Eaton Corporation, PLC (NYSE:ETN)‘s stock had its “hold” rating reaffirmed by equities research analysts at Jefferies Group LLC in a report released on Thursday. They currently have a $75.00 price objective on the industrial products company’s stock. Jefferies Group LLC’s target price would suggest a potential upside of 5.32% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Argus reaffirmed a “buy” rating and issued a $85.00 price objective (up previously from $83.00) on shares of Eaton Corporation, PLC in a report on Tuesday, May 30th. Zacks Investment Research raised Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Friday, May 26th. BidaskClub lowered Eaton Corporation, PLC from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Stifel Nicolaus reissued a “hold” rating and set a $80.00 price target on shares of Eaton Corporation, PLC in a research note on Friday, July 7th. Finally, J P Morgan Chase & Co lowered Eaton Corporation, PLC from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $73.00 to $70.00 in a research note on Thursday, August 17th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. Eaton Corporation, PLC has a consensus rating of “Hold” and a consensus price target of $78.54.

Eaton Corporation, PLC (NYSE ETN) opened at 71.21 on Thursday. Eaton Corporation, PLC has a 1-year low of $59.07 and a 1-year high of $81.63. The company has a market cap of $31.67 billion, a P/E ratio of 16.33 and a beta of 1.35. The stock has a 50 day moving average price of $76.24 and a 200 day moving average price of $75.13.

Eaton Corporation, PLC (NYSE:ETN) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $1.15 earnings per share for the quarter, missing the Zacks’ 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 period in the prior year, the firm posted $1.07 EPS. Eaton Corporation, PLC’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Eaton Corporation, PLC will post $4.61 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently modified their holdings of ETN. BlackRock Inc. increased its position in shares of 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 valued at $2,158,821,000 after buying an additional 28,120,890 shares in the last quarter. Boston Partners increased its position in shares of Eaton Corporation, PLC by 286.0% in the first quarter. Boston Partners now owns 7,227,300 shares of the industrial products company’s stock valued at $535,904,000 after buying an additional 5,354,998 shares during the period. Bank of America Corp DE increased its position in shares of Eaton Corporation, PLC by 17.0% in the first quarter. Bank of America Corp DE now owns 6,407,605 shares of the industrial products company’s stock valued at $475,123,000 after buying an additional 932,400 shares during the period. Wellington Management Group LLP increased its position in shares of 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 valued at $2,788,596,000 after buying an additional 875,616 shares during the period. Finally, FMR LLC increased its position in shares of 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 valued at $680,729,000 after buying an additional 794,975 shares during the period. Hedge funds and other institutional investors own 76.78% of the company’s stock.

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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