Mizuho Forecasts Strong Price Appreciation for Eaton (NYSE:ETN) Stock

by · The Cerbat Gem

Eaton (NYSE:ETN – Get Free Report) had its price target boosted by equities researchers at Mizuho from $365.00 to $385.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Mizuho’s target price suggests a potential upside of 14.93% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada reiterated an “outperform” rating and set a $374.00 target price on shares of Eaton in a research report on Friday. Morgan Stanley assumed coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Raymond James decreased their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Jefferies Financial Group boosted their target price on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $341.00.

View Our Latest Report on Eaton

Eaton Stock Up 1.0 %

ETN stock opened at $335.00 on Friday. The business’s 50-day moving average is $323.09 and its two-hundred day moving average is $318.31. The company has a market cap of $133.36 billion, a price-to-earnings ratio of 35.64, a P/E/G ratio of 2.53 and a beta of 1.01. Eaton has a fifty-two week low of $211.99 and a fifty-two week high of $349.74. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.07 and a current ratio of 1.53.

Eaton (NYSE:ETN – Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter last year, the firm posted $2.47 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. As a group, analysts forecast that Eaton will post 10.75 earnings per share for the current year.

Insider Transactions at Eaton

In other news, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was acquired at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the purchase, the director now owns 500 shares of the company’s stock, valued at $149,485. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Karenann K. Terrell bought 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were purchased at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the purchase, the director now directly owns 500 shares of the company’s stock, valued at approximately $149,485. The disclosure for this purchase can be found here. In the last three months, insiders have sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital World Investors boosted its holdings in Eaton by 323.8% in the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after purchasing an additional 2,439,270 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Eaton by 2,857.4% during the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after buying an additional 1,219,790 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Eaton by 27,075.5% in the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after purchasing an additional 1,070,024 shares during the period. Swedbank AB purchased a new position in Eaton during the 2nd quarter worth $225,974,000. Finally, Assenagon Asset Management S.A. lifted its position in Eaton by 1,604.4% in the second quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock valued at $211,201,000 after purchasing an additional 634,059 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Company Profile

(Get Free Report)

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.

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