Eaton (NYSE:ETN) was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a note issued to investors on Sunday, The Fly reports.
A number of other research analysts have also recently commented on the company. Citigroup upped their price target on Eaton from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Zacks Investment Research raised Eaton from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Tuesday, January 2nd. Credit Suisse Group reaffirmed an “outperform” rating and set a $92.00 price target (up previously from $86.00) on shares of Eaton in a research report on Wednesday, November 1st. Buckingham Research initiated coverage on Eaton in a research report on Tuesday, October 17th. They set a “neutral” rating and a $82.00 price target on the stock. Finally, Jefferies Group upped their price target on Eaton from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Wednesday, November 1st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $85.21.
Shares of Eaton (NYSE ETN) traded down $2.77 during midday trading on Friday, hitting $85.09. The stock had a trading volume of 5,457,184 shares, compared to its average volume of 2,358,573. Eaton has a 1 year low of $69.45 and a 1 year high of $89.85. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.65 and a quick ratio of 1.02. The stock has a market cap of $37,490.65, a PE ratio of 12.74, a PEG ratio of 1.99 and a beta of 1.39.
In related news, Director Charles E. Golden sold 4,311 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $76.03, for a total transaction of $327,765.33. Following the sale, the director now owns 20,275 shares of the company’s stock, valued at approximately $1,541,508.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nandakumar Cheruvatath sold 10,000 shares of the stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $77.50, for a total value of $775,000.00. Following the sale, the insider now directly owns 16,571 shares in the company, valued at approximately $1,284,252.50. The disclosure for this sale can be found here. Insiders have sold a total of 58,938 shares of company stock worth $4,597,529 in the last three months. 0.80% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Cable Hill Partners LLC lifted its holdings in Eaton by 174.8% during the 3rd quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 867 shares in the last quarter. Fieldpoint Private Securities LLC purchased a new stake in shares of Eaton in the 3rd quarter valued at about $130,000. Murphy Capital Management Inc. purchased a new stake in shares of Eaton in the 4th quarter valued at about $201,000. Carroll Financial Associates Inc. raised its holdings in shares of Eaton by 113.6% in the 4th quarter. Carroll Financial Associates Inc. now owns 2,805 shares of the industrial products company’s stock valued at $221,000 after acquiring an additional 1,492 shares in the last quarter. Finally, Linscomb & Williams Inc. purchased a new stake in shares of Eaton in the 4th quarter valued at about $223,000. 76.60% of the stock is currently owned by institutional investors and hedge funds.
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About Eaton
Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.
