Eaton Corporation, PLC (ETN) Coverage Initiated at Buckingham Research

Equities researchers at Buckingham Research initiated coverage on shares of Eaton Corporation, PLC (NYSE:ETN) in a note issued to investors on Tuesday. The firm set a “neutral” rating and a $82.00 price target on the industrial products company’s stock. Buckingham Research’s price target suggests a potential upside of 5.17% from the company’s current price.

Several other analysts have also issued reports on ETN. JMP Securities started coverage on shares of Eaton Corporation, PLC in a research report on Monday, June 19th. They issued a “market perform” rating on the stock. Zacks Investment Research upgraded shares of Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Wednesday, July 5th. Stifel Nicolaus reiterated a “hold” rating and issued a $80.00 target price on shares of Eaton Corporation, PLC in a research report on Friday, July 7th. Wolfe Research started coverage on shares of Eaton Corporation, PLC in a research report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $78.00 target price on shares of Eaton Corporation, PLC in a research report on Wednesday, July 12th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $81.38.

Shares of Eaton Corporation, PLC (ETN) opened at 77.97 on Tuesday. The stock has a market cap of $34.68 billion, a PE ratio of 17.87 and a beta of 1.36. Eaton Corporation, PLC has a 52 week low of $59.07 and a 52 week high of $81.63. The firm has a 50-day moving average of $76.13 and a 200 day moving average of $76.05.

Eaton Corporation, PLC (NYSE:ETN) last announced its 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 company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the business earned $1.07 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts forecast that Eaton Corporation, PLC will post $4.60 EPS for the current fiscal year.

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In other Eaton Corporation, PLC news, Director Deborah L. Mccoy sold 6,450 shares of Eaton Corporation, PLC stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $73.17, for a total transaction of $471,946.50. Following the transaction, the director now directly owns 46,386 shares of the company’s stock, valued at $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 owned by insiders.

Hedge funds have recently modified their holdings of the business. Harfst & Associates Inc. purchased a new position in Eaton Corporation, PLC during the first quarter worth about $109,000. Captrust Financial Advisors purchased a new position in Eaton Corporation, PLC during the second quarter worth about $133,000. Guardian Life Insurance Co. of America raised its stake in Eaton Corporation, PLC by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,742 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 12 shares during the period. Citizens Financial Group Inc. RI raised its stake in Eaton Corporation, PLC by 168.8% during the first quarter. Citizens Financial Group Inc. RI now owns 2,059 shares of the industrial products company’s stock worth $153,000 after purchasing an additional 1,293 shares during the period. Finally, Acrospire Investment Management LLC raised its stake in Eaton Corporation, PLC by 325.9% during the second quarter. Acrospire Investment Management LLC now owns 2,091 shares of the industrial products company’s stock worth $163,000 after purchasing an additional 1,600 shares during the period. 75.84% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Eaton Corporation, PLC (NYSE:ETN)

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