Investment analysts at Wolfe Research initiated coverage on shares of Eaton Corporation, PLC (NYSE:ETN) in a research report issued to clients and investors on Tuesday, July 11th. The firm set a “market perform” rating on the industrial products company’s stock.
Several other brokerages have also issued reports on ETN. Zacks Investment Research raised Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research report on Monday, June 5th. JMP Securities initiated coverage on Eaton Corporation, PLC in a research note on Monday, June 19th. They issued a “market perform” rating for the company. Argus restated a “buy” rating and issued a $85.00 target price (up from $83.00) on shares of Eaton Corporation, PLC in a research note on Tuesday, May 30th. Barclays PLC set a $81.00 price target on Eaton Corporation, PLC and gave the company a “hold” rating in a research note on Tuesday, May 2nd. Finally, ValuEngine upgraded Eaton Corporation, PLC from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. Eaton Corporation, PLC presently has a consensus rating of “Hold” and an average price target of $78.54.
Shares of Eaton Corporation, PLC (ETN) opened at 72.99 on Tuesday. Eaton Corporation, PLC has a 52-week low of $59.07 and a 52-week high of $81.63. The company’s 50 day moving average price is $78.02 and its 200 day moving average price is $74.85. The firm has a market capitalization of $32.47 billion, a price-to-earnings ratio of 16.73 and a beta of 1.35.
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. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.14 billion. Eaton Corporation, PLC had a return on equity of 12.93% and a net margin of 9.95%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 earnings per share. Analysts forecast that Eaton Corporation, PLC will post $4.61 earnings per share for the current year.
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A number of hedge funds have recently bought and sold shares of ETN. Lincoln Capital Corp acquired a new stake in Eaton Corporation, PLC during the fourth quarter valued at about $512,000. Pekin Singer Strauss Asset Management IL raised its stake in Eaton Corporation, PLC by 2.4% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 25,987 shares of the industrial products company’s stock valued at $1,743,000 after buying an additional 600 shares during the last quarter. HighPoint Advisor Group LLC raised its stake in Eaton Corporation, PLC by 130.4% in the fourth quarter. HighPoint Advisor Group LLC now owns 8,796 shares of the industrial products company’s stock valued at $644,000 after buying an additional 4,978 shares during the last quarter. Whalerock Point Partners LLC increased its position in shares of Eaton Corporation, PLC by 11.4% in the fourth quarter. Whalerock Point Partners LLC now owns 11,725 shares of the industrial products company’s stock valued at $787,000 after buying an additional 1,200 shares during the period. Finally, Kentucky Retirement Systems purchased a new position in shares of Eaton Corporation, PLC during the fourth quarter valued at approximately $2,199,000. Institutional investors and hedge funds own 76.59% of the company’s stock.
About Eaton Corporation, PLC
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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