Jefferies Financial Group Has Lowered Expectations for Eaton (NYSE:ETN) Stock Price

Eaton (NYSE:ETN) had its price target dropped by Jefferies Financial Group from $390.00 to $335.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Jefferies Financial Group’s target price points to a potential upside of 18.31% from the stock’s previous close.

A number of other research firms have also weighed in on ETN. Melius lowered 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. Evercore ISI dropped their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. KeyCorp upgraded Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a report on Wednesday. Barclays cut their price target on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Finally, Citigroup cut their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $356.20.

Eaton Stock Performance

NYSE ETN opened at $283.16 on Wednesday. The firm has a market cap of $111.00 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $317.27 and a 200-day moving average price of $331.31. Eaton has a twelve month low of $255.65 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings data 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 period last year, the business earned $2.55 earnings per share. As a group, equities research analysts predict that Eaton will post 12.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Eaton

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Capital A Wealth Management LLC purchased a new position in shares of Eaton in the 4th quarter valued at $26,000. Flagship Wealth Advisors LLC purchased a new position in shares of Eaton in the 4th quarter valued at $27,000. Noble Wealth Management PBC purchased a new position in shares of Eaton in the 4th quarter valued at $30,000. Groupama Asset Managment increased its holdings in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 4,298 shares during the period. Finally, Horizon Bancorp Inc. IN increased its holdings in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares during the period. 82.97% of the stock is owned by institutional investors.

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.