Eaton (NYSE:ETN) Rating Increased to Strong-Buy at StockNews.com

Eaton (NYSE:ETNGet Rating) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday.

A number of other research firms have also recently weighed in on ETN. Robert W. Baird set a $144.00 target price on shares of Eaton in a research note on Tuesday, August 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Eaton from $160.00 to $176.00 in a research note on Wednesday, November 2nd. Royal Bank of Canada upped their price objective on shares of Eaton from $141.00 to $148.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 2nd. Mizuho increased their price target on shares of Eaton from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Finally, Credit Suisse Group increased their price target on shares of Eaton from $157.00 to $174.00 and gave the company an “outperform” rating in a research note on Wednesday, November 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $161.67.

Eaton Stock Performance

NYSE ETN opened at $158.19 on Monday. The stock has a market cap of $62.91 billion, a P/E ratio of 27.66, a PEG ratio of 1.91 and a beta of 1.15. The company’s 50-day simple moving average is $141.49 and its 200 day simple moving average is $139.91. Eaton has a twelve month low of $122.50 and a twelve month high of $175.72. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 0.50.

Insider Transactions at Eaton

In related news, insider Daniel Roy Hopgood sold 1,500 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $151.70, for a total value of $227,550.00. Following the completion of the transaction, the insider now owns 7,593 shares of the company’s stock, valued at $1,151,858.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Daniel Roy Hopgood sold 1,500 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $151.70, for a total value of $227,550.00. Following the completion of the transaction, the insider now owns 7,593 shares of the company’s stock, valued at $1,151,858.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brian S. Brickhouse sold 27,438 shares of the firm’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $155.76, for a total transaction of $4,273,742.88. Following the completion of the transaction, the insider now directly owns 28,131 shares of the company’s stock, valued at approximately $4,381,684.56. The disclosure for this sale can be found here. 0.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ETN. WFA of San Diego LLC bought a new position in shares of Eaton in the 2nd quarter valued at about $25,000. Financial Management Professionals Inc. grew its position in shares of Eaton by 288.6% in the 1st quarter. Financial Management Professionals Inc. now owns 171 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 127 shares during the period. MV Capital Management Inc. grew its position in shares of Eaton by 105.0% in the 2nd quarter. MV Capital Management Inc. now owns 207 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 106 shares during the period. Hazlett Burt & Watson Inc. bought a new position in shares of Eaton in the 1st quarter valued at about $30,000. Finally, Alpha Paradigm Partners LLC bought a new position in shares of Eaton in the 2nd quarter valued at about $31,000. Institutional investors own 80.54% of the company’s stock.

About Eaton

(Get Rating)

Eaton Corp. Plc is a power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: Electrical Americas and Electrical Global, Hydraulics, Aerospace, Vehicle, and eMobility. The Electrical Americas and Electrical Global segments engage in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service.

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Analyst Recommendations for Eaton (NYSE:ETN)

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