Eaton (ETN) Coverage Initiated at Gordon Haskett

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Gordon Haskett began coverage on shares of Eaton (NYSE:ETN) in a research report released on Friday, Marketbeat Ratings reports. The brokerage issued a sell rating on the industrial products company’s stock.

A number of other research firms also recently weighed in on ETN. UBS Group upgraded Eaton from a neutral rating to a buy rating and boosted their target price for the stock from $91.00 to $100.00 in a research report on Friday, September 21st. ValuEngine downgraded Eaton from a hold rating to a sell rating in a research report on Monday, July 2nd. Zacks Investment Research upgraded Eaton from a hold rating to a buy rating and set a $91.00 target price for the company in a research report on Monday, August 6th. Deutsche Bank boosted their target price on Eaton from $95.00 to $102.00 and gave the stock a buy rating in a research report on Friday, September 28th. Finally, JPMorgan Chase & Co. upgraded Eaton from a neutral rating to an overweight rating and set a $92.00 target price for the company in a research report on Monday, August 13th. Two analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $88.67.

NYSE:ETN traded up $0.24 during mid-day trading on Friday, reaching $79.77. The stock had a trading volume of 3,419,244 shares, compared to its average volume of 2,740,199. The company has a market capitalization of $37.58 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.58 and a beta of 1.35. Eaton has a one year low of $71.62 and a one year high of $89.85. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.47 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last released its earnings results on Tuesday, July 31st. The industrial products company reported $1.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.07. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.45 billion. Eaton had a return on equity of 13.11% and a net margin of 14.80%. Eaton’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS. As a group, sell-side analysts anticipate that Eaton will post 5.36 EPS for the current year.

In other Eaton news, Director Deborah L. Mccoy sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $84.55, for a total value of $253,650.00. Following the completion of the sale, the director now owns 32,936 shares in the company, valued at $2,784,738.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard H. Fearon sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $83.29, for a total value of $2,082,250.00. Following the completion of the sale, the insider now owns 221,459 shares of the company’s stock, valued at approximately $18,445,320.11. The disclosure for this sale can be found here. Insiders sold 55,000 shares of company stock valued at $4,617,645 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Zions Bancorporation bought a new position in shares of Eaton during the second quarter valued at approximately $113,000. Fort L.P. bought a new position in shares of Eaton during the second quarter valued at approximately $116,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Eaton during the second quarter valued at approximately $123,000. Sun Life Financial INC raised its holdings in shares of Eaton by 1,153.5% during the second quarter. Sun Life Financial INC now owns 1,805 shares of the industrial products company’s stock valued at $135,000 after acquiring an additional 1,661 shares in the last quarter. Finally, Signet Financial Management LLC raised its holdings in shares of Eaton by 1,197.2% during the second quarter. Signet Financial Management LLC now owns 1,842 shares of the industrial products company’s stock valued at $138,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors own 77.54% of the company’s stock.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Analyst Recommendations for Eaton (NYSE:ETN)

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