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

Eaton (NYSE:ETN) had its price target decreased by stock analysts at Citigroup from $396.00 to $323.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Citigroup’s price target would suggest a potential upside of 16.60% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. Jefferies Financial Group decreased their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. KeyCorp decreased their target price on Eaton from $340.00 to $325.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada dropped their price target on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research note on Tuesday, January 28th. Finally, StockNews.com cut Eaton from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $350.22.

Eaton Trading Down 0.3 %

Shares of Eaton stock opened at $277.03 on Monday. The stock has a market capitalization of $108.53 billion, a PE ratio of 29.16, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The stock has a 50 day moving average price of $287.83 and a two-hundred day moving average price of $326.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton has a 52 week low of $231.85 and a 52 week high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS 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 period last year, the company posted $2.55 earnings per share. As a group, equities analysts anticipate that Eaton will post 12.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Greenwood Capital Associates LLC increased its position in shares of Eaton by 43.2% during the 1st quarter. Greenwood Capital Associates LLC now owns 16,501 shares of the industrial products company’s stock valued at $4,485,000 after purchasing an additional 4,979 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Eaton by 5.8% during the first quarter. Fifth Third Bancorp now owns 429,901 shares of the industrial products company’s stock worth $116,860,000 after acquiring an additional 23,702 shares in the last quarter. Simon Quick Advisors LLC lifted its holdings in shares of Eaton by 34.6% in the 1st quarter. Simon Quick Advisors LLC now owns 2,744 shares of the industrial products company’s stock worth $746,000 after acquiring an additional 706 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of Eaton by 31.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,091 shares of the industrial products company’s stock valued at $568,000 after purchasing an additional 502 shares during the last quarter. Finally, Zhang Financial LLC lifted its stake in Eaton by 2.1% in the first quarter. Zhang Financial LLC now owns 4,773 shares of the industrial products company’s stock worth $1,298,000 after purchasing an additional 96 shares during the last quarter. 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.