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Shares of Eaton Co., PLC (NYSE:ETN) fell 6.1% during mid-day trading on Tuesday following a weaker than expected earnings announcement, AnalystRatingsNetwork reports. The company traded as low as $71.71 and last traded at $72.08, with a volume of 6,042,342 shares traded. The stock had previously closed at $76.75.

The company reported $1.11 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.15 by $0.04. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.78 billion. During the same quarter last year, the company posted $1.09 earnings per share. Eaton Co., PLC’s revenue was up 2.9% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, August 22nd. Shareholders of record on Monday, August 4th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, July 31st.

ETN has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Eaton Co., PLC in a research note on Thursday, July 10th. They now have a $82.00 price target on the stock. Separately, analysts at Oppenheimer raised their price target on shares of Eaton Co., PLC from $85.00 to $88.00 in a research note on Wednesday, July 2nd. They now have an “outperform” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Eaton Co., PLC in a research note on Tuesday, June 24th. They now have a $88.00 price target on the stock, up previously from $78.00. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $81.87.

The stock has a 50-day moving average of $77.32 and a 200-day moving average of $74.45. The company has a market cap of $33.612 billion and a P/E ratio of 19.05.

Eaton Corporation (NYSE:ETN) is a diversified power management company.

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