Eaton Corporation, PLC (ETN) Rating Reiterated by Stifel Nicolaus

Eaton Corporation, PLC (NYSE:ETN)‘s stock had its “hold” rating reiterated by research analysts at Stifel Nicolaus in a research note issued to investors on Friday. They presently have a $85.00 target price on the industrial products company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 8.83% from the company’s current price.

A number of other brokerages also recently issued reports on ETN. Morgan Stanley reissued an “overweight” rating and issued a $88.00 price target (up from $87.00) on shares of Eaton Corporation, PLC in a report on Monday, October 2nd. Jefferies Group LLC restated a “hold” rating and issued a $75.00 price objective on shares of Eaton Corporation, PLC in a research report on Thursday, August 24th. Credit Suisse Group restated an “outperform” rating and issued a $92.00 price objective (up from $86.00) on shares of Eaton Corporation, PLC in a research report on Wednesday. BidaskClub cut shares of Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Bank of America Corporation cut shares of Eaton Corporation, PLC from a “buy” rating to an “underperform” rating in a research report on Tuesday, October 17th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. Eaton Corporation, PLC has an average rating of “Hold” and an average price target of $82.86.

Shares of Eaton Corporation, PLC (NYSE ETN) traded down $1.28 during trading on Friday, hitting $78.10. 4,477,267 shares of the stock were exchanged, compared to its average volume of 2,543,273. The stock has a market capitalization of $34,410.86, a PE ratio of 17.43, a P/E/G ratio of 1.92 and a beta of 1.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.43 and a quick ratio of 0.81.

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

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In other news, Director Deborah L. Mccoy sold 6,450 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $73.17, for a total value of $471,946.50. Following the transaction, the director now owns 46,386 shares in the company, valued at $3,394,063.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.80% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of ETN. Thrivent Financial For Lutherans grew its holdings in shares of Eaton Corporation, PLC by 4.6% in the first quarter. Thrivent Financial For Lutherans now owns 16,474 shares of the industrial products company’s stock worth $1,222,000 after purchasing an additional 730 shares during the last quarter. Foresters Investment Management Company Inc. grew its holdings in shares of Eaton Corporation, PLC by 2.6% in the first quarter. Foresters Investment Management Company Inc. now owns 79,406 shares of the industrial products company’s stock worth $5,888,000 after purchasing an additional 2,006 shares during the last quarter. Global X Management Co. LLC grew its holdings in shares of Eaton Corporation, PLC by 70.2% in the first quarter. Global X Management Co. LLC now owns 6,324 shares of the industrial products company’s stock worth $469,000 after purchasing an additional 2,608 shares during the last quarter. Guardian Life Insurance Co. of America grew its holdings in shares of Eaton Corporation, PLC by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,742 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 12 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 695,285 shares during the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.

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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