Eaton was the first company that StockNews.com began providing coverage for in a research report published on Thursday (NYSE: ETN).
The stock of the industrial products company was given a “strong-buy” recommendation by the corporation, which indicated that they believe the price will continue to rise.
On February 8, Eaton’s most recent quarterly earnings report (NYSE: ETN) was made public for investors to view.
The industrial goods manufacturer reported $2.06 per share profits for the quarter, an increase of $0.01 from the previous quarter’s $2.05.
The sales for the company came in at $5.38 billion for the quarter, which is significantly higher than the $5.34 billion that analysts anticipated it would bring in for the period.
Eaton had a return on equity of 18.31%, and their net margin was 11.86%. Overall, the company did very well. Compared to the same period the previous year, the revenue for the quarter saw a 12.2% increase in growth.
During the same period in the previous year, the corporation generated a profit of $1.72 for each outstanding share.
According to the projections made by market analysts, Eaton’s annual profit per share is anticipated to come in at $8.26.
On Thursday, the price of ETN was $159.27 when trading first began on the NYSE.
The share price has a beta value of 1.13, a market value of $63.39 billion, a price-to-earnings ratio of 25.90, and a PEG ratio of 1.87.
These are all excellent indicators for the stock.
These metrics indicate that the stock should do exceptionally well in the coming years, which is good news for investors.
The stock price is estimated to be $155.77 based on the simple moving average of the previous 200 days; however, the price is estimated to be $167.15 based on the simple moving average of the most recent 50 days.
The debt-to-equity ratio stands at 0.49, the current ratio at 1.38, and the quick ratio at 0.84.
In the past year, Eaton’s stock price has ranged between a low of $122.50 and a high of $178.75, with an average of $142.
Several equity analysts recently collaborated on a research paper recently published on the company they have been working on.
In a research report released on March 3, Morgan Stanley raised their price objective on Eaton stock from $185.00 to $200.00 and upgraded the company’s rating from “underweight” to “overweight.” Mizuho raised its price objective for Eaton in a research report published on Friday, January 13.
The report was distributed to investors.
The new price target has been set at $168.00, and a “buy” rating has been assigned to the company.
The increase in Deutsche Bank Aktiengesellschaft’s price target for Eaton, announced in a research report published on Thursday, February 9, was from $175.00 to $188.00.
Eaton was the topic of a research report released by the Royal Bank of Canada on Thursday, February 9.
In the report, the bank increased its price objective for the company from $149.00 to $161.00 and rated it “sector perform.” Barclays assigned Eaton the rating of “underweight” in a research report published on Thursday, February 9, and raised their price objective on the company from $130.00 to $148,000.
This was the last, but not the least, item on the agenda.
The stock has been recommended to sell by one of the equity research analysts, a recommendation to hold by three of them, a recommendation to buy by six, and a strong buy rating by one.
According to the information from Bloomberg, the company is currently rated as having an average recommendation of “Moderate Buy,” with a target price of $173.00.
According to the linked news story, on Friday, February 10, an employee with inside knowledge of Joao V. Faria sold 2,000 shares.
The price of one share of stock was determined to be $169, resulting in a total sale price of $338,000 for the company’s shares. Now, the corporate insider owns 67,166 shares, which have a combined value of approximately $11,351,054, according to the most recently available information.
This page contains the filing containing information about the transaction provided to the Securities and Exchange Commission (SEC). You can access the filing by clicking here.
According to the linked news story, on Friday, February 10, an employee with inside knowledge of Joao V. Faria sold 2,000 shares.
The price of one share of stock was determined to be $169, resulting in a total sale price of $338,000 for the company’s shares. Now, the corporate insider owns 67,166 shares, which have a combined value of approximately $11,351,054, according to the most recently available information.
This page contains the filing containing information about the transaction provided to the Securities and Exchange Commission (SEC). You can access the filing by clicking here. Joao V. Faria, an employee and an insider sold 5,204 shares of the company’s stock on Monday, February 27.
The sale of the shares generated a total revenue of $908,358.20, with each share bringing in $174.55 in profit. Following the completion of the transaction, the company insider now holds ownership of 76,314 shares of the company’s stock.
The total value of these shares is approximately $13,320,608.70.
Disclosures related to the sale might be found in this website section.
Insiders of the company have sold 33,377 shares of company stock over the past three months, bringing in a total of $5,864,193 in profits.
Insiders hold a majority of the company’s stock, accounting for 56% of the total shares outstanding.
In recent months, several institutional investors have rebalanced their ETN holdings in their portfolios.
The Norges Bank invested approximately 798,119,000 dollars in Eaton during the fourth quarter to increase its ownership of the company.
During the second quarter, Price T. Rowe Associates INC (MD) increased its holdings in Eaton by 339.5 percent, bringing the total percentage increase to 339.5 percent.
After making additional purchases totaling 4,158,351 shares over the most recent fiscal quarter, Price T. Rowe Associates INC (MD) now holds a total of 5,383,123 shares of the stock held by the industrial products company.
The current value of these holdings, as determined by the market, is $678,220,000.
In the final three months of 2018, Moneta Group Investment Advisors LLC made an increase of 122,471.4% in the percentage of Eaton stock that was held in its portfolio.
After making additional purchases totaling 2,617,213 shares during the relevant period, Moneta Group Investment Advisors LLC now owns a total of 2,619,350 shares of the industrial products company’s stock, which have a value of $411,107,000.
These shares were acquired during the relevant period.
The fourth quarter trading period resulted in a gain of 26.2% for the Eaton holdings that Morgan Stanley had.
After purchasing an additional 2,602,246 shares of the industrial products company’s stock throughout the year, Morgan Stanley is now the proud owner of 12,542,343 shares. Recent reports indicate that the price of one share of the company’s stock is currently $1,968,521,000.
During the year’s final quarter, Baillie Gifford & Co increased its holdings in Eaton by purchasing additional shares.
The aggregate price of all of these shares came to approximately 227.905.000 dollars.
To the tune of 80.19 percent, the company’s stock is owned by institutional investors who have purchased large blocks of shares.