Barclays Issues Pessimistic Forecast for Eaton (NYSE:ETN) Stock Price

Eaton (NYSE:ETN) had its target price lowered by analysts at Barclays from $325.00 to $315.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price objective would indicate a potential upside of 12.08% from the stock’s current price.

Several other research firms also recently commented on ETN. Wells Fargo & Company decreased their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a report on Tuesday, January 28th. JPMorgan Chase & Co. dropped their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Jefferies Financial Group reduced their price target on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Finally, Citigroup dropped their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $357.16.

Eaton Stock Down 1.6 %

Shares of ETN opened at $281.04 on Wednesday. The firm’s 50-day simple moving average is $307.35 and its 200 day simple moving average is $331.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a market cap of $110.10 billion, a P/E ratio of 29.58, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton has a 52 week low of $255.65 and a 52 week high of $379.99.

Eaton (NYSE:ETN) last announced its earnings results 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 quarter last year, the company earned $2.55 EPS. On average, analysts forecast that Eaton will post 12.02 earnings per share for the current year.

Hedge Funds Weigh In On Eaton

Institutional investors have recently added to or reduced their stakes in the stock. Capital A Wealth Management LLC bought a new stake in shares of Eaton during the fourth quarter worth $26,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton during the 4th quarter valued at $27,000. Noble Wealth Management PBC bought a new stake in Eaton during the 4th quarter worth $30,000. Groupama Asset Managment increased its holdings in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares in the last quarter. Finally, Horizon Bancorp Inc. IN raised its position in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the last quarter. 82.97% of the stock is currently 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.