Shares of Eaton Corporation, PLC (NYSE:ETN) have earned an average recommendation of “Hold” from the twenty-one ratings firms that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $83.08.
A number of research firms have recently commented on ETN. Zacks Investment Research cut Eaton from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Robert W. Baird raised Eaton from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $82.00 to $92.00 in a research note on Wednesday, January 3rd. Stifel Nicolaus reissued a “hold” rating and issued a $80.00 target price on shares of Eaton in a research note on Monday, December 11th. Citigroup increased their target price on Eaton from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Finally, Jefferies Group increased their target price on Eaton from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Wednesday, November 1st.
In other Eaton news, Director Christopher M. Connor sold 6,450 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $78.04, for a total value of $503,358.00. Following the transaction, the director now owns 20,100 shares of the company’s stock, valued at $1,568,604. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Revathi Advaithi sold 23,743 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $78.36, for a total value of $1,860,501.48. Following the completion of the transaction, the insider now directly owns 31,028 shares in the company, valued at approximately $2,431,354.08. The disclosure for this sale can be found here. Insiders have sold 58,938 shares of company stock worth $4,597,529 over the last ninety days. 0.80% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of ETN. Cable Hill Partners LLC lifted its holdings in Eaton by 174.8% in the third quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 867 shares during the period. Fieldpoint Private Securities LLC bought a new position in shares of Eaton in the third quarter worth about $130,000. Harfst & Associates Inc. raised its stake in shares of Eaton by 21.8% in the second quarter. Harfst & Associates Inc. now owns 1,798 shares of the industrial products company’s stock worth $139,000 after buying an additional 322 shares during the period. Carroll Financial Associates Inc. raised its stake in shares of Eaton by 113.6% in the fourth quarter. Carroll Financial Associates Inc. now owns 2,805 shares of the industrial products company’s stock worth $221,000 after buying an additional 1,492 shares during the period. Finally, Wealthsource Partners LLC bought a new position in shares of Eaton in the second quarter worth about $226,000. 76.54% of the stock is currently owned by institutional investors.
Eaton (NYSE ETN) traded down $0.04 during midday trading on Friday, hitting $83.56. The stock had a trading volume of 2,001,600 shares, compared to its average volume of 2,455,175. Eaton has a 52-week low of $66.98 and a 52-week high of $84.50. The stock has a market capitalization of $36,820.00, a PE ratio of 19.17, a P/E/G ratio of 1.96 and a beta of 1.38. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.43.
Eaton (NYSE:ETN) last released its earnings results on Tuesday, October 31st. The industrial products company reported $1.25 EPS for the quarter, hitting analysts’ consensus estimates of $1.25. Eaton had a return on equity of 12.89% and a net margin of 14.21%. The firm had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.12 billion. During the same period in the prior year, the firm posted $1.16 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. equities research analysts expect that Eaton will post 4.6 earnings per share for the current year.
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Eaton 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.
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