Eaton Corporation, PLC (NYSE:ETN)‘s stock had its “hold” rating restated by research analysts at Stifel Nicolaus in a note issued to investors on Friday, July 7th. They currently have a $80.00 target price on the industrial products company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 8.68% from the stock’s current price.

ETN has been the subject of several other research reports. Royal Bank Of Canada restated a “hold” rating and issued a $73.00 price target on shares of Eaton Corporation, PLC in a research note on Sunday, March 12th. Barclays PLC set a $81.00 price objective on Eaton Corporation, PLC and gave the stock a “hold” rating in a research note on Tuesday, May 2nd. Credit Suisse Group reiterated a “buy” rating on shares of Eaton Corporation, PLC in a research note on Tuesday, March 28th. Longbow Research upgraded Eaton Corporation, PLC from a “neutral” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Tuesday, April 4th. Finally, Zacks Investment Research upgraded Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research note on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $78.54.

Shares of Eaton Corporation, PLC (NYSE:ETN) traded up 1.11% during mid-day trading on Friday, hitting $74.43. The stock had a trading volume of 2,235,994 shares. Eaton Corporation, PLC has a 12 month low of $59.07 and a 12 month high of $81.63. The stock’s 50-day moving average is $78.18 and its 200 day moving average is $74.86. The company has a market cap of $33.11 billion, a PE ratio of 17.06 and a beta of 1.35.

Eaton Corporation, PLC (NYSE:ETN) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $1.15 earnings per share 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 business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. Eaton Corporation, PLC’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts forecast that Eaton Corporation, PLC will post $4.63 earnings per share for the current fiscal year.

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Several hedge funds have recently bought and sold shares of ETN. Wellington Management Group LLP raised its stake in Eaton Corporation, PLC by 2.4% in the first quarter. Wellington Management Group LLP now owns 37,607,505 shares of the industrial products company’s stock worth $2,788,596,000 after buying an additional 875,616 shares in the last quarter. Vanguard Group Inc. raised its stake in Eaton Corporation, PLC by 2.3% in the first quarter. Vanguard Group Inc. now owns 30,348,561 shares of the industrial products company’s stock worth $2,250,347,000 after buying an additional 695,285 shares in the last quarter. BlackRock Inc. raised its stake in Eaton Corporation, PLC by 2,830.8% in the first quarter. BlackRock Inc. now owns 29,114,265 shares of the industrial products company’s stock worth $2,158,821,000 after buying an additional 28,120,890 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Eaton Corporation, PLC by 1.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,762,234 shares of the industrial products company’s stock worth $723,870,000 after buying an additional 170,461 shares in the last quarter. Finally, FMR LLC raised its stake in Eaton Corporation, PLC by 9.5% in the first quarter. FMR LLC now owns 9,180,438 shares of the industrial products company’s stock worth $680,729,000 after buying an additional 794,975 shares in the last quarter. 76.32% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Eaton Corporation, PLC (NYSE:ETN)

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