Eaton (ETN) Now Covered by Gordon Haskett

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Stock analysts at Gordon Haskett initiated coverage on shares of Eaton (NYSE:ETN) in a research note issued to investors on Friday, October 12th, Marketbeat Ratings reports. The brokerage set a “sell” rating on the industrial products company’s stock.

Several other brokerages also recently issued reports on ETN. UBS Group raised Eaton from a “neutral” rating to a “buy” rating and lifted their target price for the company from $91.00 to $100.00 in a research note on Friday, September 21st. Wells Fargo & Co reissued a “buy” rating on shares of Eaton in a research note on Wednesday, September 26th. Deutsche Bank lifted their target price on Eaton from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Friday, September 28th. Barclays lifted their target price on Eaton from $71.00 to $77.00 and gave the company an “underweight” rating in a research note on Wednesday, August 1st. Finally, Royal Bank of Canada reissued a “hold” rating and set a $80.00 target price on shares of Eaton in a research note on Tuesday, July 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $86.12.

Shares of NYSE:ETN opened at $73.24 on Friday. Eaton has a 52-week low of $67.70 and a 52-week high of $89.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.96 and a current ratio of 1.49. The stock has a market capitalization of $31.74 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.33 and a beta of 1.49.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $1.43 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.43. Eaton had a return on equity of 13.48% and a net margin of 10.06%. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same period in the previous year, the firm earned $1.25 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities analysts anticipate that Eaton will post 5.35 EPS for the current year.

In other Eaton news, insider Richard H. Fearon sold 25,000 shares of Eaton stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $83.29, for a total value of $2,082,250.00. Following the sale, the insider now owns 221,459 shares of the company’s stock, valued at approximately $18,445,320.11. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ken D. Semelsberger sold 11,500 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $86.57, for a total value of $995,555.00. Following the transaction, the insider now directly owns 78,883 shares in the company, valued at approximately $6,828,901.31. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,000 shares of company stock worth $4,617,645. Corporate insiders own 0.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ETN. Financial Architects Inc increased its position in shares of Eaton by 2,675.0% during the 3rd quarter. Financial Architects Inc now owns 1,221 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 1,177 shares during the last quarter. Reilly Financial Advisors LLC increased its position in shares of Eaton by 145.3% during the 3rd quarter. Reilly Financial Advisors LLC now owns 1,266 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 750 shares during the last quarter. Zions Bancorporation bought a new position in shares of Eaton during the 2nd quarter valued at approximately $113,000. Fort L.P. bought a new position in shares of Eaton during the 2nd quarter valued at approximately $116,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Eaton during the 2nd quarter valued at approximately $123,000. 77.79% of the stock is currently owned by hedge funds and other institutional investors.

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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