Eaton (ETN) Receives New Coverage from Analysts at UBS Group
Equities research analysts at UBS Group initiated coverage on shares of Eaton (NYSE:ETN) in a research report issued to clients and investors on Tuesday, www.briefing.com reports. The firm set a “neutral” rating and a $87.00 price target on the industrial products company’s stock. UBS Group’s target price would suggest a potential upside of 3.13% from the stock’s current price.
A number of other research firms have also commented on ETN. Stifel Nicolaus restated a “hold” rating and issued a $80.00 price objective on shares of Eaton in a research note on Monday, December 11th. Jefferies Group lifted their price objective on shares of Eaton from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Wednesday, November 1st. Morgan Stanley restated an “overweight” rating and issued a $88.00 price objective (up from $87.00) on shares of Eaton in a research note on Monday, October 2nd. Bank of America lowered shares of Eaton from a “buy” rating to an “underperform” rating in a research note on Tuesday, October 17th. Finally, Citigroup lifted their price objective on shares of Eaton from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. Eaton currently has a consensus rating of “Hold” and a consensus target price of $83.67.
Shares of Eaton (NYSE ETN) opened at $84.36 on Tuesday. Eaton has a one year low of $66.98 and a one year high of $84.50. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.43. The company has a market cap of $36,988.37, a price-to-earnings ratio of 13.24, a P/E/G ratio of 1.98 and a beta of 1.38.
In other news, Director Charles E. Golden sold 4,311 shares of Eaton stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $76.03, for a total value of $327,765.33. Following the sale, the director now owns 20,275 shares of the company’s stock, valued at $1,541,508.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Christopher M. Connor sold 6,450 shares of Eaton stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $78.04, for a total transaction of $503,358.00. Following the completion of the sale, the director now directly owns 20,100 shares in the company, valued at approximately $1,568,604. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,938 shares of company stock worth $4,597,529. Insiders own 0.80% of the company’s stock.
Several large investors have recently modified their holdings of the company. Cable Hill Partners LLC boosted its holdings in Eaton by 174.8% during the third quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock worth $105,000 after buying an additional 867 shares in the last quarter. Fieldpoint Private Securities LLC purchased a new stake in Eaton during the third quarter worth about $130,000. Carroll Financial Associates Inc. boosted its holdings in Eaton by 113.6% during the fourth quarter. Carroll Financial Associates Inc. now owns 2,805 shares of the industrial products company’s stock worth $221,000 after buying an additional 1,492 shares in the last quarter. Wealthsource Partners LLC purchased a new stake in Eaton during the second quarter worth about $226,000. Finally, InterOcean Capital LLC purchased a new stake in Eaton during the third quarter worth about $240,000. 76.53% of the stock is currently owned by institutional investors and hedge funds.
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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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