Eaton Corporation, PLC (NYSE:ETN) has been assigned an average recommendation of “Hold” from the twenty-one research firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $80.27.

Several equities analysts have recently issued reports on the company. JMP Securities assumed coverage on Eaton Corporation, PLC in a research note on Monday, June 19th. They issued a “market perform” rating on the stock. Morgan Stanley reissued an “overweight” rating and set a $88.00 price objective (up previously from $87.00) on shares of Eaton Corporation, PLC in a report on Monday, October 2nd. Zacks Investment Research downgraded Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a report on Monday, July 31st. BidaskClub downgraded Eaton Corporation, PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $78.00 price objective on shares of Eaton Corporation, PLC in a report on Wednesday, July 12th.

Eaton Corporation, PLC (NYSE ETN) traded up 0.71% during trading on Wednesday, reaching $78.53. The company’s stock had a trading volume of 2,355,811 shares. The stock has a market cap of $34.93 billion, a P/E ratio of 18.00 and a beta of 1.36. The company’s 50 day moving average price is $74.83 and its 200-day moving average price is $75.86. 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 issued its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $1.15 earnings per share (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 the consensus estimate of $5.14 billion. During the same quarter in the previous year, the business posted $1.07 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts forecast that Eaton Corporation, PLC will post $4.60 earnings per share for the current fiscal year.

In other news, Director Deborah L. Mccoy sold 6,450 shares of Eaton Corporation, PLC stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $73.17, for a total value of $471,946.50. Following the completion of the transaction, the director now directly owns 46,386 shares of the company’s stock, valued at approximately $3,394,063.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Harfst & Associates Inc. bought a new position in shares of Eaton Corporation, PLC in the 1st quarter worth about $109,000. Guardian Life Insurance Co. of America raised its position in shares of Eaton Corporation, PLC by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,742 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 12 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Eaton Corporation, PLC in the 2nd quarter worth about $133,000. Citizens Financial Group Inc. RI raised its position in shares of Eaton Corporation, PLC by 168.8% in the 1st quarter. Citizens Financial Group Inc. RI now owns 2,059 shares of the industrial products company’s stock worth $153,000 after acquiring an additional 1,293 shares in the last quarter. Finally, Acrospire Investment Management LLC raised its position in shares of Eaton Corporation, PLC by 325.9% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,091 shares of the industrial products company’s stock worth $163,000 after acquiring an additional 1,600 shares in the last quarter. 75.87% of the stock is owned by hedge funds and other institutional investors.

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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)

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