Morgan Stanley reiterated their overweight rating on shares of Eaton Corporation, PLC (NYSE:ETN) in a report released on Monday. The brokerage currently has a $88.00 price target on the industrial products company’s stock, up from their prior price target of $87.00.

Several other research analysts also recently commented on ETN. Zacks Investment Research upgraded Eaton Corporation, PLC from a hold rating to a buy rating and set a $87.00 target price for the company in a research note on Wednesday, July 5th. ValuEngine upgraded Eaton Corporation, PLC from a hold rating to a buy rating in a research note on Friday, September 15th. Jefferies Group LLC reiterated a hold rating and set a $75.00 target price on shares of Eaton Corporation, PLC in a research note on Thursday, August 24th. Stifel Nicolaus reiterated a hold rating and set a $80.00 target price on shares of Eaton Corporation, PLC in a research note on Friday, July 7th. Finally, BidaskClub downgraded Eaton Corporation, PLC from a buy rating to a hold rating in a research note on Monday, July 24th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. Eaton Corporation, PLC presently has an average rating of Hold and a consensus price target of $80.31.

Shares of Eaton Corporation, PLC (ETN) opened at 78.06 on Monday. The stock has a 50 day moving average price of $74.13 and a 200 day moving average price of $75.69. Eaton Corporation, PLC has a 52-week low of $59.07 and a 52-week high of $81.63. The company has a market capitalization of $34.72 billion, a PE ratio of 17.90 and a beta of 1.36.

Eaton Corporation, PLC (NYSE:ETN) last posted 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). The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.14 billion. Eaton Corporation, PLC had a return on equity of 12.93% and a net margin of 9.95%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the firm earned $1.07 EPS. On average, analysts predict that Eaton Corporation, PLC will post $4.61 earnings per share for the current fiscal year.

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In related news, Director Deborah L. Mccoy sold 6,450 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $73.17, for a total value of $471,946.50. Following the completion of the sale, the director now directly owns 46,386 shares in the company, valued at approximately $3,394,063.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.80% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jaffetilchin Investment Partners LLC lifted its position in shares of Eaton Corporation, PLC by 16.2% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 16,637 shares of the industrial products company’s stock valued at $1,234,000 after acquiring an additional 2,319 shares during the period. State of Tennessee Treasury Department lifted its position in shares of Eaton Corporation, PLC by 105.7% during the 1st quarter. State of Tennessee Treasury Department now owns 289,234 shares of the industrial products company’s stock valued at $21,447,000 after acquiring an additional 148,653 shares during the period. Blue Chip Partners Inc. lifted its position in shares of Eaton Corporation, PLC by 30.3% during the 1st quarter. Blue Chip Partners Inc. now owns 28,054 shares of the industrial products company’s stock valued at $2,080,000 after acquiring an additional 6,528 shares during the period. Holderness Investments Co. lifted its position in shares of Eaton Corporation, PLC by 0.7% during the 1st quarter. Holderness Investments Co. now owns 7,231 shares of the industrial products company’s stock valued at $536,000 after acquiring an additional 50 shares during the period. Finally, Jackson Wealth Management LLC lifted its position in shares of Eaton Corporation, PLC by 6.6% during the 1st quarter. Jackson Wealth Management LLC now owns 32,576 shares of the industrial products company’s stock valued at $2,429,000 after acquiring an additional 2,003 shares during the period. Institutional investors and hedge funds own 75.87% of the company’s stock.

About Eaton Corporation, PLC

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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