Barclays Has Lowered Expectations for Eaton (NYSE:ETN) Stock Price

Eaton (NYSE:ETN) had its target price reduced by equities research analysts at Barclays from $325.00 to $315.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s target price points to a potential upside of 12.08% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Evercore ISI cut their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Melius Research reissued a “hold” rating and set a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. StockNews.com cut shares of Eaton from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. cut their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada decreased their price target on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $357.16.

Eaton Trading Down 1.6 %

Shares of ETN stock opened at $281.04 on Wednesday. The firm has a fifty day moving average of $307.35 and a 200-day moving average of $331.22. The stock has a market cap of $110.10 billion, a price-to-earnings ratio of 29.58, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton has a 52-week low of $255.65 and a 52-week high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the previous year, the business earned $2.55 earnings per share. On average, equities research analysts forecast that Eaton will post 12.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eaton

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Capital A Wealth Management LLC bought a new stake in Eaton during the fourth quarter worth $26,000. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton in the 4th quarter valued at about $27,000. Noble Wealth Management PBC acquired a new stake in Eaton in the 4th quarter valued at about $30,000. Horizon Bancorp Inc. IN grew its holdings in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the period. Finally, Morse Asset Management Inc acquired a new position in Eaton during the third quarter worth approximately $33,000. Institutional investors 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.