Eaton (NYSE:ETN) Upgraded to “Overweight” at KeyCorp

Eaton (NYSE:ETN) was upgraded by stock analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a report released on Wednesday, MarketBeat.com reports. The firm presently has a $340.00 price objective on the industrial products company’s stock. KeyCorp’s target price would indicate a potential upside of 20.07% from the stock’s current price. KeyCorp also issued estimates for Eaton’s Q1 2025 earnings at $2.70 EPS, Q2 2025 earnings at $3.12 EPS, Q3 2025 earnings at $3.06 EPS, Q4 2025 earnings at $3.18 EPS, FY2025 earnings at $12.05 EPS and FY2026 earnings at $13.46 EPS.

A number of other equities analysts have also recently commented on ETN. Bank of America lifted their price target on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Citigroup decreased their price target on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. decreased their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Melius Research reaffirmed a “hold” rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Finally, Jefferies Financial Group lifted their price target on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average target price of $356.20.

Eaton Stock Performance

Shares of NYSE ETN opened at $283.16 on Wednesday. The stock has a market cap of $111.00 billion, a price-to-earnings ratio of 29.81, a P/E/G 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. Eaton has a 1-year low of $255.65 and a 1-year high of $379.99. The stock’s 50-day moving average is $317.27 and its 200 day moving average is $331.31.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating 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 EPS. On average, sell-side analysts anticipate that Eaton will post 12.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Eaton

Hedge funds have recently made changes to their positions in the company. Capital A Wealth Management LLC bought a new stake in shares of Eaton during the fourth quarter valued at approximately $26,000. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new stake in shares of Eaton during the fourth quarter valued at approximately $30,000. Horizon Bancorp Inc. IN raised its stake in 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 buying an additional 74 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new position in Eaton during the third quarter valued at $33,000. 82.97% of the stock is currently owned by institutional investors.

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.