Royal Bank of Canada Lowers Eaton (NYSE:ETN) Price Target to $376.00

Eaton (NYSE:ETN) had its target price dropped by Royal Bank of Canada from $405.00 to $376.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s target price points to a potential upside of 34.67% from the stock’s previous close.

Several other analysts have also commented on ETN. Barclays decreased their price objective on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a report on Monday. Citigroup dropped their price target on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company decreased their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday. Melius Research restated a “hold” rating and set a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Finally, Jefferies Financial Group raised their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $361.70.

Eaton Stock Down 3.0 %

NYSE ETN traded down $8.53 during trading on Thursday, reaching $279.20. 539,385 shares of the company’s stock traded hands, compared to its average volume of 3,620,275. Eaton has a 12-month low of $255.65 and a 12-month high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm has a market cap of $109.45 billion, a price-to-earnings ratio of 29.42, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company’s 50 day simple moving average is $323.38 and its two-hundred day simple moving average is $332.18.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates 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 company earned $2.55 earnings per share. As a group, sell-side analysts forecast that Eaton will post 12.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ETN. Wetzel Investment Advisors Inc. boosted its holdings in Eaton by 0.9% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after acquiring an additional 28 shares during the period. Westmount Partners LLC lifted its holdings in Eaton by 3.1% during the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock worth $327,000 after buying an additional 30 shares in the last quarter. Signal Advisors Wealth LLC boosted its position in Eaton by 3.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after buying an additional 30 shares during the period. Lantz Financial LLC grew its stake in shares of Eaton by 4.8% in the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 30 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of Eaton by 2.1% in the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock valued at $513,000 after acquiring an additional 32 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.