Eaton Corporation, PLC (NYSE:ETN) has been assigned an average recommendation of “Hold” from the twenty-one research firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $80.82.
A number of research firms have issued reports on ETN. Morgan Stanley reaffirmed an “overweight” rating and issued a $88.00 price target (up previously from $87.00) on shares of Eaton Corporation, PLC in a report on Monday, October 2nd. JMP Securities began coverage on shares of Eaton Corporation, PLC in a report on Monday, June 19th. They issued a “market perform” rating for the company. Zacks Investment Research raised shares of Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Wednesday, July 5th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $82.00 price target on shares of Eaton Corporation, PLC in a report on Thursday. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $75.00 price target on shares of Eaton Corporation, PLC in a report on Thursday, August 24th.
Shares of Eaton Corporation, PLC (NYSE ETN) traded down 0.24% during trading on Wednesday, reaching $78.53. 1,942,761 shares of the company were exchanged. The firm has a market capitalization of $34.93 billion, a PE ratio of 18.00 and a beta of 1.36. Eaton Corporation, PLC has a 1-year low of $59.07 and a 1-year high of $81.63. The company’s 50-day moving average is $75.46 and its 200 day moving average is $75.94.
Eaton Corporation, PLC (NYSE:ETN) last announced its earnings results on Tuesday, August 1st. The industrial products company reported $1.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.01). The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.14 billion. Eaton Corporation, PLC had a net margin of 9.95% and a return on equity of 12.93%. Eaton Corporation, PLC’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $1.07 earnings per share. Equities research analysts expect that Eaton Corporation, PLC will post $4.60 EPS for the current fiscal year.
In related news, Director Deborah L. Mccoy sold 6,450 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $73.17, for a total transaction of $471,946.50. Following the completion of the transaction, the director now owns 46,386 shares of the company’s stock, valued at $3,394,063.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.80% of the company’s stock.
Several institutional investors have recently modified their holdings of ETN. Wealthsource Partners LLC purchased a new position in Eaton Corporation, PLC in the second quarter valued at $226,000. Sterling Capital Management LLC increased its holdings in Eaton Corporation, PLC by 1.6% in the second quarter. Sterling Capital Management LLC now owns 130,072 shares of the industrial products company’s stock valued at $10,124,000 after buying an additional 2,053 shares in the last quarter. Colonial Trust Advisors increased its holdings in Eaton Corporation, PLC by 89.9% in the second quarter. Colonial Trust Advisors now owns 32,466 shares of the industrial products company’s stock valued at $2,527,000 after buying an additional 15,371 shares in the last quarter. Sandhill Capital Partners LLC increased its holdings in Eaton Corporation, PLC by 1.9% in the second quarter. Sandhill Capital Partners LLC now owns 239,555 shares of the industrial products company’s stock valued at $18,645,000 after buying an additional 4,458 shares in the last quarter. Finally, Cibc World Markets Corp increased its holdings in Eaton Corporation, PLC by 34.6% in the second quarter. Cibc World Markets Corp now owns 63,203 shares of the industrial products company’s stock valued at $4,919,000 after buying an additional 16,252 shares in the last quarter. 75.87% of the stock is owned by hedge funds and other institutional investors.
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Eaton Corporation, PLC Company Profile
Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.
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