Q3 2017 EPS Estimates for Eaton Corporation, PLC (ETN) Reduced by Analyst

Eaton Corporation, PLC (NYSE:ETN) – Investment analysts at William Blair reduced their Q3 2017 earnings estimates for shares of Eaton Corporation, PLC in a research report issued to clients and investors on Friday. William Blair analyst N. Heymann now expects that the industrial products company will post earnings of $1.27 per share for the quarter, down from their prior estimate of $1.30. William Blair also issued estimates for Eaton Corporation, PLC’s FY2017 earnings at $4.57 EPS and FY2018 earnings at $5.02 EPS.

Several other equities analysts also recently weighed in on the stock. ValuEngine upgraded shares of Eaton Corporation, PLC from a “hold” rating to a “buy” rating in a report on Friday, September 15th. Stifel Nicolaus restated a “hold” rating and set a $80.00 target price on shares of Eaton Corporation, PLC in a report on Friday, July 7th. Jefferies Group LLC restated a “hold” rating and set a $75.00 target price on shares of Eaton Corporation, PLC in a report on Thursday, August 24th. J P Morgan Chase & Co downgraded shares of Eaton Corporation, PLC from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $73.00 to $70.00 in a report on Thursday, August 17th. Finally, BidaskClub downgraded shares of Eaton Corporation, PLC from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. Eaton Corporation, PLC currently has an average rating of “Hold” and a consensus price target of $81.38.

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Eaton Corporation, PLC (NYSE:ETN) opened at 78.07 on Monday. The company’s 50-day moving average is $75.60 and its 200-day moving average is $75.97. Eaton Corporation, PLC has a 52-week low of $59.07 and a 52-week high of $81.63. The firm has a market capitalization of $34.73 billion, a price-to-earnings ratio of 17.90 and a beta of 1.36.

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). Eaton Corporation, PLC had a net margin of 9.95% and a return on equity of 12.93%. The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the business earned $1.07 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year.

Several institutional investors have recently added to or reduced their stakes in the business. Wealthsource Partners LLC acquired a new stake in shares of Eaton Corporation, PLC during the 2nd quarter worth about $226,000. Sterling Capital Management LLC boosted its stake in shares of Eaton Corporation, PLC by 1.6% during the 2nd quarter. Sterling Capital Management LLC now owns 130,072 shares of the industrial products company’s stock worth $10,124,000 after purchasing an additional 2,053 shares during the last quarter. Colonial Trust Advisors boosted its stake in shares of Eaton Corporation, PLC by 89.9% during the 2nd quarter. Colonial Trust Advisors now owns 32,466 shares of the industrial products company’s stock worth $2,527,000 after purchasing an additional 15,371 shares during the last quarter. Sandhill Capital Partners LLC boosted its stake in shares of Eaton Corporation, PLC by 1.9% during the 2nd quarter. Sandhill Capital Partners LLC now owns 239,555 shares of the industrial products company’s stock worth $18,645,000 after purchasing an additional 4,458 shares during the last quarter. Finally, Cibc World Markets Corp boosted its stake in shares of Eaton Corporation, PLC by 34.6% during the 2nd quarter. Cibc World Markets Corp now owns 63,203 shares of the industrial products company’s stock worth $4,919,000 after purchasing an additional 16,252 shares during the last quarter. 75.84% of the stock is currently owned by institutional investors.

In other Eaton Corporation, PLC news, Director Deborah L. Mccoy sold 6,450 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $73.17, for a total transaction of $471,946.50. Following the sale, the director now directly owns 46,386 shares of the company’s stock, valued at approximately $3,394,063.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is owned by company insiders.

Eaton Corporation, PLC Company Profile

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.

Earnings History and Estimates for Eaton Corporation, PLC (NYSE:ETN)

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