $92.00 in a report on Friday, April 3rd. Citigroup cut their price target on Eaton from $110.00 to $90.00 and set a “buy” rating for the company in a report on Friday, April 3rd. Finally, UBS Group raised their price objective on Eaton from $90.00 to $93.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Eaton currently has an average rating of “Buy” and a consensus target price of $94.24.

Shares of Eaton stock opened at $87.43 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.75 and a quick ratio of 1.28. The stock has a market capitalization of $34.58 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 2.16 and a beta of 1.14. The business has a 50-day moving average of $87.45 and a 200 day moving average of $87.53. Eaton has a 12 month low of $56.42 and a 12 month high of $105.78.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.02. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.84 billion. Eaton had a return on equity of 14.67% and a net margin of 10.19%. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 EPS. Equities research analysts anticipate that Eaton will post 3.64 earnings per share for the current year.

In other news, Director Michael J. Critelli sold 2,500 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $84.71, for a total transaction of $211,775.00. Following the transaction, the director now owns 50,566 shares of the company’s stock, valued at $4,283,445.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Critelli sold 5,000 shares of Eaton stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $81.01, for a total value of $405,050.00. Following the completion of the transaction, the director now owns 50,566 shares of the company’s stock, valued at $4,096,351.66. The disclosure for this sale can be found here. Insiders have sold 29,961 shares of company stock valued at $2,661,001 over the last 90 days. Insiders own 0.54% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. AllSquare Wealth Management LLC bought a new stake in shares of Eaton in the 1st quarter valued at approximately $27,000. NuWave Investment Management LLC bought a new stake in Eaton during the second quarter valued at $32,000. Ameritas Investment Company LLC raised its holdings in shares of Eaton by 369.1% during the fourth quarter. Ameritas Investment Company LLC now owns 380 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 299 shares during the period. Sowa Financial Group Inc. bought a new position in shares of Eaton in the 4th quarter worth about $38,000. Finally, Lenox Wealth Management Inc. boosted its holdings in shares of Eaton by 53.0% in the 1st quarter. Lenox Wealth Management Inc. now owns 439 shares of the industrial products company’s stock valued at $34,000 after buying an additional 152 shares during the period. Hedge funds and other institutional investors own 78.16% of the company’s stock.

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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