KeyCorp Lowers Eaton (NYSE:ETN) Price Target to $325.00

Eaton (NYSE:ETN) had its price target lowered by KeyCorp from $340.00 to $325.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s target price indicates a potential upside of 25.98% from the company’s previous close.

Several other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Royal Bank of Canada cut their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Melius Research reaffirmed a “hold” rating and set a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Melius cut 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. Finally, StockNews.com lowered shares of Eaton from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $355.89.

Eaton Stock Performance

ETN traded up $5.53 during midday trading on Tuesday, reaching $257.98. The company’s stock had a trading volume of 963,124 shares, compared to its average volume of 2,576,620. The stock has a market cap of $101.07 billion, a P/E ratio of 27.23, a PEG ratio of 2.64 and a beta of 1.09. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $295.28 and a 200 day simple moving average of $329.70. Eaton has a twelve month low of $231.85 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) 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 in the previous year, the business posted $2.55 earnings per share. Research analysts expect that Eaton will post 12.02 earnings per share for the current year.

Institutional Trading of Eaton

A number of hedge funds and other institutional investors have recently bought and sold shares of ETN. Capital A Wealth Management LLC acquired a new stake in Eaton during the 4th quarter valued at approximately $26,000. Flagship Wealth Advisors LLC purchased a new stake in Eaton during the 4th quarter worth about $27,000. Noble Wealth Management PBC purchased a new position in Eaton in the fourth quarter valued at about $30,000. Horizon Bancorp Inc. IN grew its stake in shares of Eaton by 321.7% during the fourth 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 in the last quarter. Finally, Morse Asset Management Inc acquired a new stake in Eaton in the third quarter valued at $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.