Eaton Corporation, PLC (NYSE:ETN) was downgraded by analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a research note issued to investors on Thursday, The Fly reports.

Several other brokerages have also commented on ETN. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $78.00 price target on shares of Eaton Corporation, PLC in a research note on Wednesday, July 12th. Wolfe Research assumed coverage on Eaton Corporation, PLC in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $80.00 price target on shares of Eaton Corporation, PLC in a research note on Friday, July 7th. BidaskClub lowered Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Zacks Investment Research lowered Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Eaton Corporation, PLC has a consensus rating of “Hold” and a consensus price target of $78.54.

Shares of Eaton Corporation, PLC (ETN) opened at 72.67 on Thursday. The stock has a market cap of $32.32 billion, a price-to-earnings ratio of 16.66 and a beta of 1.35. The firm has a 50-day moving average price of $77.08 and a 200-day moving average price of $75.09. Eaton Corporation, PLC has a 1-year low of $59.07 and a 1-year high of $81.63.

Eaton Corporation, PLC (NYSE:ETN) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $1.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by $0.01. Eaton Corporation, PLC had a net margin of 9.95% and a return on equity of 12.93%. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same period last year, the company earned $1.07 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts forecast that Eaton Corporation, PLC will post $4.61 EPS for the current year.

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Large investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its stake in shares of Eaton Corporation, PLC by 9.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,402 shares of the industrial products company’s stock valued at $104,000 after buying an additional 120 shares during the period. Harfst & Associates Inc. bought a new stake in shares of Eaton Corporation, PLC during the first quarter valued at $109,000. Guardian Life Insurance Co. of America increased its stake 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 valued at $129,000 after buying an additional 12 shares during the period. Captrust Financial Advisors bought a new stake in shares of Eaton Corporation, PLC during the second quarter valued at $133,000. Finally, Crestwood Advisors Group LLC bought a new stake in shares of Eaton Corporation, PLC during the first quarter valued at $137,000. Institutional investors own 76.78% 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.

The Fly

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

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