Eaton Corporation, PLC (ETN) Given Consensus Rating of “Hold” by Brokerages
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.
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.
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