Eaton (NYSE:ETN) Given Buy Rating at Mizuho

Eaton (NYSE:ETN)‘s stock had its “buy” rating reiterated by equities researchers at Mizuho in a note issued to investors on Wednesday, Benzinga reports. They currently have a $355.00 price target on the industrial products company’s stock, up from their prior price target of $340.00. Mizuho’s price objective would indicate a potential upside of 13.01% from the company’s previous close.

A number of other equities research analysts also recently commented on ETN. Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Berenberg Bank increased their price objective on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Evercore ISI increased their price objective on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Wolfe Research reissued an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. Finally, UBS Group increased their price objective on Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $296.60.

Eaton Trading Down 1.3 %

Shares of ETN traded down $4.12 during trading on Wednesday, reaching $314.14. 463,877 shares of the company traded hands, compared to its average volume of 1,990,444. The stock has a 50-day simple moving average of $306.65 and a 200-day simple moving average of $260.44. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. Eaton has a twelve month low of $165.24 and a twelve month high of $333.05. The stock has a market cap of $125.50 billion, a PE ratio of 39.25, a price-to-earnings-growth ratio of 2.71 and a beta of 1.07.

Eaton (NYSE:ETN) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.12. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. Eaton’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.88 EPS. On average, analysts anticipate that Eaton will post 10.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the sale, the insider now directly owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the transaction, the insider now owns 29,712 shares in the company, valued at $8,116,427.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the sale, the insider now owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,969 shares of company stock worth $10,904,774. 0.53% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Accurate Wealth Management LLC bought a new position in Eaton during the third quarter worth about $226,000. Vicus Capital bought a new stake in Eaton during the third quarter worth $301,000. Cambridge Investment Research Advisors Inc. lifted its stake in Eaton by 6.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 62,359 shares of the industrial products company’s stock worth $13,300,000 after purchasing an additional 3,648 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Eaton by 4.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 105,233 shares of the industrial products company’s stock valued at $22,444,000 after acquiring an additional 4,048 shares during the last quarter. Finally, FinTrust Capital Advisors LLC lifted its stake in shares of Eaton by 9.6% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 1,444 shares of the industrial products company’s stock valued at $308,000 after acquiring an additional 126 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

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.