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

Eaton Co., PLC (NYSE:ETN) has received an average rating of “Hold” from the twenty analysts that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $86.85.

A number of research firms have weighed in on ETN. ValuEngine upgraded Eaton from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Jefferies Group restated a “hold” rating and set a $90.00 target price on shares of Eaton in a report on Friday, February 2nd. Zacks Investment Research upgraded Eaton from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Argus upgraded Eaton to a “buy” rating and upped their target price for the stock from $85.00 to $90.00 in a report on Thursday, February 8th. Finally, Bank of America lowered Eaton from a “buy” rating to an “underperform” rating in a report on Tuesday, October 17th.

Shares of Eaton (NYSE:ETN) traded down $0.14 during trading hours on Tuesday, reaching $81.88. The company had a trading volume of 472,097 shares, compared to its average volume of 3,001,137. Eaton has a 52 week low of $69.82 and a 52 week high of $89.85. The company has a market capitalization of $36,140.00, a PE ratio of 12.25, a P/E/G ratio of 1.94 and a beta of 1.38. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.13 and a current ratio of 1.65.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, February 1st. The industrial products company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.10 billion. Eaton had a return on equity of 12.84% and a net margin of 14.60%. Eaton’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.12 earnings per share. sell-side analysts anticipate that Eaton will post 5.14 EPS for the current fiscal year.

In other news, insider Curtis J. Hutchins sold 14,360 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $78.36, for a total transaction of $1,125,249.60. Following the completion of the sale, the insider now owns 26,596 shares in the company, valued at approximately $2,084,062.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles E. Golden sold 4,311 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $76.03, for a total value of $327,765.33. Following the sale, the director now owns 20,275 shares of the company’s stock, valued at approximately $1,541,508.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,745 shares of company stock valued at $2,233,669. Company insiders own 0.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of ETN. PGGM Investments raised its stake in Eaton by 142.1% in the 3rd quarter. PGGM Investments now owns 703,839 shares of the industrial products company’s stock worth $54,048,000 after acquiring an additional 413,096 shares during the last quarter. Foster & Motley Inc. raised its stake in Eaton by 109.7% in the 3rd quarter. Foster & Motley Inc. now owns 9,461 shares of the industrial products company’s stock worth $727,000 after acquiring an additional 4,949 shares during the last quarter. Denali Advisors LLC raised its stake in Eaton by 22.9% in the 3rd quarter. Denali Advisors LLC now owns 95,409 shares of the industrial products company’s stock worth $7,326,000 after acquiring an additional 17,800 shares during the last quarter. Whittier Trust Co. raised its stake in Eaton by 4.5% in the 3rd quarter. Whittier Trust Co. now owns 192,032 shares of the industrial products company’s stock worth $14,746,000 after acquiring an additional 8,275 shares during the last quarter. Finally, Nationwide Fund Advisors raised its stake in Eaton by 3.0% in the 3rd quarter. Nationwide Fund Advisors now owns 466,338 shares of the industrial products company’s stock worth $35,810,000 after acquiring an additional 13,419 shares during the last quarter. Institutional investors own 76.45% of the company’s stock.

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About Eaton

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 (NYSE:ETN)

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