Eaton Co. plc (NYSE:ETN) Receives Average Rating of “Buy” from Brokerages


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Shares of Eaton Co. plc (NYSE:ETN) have been given an average rating of “Buy” by the eighteen brokerages that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $119.22.

Several equities analysts recently weighed in on the stock. Oppenheimer lifted their target price on shares of Eaton from $118.00 to $133.00 and gave the company an “outperform” rating in a report on Wednesday, February 3rd. Credit Suisse Group boosted their target price on shares of Eaton from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 3rd. Bank of America raised shares of Eaton from a “neutral” rating to a “buy” rating and set a $135.00 target price for the company in a research report on Wednesday, November 11th. Royal Bank of Canada boosted their target price on shares of Eaton from $112.00 to $119.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 3rd. They noted that the move was a valuation call. Finally, HSBC raised shares of Eaton from a “hold” rating to a “buy” rating and boosted their target price for the stock from $103.00 to $140.00 in a research report on Tuesday, February 16th.

Shares of Eaton stock opened at $130.68 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average of $123.33 and a two-hundred day moving average of $112.47. Eaton has a 12-month low of $56.42 and a 12-month high of $131.72. The stock has a market cap of $52.09 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 2.34 and a beta of 1.12.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Monday, February 1st. The industrial products company reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.08. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.62 billion. Eaton had a net margin of 7.53% and a return on equity of 11.94%. The company’s revenue was down 10.5% on a year-over-year basis. During the same period last year, the company posted $1.37 EPS. On average, sell-side analysts forecast that Eaton will post 4.17 EPS for the current fiscal year.

In other news, Director Deborah L. Mccoy sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, December 4th. The shares were sold at an average price of $119.58, for a total transaction of $179,370.00. Following the sale, the director now owns 25,436 shares in the company, valued at $3,041,636.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in ETN. JPMorgan Chase & Co. increased its stake in shares of Eaton by 15.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,626,633 shares of the industrial products company’s stock worth $2,390,544,000 after purchasing an additional 3,243,644 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Eaton by 624.2% during the 4th quarter. Lazard Asset Management LLC now owns 905,233 shares of the industrial products company’s stock worth $108,754,000 after purchasing an additional 780,239 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Eaton by 3,073.8% during the 3rd quarter. Federated Hermes Inc. now owns 607,807 shares of the industrial products company’s stock worth $62,015,000 after purchasing an additional 588,656 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Eaton by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,809,749 shares of the industrial products company’s stock worth $697,984,000 after purchasing an additional 489,453 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Eaton by 12.1% during the 4th quarter. Wells Fargo & Company MN now owns 3,223,176 shares of the industrial products company’s stock worth $387,233,000 after buying an additional 349,100 shares during the period. Institutional investors own 77.88% of the company’s stock.

About Eaton

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

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Analyst Recommendations for Eaton (NYSE:ETN)

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