Eaton (NYSE:ETN) Now Covered by Analysts at Jefferies Financial Group

Research analysts at Jefferies Financial Group assumed coverage on shares of Eaton (NYSE:ETN) in a report released on Wednesday, Benzinga reports. The firm set a “neutral” rating and a $395.00 price target on the industrial products company’s stock. Jefferies Financial Group‘s price target would suggest a potential upside of 11.48% from the stock’s current price.

ETN has been the subject of several other reports. Weiss Ratings downgraded shares of Eaton from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. Royal Bank Of Canada boosted their price objective on Eaton from $526.00 to $539.00 and gave the stock an “outperform” rating in a report on Wednesday, November 4th. Wall Street Zen downgraded Eaton from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Mizuho set a $485.00 target price on Eaton in a research note on Wednesday, November 4th. Finally, Wells Fargo & Company lowered their target price on Eaton from $503.00 to $485.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $479.14.

Eaton Price Performance

NYSE:ETN opened at $354.34 on Wednesday. The company has a market cap of $137.66 billion, a P/E ratio of 35.40, a P/E/G ratio of 2.26 and a beta of 1.15. The firm’s fifty day moving average price is $403.30 and its two-hundred day moving average price is $396.80. Eaton has a one year low of $311.92 and a one year high of $478.00. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.23 and a quick ratio of 0.78.

Eaton (NYSE:ETN) last posted its earnings results on Tuesday, November 3rd. The industrial products company reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $0.14. Eaton had a net margin of 12.18% and a return on equity of 25.09%. The company had revenue of $8.95 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter last year, the company posted $3.07 EPS. Eaton’s quarterly revenue was up 28.0% compared to the same quarter last year. Equities analysts expect that Eaton will post 13.78 earnings per share for the current year.

Insider Activity

In other news, Director Gerald Johnson acquired 130 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average cost of $455.90 per share, with a total value of $59,267.00. Following the completion of the purchase, the director directly owned 1,829 shares of the company’s stock, valued at $833,841.10. The trade was a 7.65% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Eaton

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in shares of Eaton by 19.6% during the 2nd quarter. Wellington Management Group LLP now owns 6,827,266 shares of the industrial products company’s stock worth $2,909,235,000 after buying an additional 1,120,567 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Eaton by 2.0% during the 3rd quarter. Voya Investment Management LLC now owns 1,076,283 shares of the industrial products company’s stock worth $462,490,000 after buying an additional 20,723 shares during the last quarter. National Pension Service boosted its stake in Eaton by 3.5% in the second quarter. National Pension Service now owns 864,731 shares of the industrial products company’s stock valued at $368,479,000 after buying an additional 29,436 shares in the last quarter. Aberdeen Group plc boosted its stake in Eaton by 24.1% in the third quarter. Aberdeen Group plc now owns 838,318 shares of the industrial products company’s stock valued at $360,234,000 after buying an additional 162,941 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Eaton by 43.1% in the third quarter. Public Sector Pension Investment Board now owns 687,204 shares of the industrial products company’s stock valued at $293,965,000 after buying an additional 206,945 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Company Profile

Eaton is a global power management company that designs and manufactures products and services intended to help customers manage electrical, hydraulic and mechanical power. Founded in 1911, the company serves customers across a range of industries, including utilities, commercial buildings, data centers, aerospace and transportation. Its offerings include electrical distribution and circuit protection equipment, power quality and backup systems, and power management software and services. Eaton also makes aerospace components and systems, as well as products for vehicle powertrains and related applications.