Eaton Corporation, PLC (NYSE:ETN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “Shares of the company returned higher than the broader industry in the last twelve months. Eaton Corporation is expected to benefit from the gradual improvement in the end-market conditions and organic growth from its end markets. Wide market reach also ensures sustained revenue generation. Its restructuring activities will drive performance and help Eaton to achieve its new guidance for the year. Consistent R&D investments will help it to create new products and provide better electrical solutions to its customers. However, negative currency translation is expected to have an adverse impact on the company’s results, as was the case last year. In addition, Eaton’s vast operation exposes it to cyber-attacks and security breaches, which could impact the operations of the company.”
Other research analysts also recently issued research reports about the stock. Argus restated a “buy” rating and set a $85.00 price objective (up previously from $83.00) on shares of Eaton Corporation, PLC in a report on Tuesday, May 30th. Citigroup Inc. boosted their price objective on shares of Eaton Corporation, PLC from $80.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, April 3rd. Jefferies Group LLC restated a “hold” rating and set a $75.00 price objective on shares of Eaton Corporation, PLC in a report on Tuesday, May 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $80.00 target price on shares of Eaton Corporation, PLC in a research note on Friday, July 7th. Finally, BidaskClub cut shares of Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. Eaton Corporation, PLC has an average rating of “Hold” and an average price target of $78.54.
Eaton Corporation, PLC (NYSE ETN) opened at 74.26 on Monday. The firm has a 50-day moving average of $78.18 and a 200-day moving average of $74.86. The company has a market cap of $33.22 billion, a PE ratio of 17.30 and a beta of 1.35. Eaton Corporation, PLC has a one year low of $59.07 and a one year high of $81.63.
Eaton Corporation, PLC (NYSE:ETN) last posted its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by $0.01. Eaton Corporation, PLC had a return on equity of 12.82% and a net margin of 9.86%. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts predict that Eaton Corporation, PLC will post $4.66 EPS for the current year.
In other Eaton Corporation, PLC news, insider Uday Yadav sold 3,034 shares of the business’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $76.08, for a total value of $230,826.72. Following the transaction, the insider now directly owns 22,601 shares in the company, valued at $1,719,484.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Richard H. Fearon sold 25,000 shares of the business’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $76.24, for a total transaction of $1,906,000.00. Following the completion of the transaction, the insider now owns 236,497 shares in the company, valued at $18,030,531.28. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Murphy Capital Management Inc. purchased a new position in Eaton Corporation, PLC during the first quarter worth approximately $237,000. Koshinski Asset Management Inc. raised its position in shares of Eaton Corporation, PLC by 0.3% in the first quarter. Koshinski Asset Management Inc. now owns 5,723 shares of the industrial products company’s stock worth $424,000 after buying an additional 17 shares during the last quarter. Dynamic Advisors Solutions LLC raised its position in shares of Eaton Corporation, PLC by 0.5% in the first quarter. Dynamic Advisors Solutions LLC now owns 4,937 shares of the industrial products company’s stock worth $366,000 after buying an additional 23 shares during the last quarter. Gillespie Robinson & Grimm Inc. raised its position in shares of Eaton Corporation, PLC by 0.3% in the first quarter. Gillespie Robinson & Grimm Inc. now owns 340,962 shares of the industrial products company’s stock worth $25,282,000 after buying an additional 975 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC raised its position in shares of Eaton Corporation, PLC by 8.2% in the first quarter. Douglass Winthrop Advisors LLC now owns 6,611 shares of the industrial products company’s stock worth $490,000 after buying an additional 502 shares during the last quarter. Hedge funds and other institutional investors own 76.32% of the company’s stock.
Eaton Corporation, PLC Company Profile
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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