StockNews.com Upgrades Eaton (NYSE:ETN) to “Buy”

Eaton (NYSE:ETN) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

A number of other equities research analysts have also recently issued reports on the stock. Citigroup cut their price objective on shares of Eaton from $396.00 to $323.00 and set a “buy” rating for the company in a research note on Monday. Barclays decreased their price objective on Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a report on Friday, April 4th. JPMorgan Chase & Co. dropped their target price on Eaton from $350.00 to $289.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Melius Research reaffirmed a “hold” rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Finally, Jefferies Financial Group dropped their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $350.22.

Eaton Stock Down 0.3 %

Shares of NYSE:ETN opened at $277.03 on Monday. The firm has a market capitalization of $108.53 billion, a PE ratio of 29.16, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. 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 has a 52-week low of $231.85 and a 52-week high of $379.99. The firm has a fifty day moving average of $287.83 and a 200 day moving average of $326.48.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 last year, the firm posted $2.55 EPS. As a group, research analysts anticipate that Eaton will post 12.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Morse Asset Management Inc purchased a new stake in Eaton during the 3rd quarter valued at about $33,000. Wellington Management Group LLP grew its holdings in shares of Eaton by 74.6% during the third quarter. Wellington Management Group LLP now owns 28,057 shares of the industrial products company’s stock valued at $9,299,000 after buying an additional 11,992 shares during the last quarter. Bard Financial Services Inc. bought a new stake in shares of Eaton during the third quarter valued at approximately $255,000. Advisory Resource Group raised its holdings in Eaton by 10.9% in the 3rd quarter. Advisory Resource Group now owns 4,358 shares of the industrial products company’s stock worth $1,444,000 after acquiring an additional 428 shares during the last quarter. Finally, Chelsea Counsel Co. lifted its position in Eaton by 29.4% in the 3rd quarter. Chelsea Counsel Co. now owns 220 shares of the industrial products company’s stock valued at $73,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other 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.