Eaton Corp. PLC (NYSE:ETN) Given Average Rating of “Hold” by Analysts
Eaton Corp. PLC (NYSE:ETN) has been assigned an average recommendation of “Hold” from the twenty-five analysts that are currently covering the firm. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $61.71.
Several equities analysts have recently commented on the company. Credit Suisse Group AG reiterated a “buy” rating on shares of Eaton Corp. PLC in a research report on Saturday, July 9th. HSBC started coverage on Eaton Corp. PLC in a report on Friday. They set a “buy” rating for the company. Zacks Investment Research cut Eaton Corp. PLC from a “buy” rating to a “hold” rating in a report on Friday, July 1st. Barclays PLC increased their target price on Eaton Corp. PLC from $67.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, August 3rd. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Eaton Corp. PLC in a report on Monday, June 27th.
Shares of Eaton Corp. PLC (NYSE:ETN) traded down 1.98% during mid-day trading on Friday, hitting $64.20. The stock had a trading volume of 939,807 shares. Eaton Corp. PLC has a 1-year low of $46.19 and a 1-year high of $68.20. The firm has a market capitalization of $29.19 billion, a PE ratio of 15.85 and a beta of 1.55. The stock’s 50-day moving average is $65.35 and its 200-day moving average is $63.09.
Eaton Corp. PLC (NYSE:ETN) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.07 EPS for the quarter, meeting the consensus estimate of $1.07. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.06 billion. Eaton Corp. PLC had a return on equity of 12.28% and a net margin of 9.29%. The company’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.16 EPS. Equities analysts expect that Eaton Corp. PLC will post $4.28 earnings per share for the current year.
In related news, Director Christopher M. Connor purchased 1,000 shares of Eaton Corp. PLC stock in a transaction that occurred on Friday, August 26th. The stock was purchased at an average cost of $67.23 per share, with a total value of $67,230.00. Following the completion of the transaction, the director now directly owns 13,650 shares in the company, valued at $917,689.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Richard H. Fearon sold 65,195 shares of the business’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $65.29, for a total transaction of $4,256,581.55. Following the completion of the sale, the insider now directly owns 276,386 shares of the company’s stock, valued at $18,045,241.94. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Virginia Retirement System bought a new stake in shares of Eaton Corp. PLC during the first quarter worth $469,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Eaton Corp. PLC by 268.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 18,331 shares of the company’s stock worth $1,147,000 after buying an additional 13,360 shares during the period. Teachers Advisors Inc. boosted its stake in shares of Eaton Corp. PLC by 5.3% in the first quarter. Teachers Advisors Inc. now owns 694,226 shares of the company’s stock worth $43,431,000 after buying an additional 34,789 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Eaton Corp. PLC by 2.8% in the first quarter. JPMorgan Chase & Co. now owns 5,555,621 shares of the company’s stock worth $347,559,000 after buying an additional 150,996 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of Eaton Corp. PLC by 350.1% in the first quarter. Bessemer Group Inc. now owns 112,962 shares of the company’s stock worth $7,066,000 after buying an additional 87,863 shares during the period. 74.34% of the stock is owned by hedge funds and other institutional investors.
Eaton Corp. 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.
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