Barclays Has Lowered Expectations for Eaton (NYSE:ETN) Stock Price

Eaton (NYSE:ETN) had its price target reduced by equities researchers at Barclays from $315.00 to $306.00 in a report released on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price objective would indicate a potential upside of 24.21% from the company’s previous close.

Several other analysts have also recently commented on ETN. Melius Research restated a “hold” rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a research report on Wednesday, March 12th. Jefferies Financial Group cut their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research note on Tuesday, January 28th. Finally, Evercore ISI reduced their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and an average target price of $356.68.

Eaton Trading Down 5.6 %

Eaton stock opened at $246.36 on Friday. The stock has a 50-day moving average price of $296.43 and a 200 day moving average price of $330.13. Eaton has a 52 week low of $236.58 and a 52 week high of $379.99. The stock has a market cap of $96.52 billion, a PE ratio of 25.93, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period last year, the firm earned $2.55 earnings per share. Equities research analysts predict that Eaton will post 12.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Capital A Wealth Management LLC bought a new stake in Eaton in the fourth quarter valued at about $26,000. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton in the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton during the 4th quarter valued at approximately $30,000. Horizon Bancorp Inc. IN lifted its stake in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new position in Eaton in the third quarter worth $33,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Company Profile

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.