Eaton Corporation, PLC (ETN) Price Target Raised to $90.00 at Citigroup Inc.
Eaton Corporation, PLC (NYSE:ETN) had its price objective boosted by stock analysts at Citigroup Inc. from $88.00 to $90.00 in a research note issued on Friday. The brokerage presently has a “buy” rating on the industrial products company’s stock. Citigroup Inc.’s price objective would indicate a potential upside of 14.33% from the stock’s previous close.
ETN has been the topic of several other reports. Wolfe Research started coverage on shares of Eaton Corporation, PLC in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. BidaskClub downgraded shares of Eaton Corporation, PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research raised shares of Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a report on Wednesday, July 5th. Jefferies Group LLC reissued a “hold” rating and set a $75.00 price target on shares of Eaton Corporation, PLC in a report on Thursday, August 24th. Finally, JMP Securities started coverage on shares of Eaton Corporation, PLC in a report on Monday, June 19th. They set a “market perform” rating on the stock. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $81.33.
Shares of Eaton Corporation, PLC (NYSE ETN) traded up 0.20% during trading on Friday, hitting $78.88. 488,441 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $75.23 and a 200-day moving average price of $75.90. Eaton Corporation, PLC has a one year low of $59.07 and a one year high of $81.63. The stock has a market cap of $35.09 billion, a P/E ratio of 18.08 and a beta of 1.36.
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 Zacks’ 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 company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the company posted $1.07 EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts expect that Eaton Corporation, PLC will post $4.60 EPS for the current fiscal year.
In other Eaton Corporation, PLC news, Director Deborah L. Mccoy sold 6,450 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $73.17, for a total transaction of $471,946.50. Following the sale, the director now directly owns 46,386 shares in the company, valued at approximately $3,394,063.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Harfst & Associates Inc. purchased a new stake in shares of Eaton Corporation, PLC during the 1st quarter worth $109,000. Captrust Financial Advisors purchased a new stake in shares of Eaton Corporation, PLC in the 2nd quarter worth about $133,000. Guardian Life Insurance Co. of America boosted 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 buying an additional 12 shares in the last quarter. Citizens Financial Group Inc. RI boosted 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 buying an additional 1,293 shares in the last quarter. Finally, Acrospire Investment Management LLC boosted 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 buying an additional 1,600 shares in the last quarter. Institutional investors own 75.87% of the company’s stock.
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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