Eaton (NYSE:ETN) was upgraded by research analysts at Argus to a “buy” rating in a research note issued on Thursday. The firm presently has a $90.00 target price on the industrial products company’s stock, up from their prior target price of $85.00. Argus’ price objective points to a potential upside of 11.43% from the company’s current price.
ETN has been the subject of a number of other reports. UBS Group assumed coverage on Eaton in a research report on Tuesday, January 23rd. They issued a “neutral” rating and a $87.00 price target for the company. Zacks Investment Research lowered Eaton from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. 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. Oppenheimer restated a “hold” rating on shares of Eaton in a research report on Tuesday, October 31st. Finally, Buckingham Research assumed coverage on Eaton in a research report on Tuesday, October 17th. They issued a “neutral” rating and a $82.00 price target for the company. Three investment analysts have rated the stock with a sell rating, nine 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 a consensus price target of $86.93.
Eaton (NYSE ETN) opened at $80.77 on Thursday. Eaton has a fifty-two week low of $69.82 and a fifty-two week high of $89.85. The company has a market capitalization of $35,587.26, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 1.94 and a beta of 1.39. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 0.41.
In related news, insider Nandakumar Cheruvatath sold 10,000 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $77.50, for a total value of $775,000.00. Following the completion of the transaction, the insider now directly owns 16,571 shares in the company, valued at $1,284,252.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles E. Golden sold 4,311 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $76.03, for a total value of $327,765.33. Following the completion of the transaction, the director now owns 20,275 shares of the company’s stock, valued at $1,541,508.25. The disclosure for this sale can be found here. Insiders sold 28,745 shares of company stock valued at $2,233,669 over the last quarter. 0.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Timber Hill LLC purchased a new position in Eaton in the fourth quarter worth approximately $5,542,000. Alpha Cubed Investments LLC grew its position in Eaton by 14.6% in the fourth quarter. Alpha Cubed Investments LLC now owns 201,763 shares of the industrial products company’s stock worth $15,941,000 after acquiring an additional 25,771 shares during the period. Dynamic Advisors Solutions LLC grew its position in Eaton by 17.8% in the fourth quarter. Dynamic Advisors Solutions LLC now owns 5,713 shares of the industrial products company’s stock worth $451,000 after acquiring an additional 865 shares during the period. Baird Financial Group Inc. lifted its stake in Eaton by 0.5% during the fourth quarter. Baird Financial Group Inc. now owns 135,991 shares of the industrial products company’s stock worth $10,745,000 after purchasing an additional 630 shares in the last quarter. Finally, Norinchukin Bank The lifted its stake in Eaton by 6.0% during the fourth quarter. Norinchukin Bank The now owns 37,717 shares of the industrial products company’s stock worth $2,980,000 after purchasing an additional 2,120 shares in the last quarter. Institutional investors own 76.45% of the company’s stock.
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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.
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