Credit Suisse Group Reiterates “Outperform” Rating for Eaton Corporation, PLC (ETN)

Eaton Corporation, PLC (NYSE:ETN)‘s stock had its “outperform” rating reissued by equities researchers at Credit Suisse Group in a research note issued to investors on Wednesday. They presently have a $92.00 target price on the industrial products company’s stock, up from their previous target price of $86.00. Credit Suisse Group’s price target would suggest a potential upside of 17.78% from the stock’s previous close.

A number of other research firms have also weighed in on ETN. Royal Bank Of Canada reiterated a “hold” rating and issued a $78.00 target price on shares of Eaton Corporation, PLC in a research note on Wednesday, July 12th. Wolfe Research initiated coverage on Eaton Corporation, PLC in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. Stifel Nicolaus reissued a “hold” rating and set a $80.00 price target on shares of Eaton Corporation, PLC in a research report on Friday, July 7th. Bank of America Corporation downgraded Eaton Corporation, PLC from a “buy” rating to an “underperform” rating in a research report on Tuesday, October 17th. Finally, Buckingham Research initiated coverage on Eaton Corporation, PLC in a research report on Tuesday, October 17th. They set a “neutral” rating and a $82.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. Eaton Corporation, PLC has a consensus rating of “Hold” and an average target price of $82.86.

Eaton Corporation, PLC (NYSE:ETN) traded down $2.79 during mid-day trading on Wednesday, reaching $78.11. The company’s stock had a trading volume of 3,759,757 shares, compared to its average volume of 2,543,273. The firm has a market cap of $34.97 billion, a PE ratio of 17.72 and a beta of 1.39.

Eaton Corporation, PLC (NYSE:ETN) last released its earnings results on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.25. Eaton Corporation, PLC had a return on equity of 12.89% and a net margin of 14.21%. The business had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.12 billion. During the same quarter last year, the firm posted $1.16 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. analysts forecast that Eaton Corporation, PLC will post 4.6 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Credit Suisse Group Reiterates “Outperform” Rating for Eaton Corporation, PLC (ETN)” was reported by Community Financial News and is owned by of Community Financial News. If you are accessing this report on another publication, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this report can be read at https://www.com-unik.info/2017/11/03/credit-suisse-group-reiterates-outperform-rating-for-eaton-corporation-plc-etn.html.

In related news, Director Deborah L. Mccoy sold 6,450 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $73.17, for a total transaction of $471,946.50. Following the sale, 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 through the SEC website. 0.80% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Eaton Corporation, PLC by 2.3% in the first quarter. Vanguard Group Inc. now owns 30,348,561 shares of the industrial products company’s stock worth $2,250,347,000 after acquiring an additional 695,285 shares in the last quarter. BlackRock Inc. boosted its holdings in Eaton Corporation, PLC by 2,830.8% in the first quarter. BlackRock Inc. now owns 29,114,265 shares of the industrial products company’s stock worth $2,158,821,000 after acquiring an additional 28,120,890 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Eaton Corporation, PLC by 1.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,762,234 shares of the industrial products company’s stock worth $723,870,000 after acquiring an additional 170,461 shares in the last quarter. Bank of America Corp DE boosted its holdings in Eaton Corporation, PLC by 17.0% in the first quarter. Bank of America Corp DE now owns 6,407,605 shares of the industrial products company’s stock worth $475,123,000 after acquiring an additional 932,400 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in Eaton Corporation, PLC by 8.2% in the first quarter. Lazard Asset Management LLC now owns 5,849,259 shares of the industrial products company’s stock worth $433,722,000 after acquiring an additional 443,090 shares in the last quarter. 76.03% of the stock is owned by institutional investors and hedge funds.

About Eaton Corporation, PLC

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.

Analyst Recommendations for Eaton Corporation, PLC (NYSE:ETN)

What are top analysts saying about Eaton Corporation PLC? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Eaton Corporation PLC and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit