UBS Group Analysts Give Eaton (ETN) a $97.00 Price Target

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Eaton (NYSE:ETN) has been given a $97.00 price target by investment analysts at UBS Group in a research note issued on Wednesday, www.tipranks.com reports. The firm currently has a “buy” rating on the industrial products company’s stock. UBS Group’s price target would indicate a potential upside of 34.11% from the company’s current price.

A number of other research analysts have also recently commented on ETN. Zacks Investment Research raised Eaton from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Tuesday, July 3rd. MED raised Eaton from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Thursday, July 12th. Deutsche Bank set a $86.00 price target on Eaton and gave the company a “buy” rating in a research report on Thursday, July 12th. ValuEngine raised Eaton from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $80.00 price target on shares of Eaton in a research report on Tuesday, July 31st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $87.00.

ETN stock traded up $1.98 during midday trading on Wednesday, hitting $72.33. The company’s stock had a trading volume of 172,227 shares, compared to its average volume of 2,911,588. The company has a current ratio of 1.47, a quick ratio of 0.96 and a debt-to-equity ratio of 0.40. Eaton has a 1 year low of $67.70 and a 1 year high of $89.85. The stock has a market cap of $31.20 billion, a P/E ratio of 15.55, a P/E/G ratio of 1.29 and a beta of 1.36.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $1.43 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.43. Eaton had a return on equity of 13.11% and a net margin of 14.80%. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. As a group, analysts forecast that Eaton will post 5.37 earnings per share for the current fiscal year.

In related news, insider Ken D. Semelsberger sold 11,500 shares of the stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $86.57, for a total transaction of $995,555.00. Following the sale, the insider now owns 78,883 shares of the company’s stock, valued at approximately $6,828,901.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Deborah L. Mccoy sold 3,000 shares of the stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $84.55, for a total value of $253,650.00. Following the sale, the director now directly owns 32,936 shares in the company, valued at approximately $2,784,738.80. The disclosure for this sale can be found here. Insiders have sold a total of 55,000 shares of company stock worth $4,617,645 in the last three months. 0.50% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Architects Inc increased its stake in Eaton by 2,675.0% in the 3rd quarter. Financial Architects Inc now owns 1,221 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 1,177 shares during the last quarter. Reilly Financial Advisors LLC increased its stake in Eaton by 145.3% in the 3rd quarter. Reilly Financial Advisors LLC now owns 1,266 shares of the industrial products company’s stock worth $110,000 after acquiring an additional 750 shares during the last quarter. Zions Bancorporation bought a new position in Eaton in the 2nd quarter worth about $113,000. Fort L.P. bought a new position in Eaton in the 2nd quarter worth about $116,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in Eaton in the 2nd quarter worth about $123,000. Institutional investors and hedge funds own 77.79% of the company’s stock.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Analyst Recommendations for Eaton (NYSE:ETN)

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