Eaton Corporation, PLC (NYSE:ETN) – Jefferies Group lowered their Q3 2017 earnings per share (EPS) estimates for shares of Eaton Corporation, PLC in a research note issued on Friday. Jefferies Group analyst S. Volkmann now expects that the industrial products company will post earnings per share of $1.24 for the quarter, down from their previous forecast of $1.27. Jefferies Group currently has a “Hold” rating and a $75.00 target price on the stock. Jefferies Group also issued estimates for Eaton Corporation, PLC’s Q4 2017 earnings at $1.25 EPS, FY2017 earnings at $4.60 EPS, FY2018 earnings at $5.10 EPS and FY2019 earnings at $5.60 EPS.

Several other equities analysts have also weighed in on ETN. Bank of America Corporation lowered shares of Eaton Corporation, PLC from a “buy” rating to an “underperform” rating in a report on Tuesday, October 17th. Stifel Nicolaus reiterated a “hold” rating and set a $82.00 price objective on shares of Eaton Corporation, PLC in a report on Thursday, October 12th. Zacks Investment Research lowered shares of Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Citigroup Inc. upped their price objective on shares of Eaton Corporation, PLC from $88.00 to $90.00 and gave the company a “buy” rating in a report on Friday, October 13th. Finally, Morgan Stanley reiterated 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. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $81.38.

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Shares of Eaton Corporation, PLC (NYSE:ETN) opened at 78.93 on Monday. The firm has a market cap of $35.11 billion, a P/E ratio of 18.09 and a beta of 1.36. The company’s 50-day moving average price is $76.53 and its 200 day moving average price is $76.10. Eaton Corporation, PLC has a 52 week low of $59.07 and a 52 week high of $81.63.

Eaton Corporation, PLC (NYSE:ETN) last issued its quarterly earnings data 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). The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.14 billion. Eaton Corporation, PLC had a return on equity of 12.93% and a net margin of 9.95%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 EPS.

A number of hedge funds have recently modified their holdings of ETN. BlackRock Inc. grew its position in Eaton Corporation, PLC by 2,830.8% in the 1st quarter. BlackRock Inc. now owns 29,114,265 shares of the industrial products company’s stock worth $2,158,821,000 after purchasing an additional 28,120,890 shares in the last quarter. Bank of America Corp DE grew its position in Eaton Corporation, PLC by 17.0% in the 1st quarter. Bank of America Corp DE now owns 6,407,605 shares of the industrial products company’s stock worth $475,123,000 after purchasing an additional 932,400 shares in the last quarter. Wellington Management Group LLP grew its position in Eaton Corporation, PLC by 2.4% in the 1st quarter. Wellington Management Group LLP now owns 37,607,505 shares of the industrial products company’s stock worth $2,788,596,000 after purchasing an additional 875,616 shares in the last quarter. FMR LLC grew its position in Eaton Corporation, PLC by 9.5% in the 1st quarter. FMR LLC now owns 9,180,438 shares of the industrial products company’s stock worth $680,729,000 after purchasing an additional 794,975 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Eaton Corporation, PLC by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 30,348,561 shares of the industrial products company’s stock worth $2,250,347,000 after purchasing an additional 695,285 shares in the last quarter. 75.84% of the stock is owned by institutional investors and hedge funds.

In related news, Director Deborah L. Mccoy sold 6,450 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $73.17, for a total value of $471,946.50. Following the sale, the director now owns 46,386 shares in the company, valued at approximately $3,394,063.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.80% 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.

Earnings History and Estimates for Eaton Corporation, PLC (NYSE:ETN)

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