Eaton Corp. PLC (NYSE:ETN) has been given an average rating of “Hold” by the twenty-five ratings firms that are currently covering the firm. Three equities research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $61.71.
A number of research firms have weighed in on ETN. Deutsche Bank AG restated a “hold” rating and issued a $65.00 price target on shares of Eaton Corp. PLC in a research note on Thursday, August 25th. Argus upgraded Eaton Corp. PLC from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, August 10th. They noted that the move was a valuation call. HSBC began coverage on Eaton Corp. PLC in a research note on Friday. They issued a “buy” rating for the company. Jefferies Group restated a “hold” rating on shares of Eaton Corp. PLC in a research note on Friday, August 5th. Finally, Barclays PLC raised their price target on Eaton Corp. PLC from $67.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 3rd.
Eaton Corp. PLC (NYSE:ETN) opened at 64.48 on Friday. The firm has a market capitalization of $29.32 billion, a price-to-earnings ratio of 15.92 and a beta of 1.55. The company has a 50 day moving average price of $65.26 and a 200-day moving average price of $63.10. Eaton Corp. PLC has a 52 week low of $46.19 and a 52 week high of $68.20.
Eaton Corp. PLC (NYSE:ETN) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.07 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.07. The firm earned $5.10 billion during the quarter, compared to the consensus estimate of $5.06 billion. Eaton Corp. PLC had a return on equity of 12.28% and a net margin of 9.29%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company earned $1.16 earnings per share. Equities analysts predict that Eaton Corp. PLC will post $4.28 earnings per share for the current year.
In other news, Director Dorothy C. Thompson acquired 550 shares of Eaton Corp. PLC stock in a transaction that occurred on Friday, August 19th. The shares were acquired at an average price of $67.32 per share, for a total transaction of $37,026.00. Following the transaction, the director now directly owns 550 shares of the company’s stock, valued at approximately $37,026. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard H. Fearon sold 65,195 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $65.29, for a total value of $4,256,581.55. Following the sale, the insider now owns 276,386 shares in the company, valued at approximately $18,045,241.94. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.
A number of large investors have recently modified their holdings of ETN. Lazard Asset Management LLC raised its stake in shares of Eaton Corp. PLC by 214.7% in the first quarter. Lazard Asset Management LLC now owns 5,307,945 shares of the company’s stock worth $332,064,000 after buying an additional 3,621,506 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Eaton Corp. PLC during the second quarter worth $55,112,000. Prudential Financial Inc. raised its stake in shares of Eaton Corp. PLC by 35.0% in the second quarter. Prudential Financial Inc. now owns 2,776,794 shares of the company’s stock worth $165,858,000 after buying an additional 720,545 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Eaton Corp. PLC by 2.1% in the second quarter. Vanguard Group Inc. now owns 27,938,793 shares of the company’s stock worth $1,668,784,000 after buying an additional 571,217 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of Eaton Corp. PLC by 6.3% in the second quarter. BlackRock Fund Advisors now owns 9,085,759 shares of the company’s stock worth $542,692,000 after buying an additional 535,659 shares in the last quarter. Institutional investors and hedge funds own 74.34% of the company’s stock.
About Eaton Corp. 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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