Eaton (NYSE:ETN) Given New $335.00 Price Target at Jefferies Financial Group

Eaton (NYSE:ETN) had its price objective lowered by equities researchers at Jefferies Financial Group from $390.00 to $335.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 18.31% from the company’s previous close.

ETN has been the topic of several other reports. Wells Fargo & Company dropped their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. Royal Bank of Canada dropped their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Barclays lowered their price target on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Evercore ISI lowered their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. lowered their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $356.20.

Eaton Stock Down 3.0 %

Shares of ETN stock opened at $283.16 on Wednesday. Eaton has a 1-year low of $255.65 and a 1-year high of $379.99. The stock’s fifty day moving average price is $317.27 and its 200 day moving average price is $331.31. 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 $111.00 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 prior year, the business posted $2.55 EPS. On average, research analysts expect that Eaton will post 12.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eaton

Several institutional investors and hedge funds have recently modified their holdings of ETN. Northstar Financial Companies Inc. acquired a new position in Eaton in the 4th quarter worth about $548,000. Wealthedge Investment Advisors LLC acquired a new position in Eaton in the 4th quarter worth about $206,000. Mattson Financial Services LLC acquired a new position in Eaton in the 4th quarter worth about $1,731,000. Wood Tarver Financial Group LLC acquired a new position in Eaton in the 4th quarter worth about $186,000. Finally, Kilter Group LLC acquired a new position in Eaton in the 4th quarter worth about $220,000. 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.