Eaton Corporation, PLC (NYSE:ETN) – Equities researchers at William Blair dropped their Q3 2017 earnings estimates for shares of Eaton Corporation, PLC in a note issued to investors on Friday. William Blair analyst N. Heymann now anticipates that the industrial products company will post earnings of $1.27 per share for the quarter, down from their prior estimate of $1.30. William Blair also issued estimates for Eaton Corporation, PLC’s FY2017 earnings at $4.57 EPS and FY2018 earnings at $5.02 EPS.

ETN has been the topic of a number of other research reports. Royal Bank Of Canada reiterated a “hold” rating and issued a $78.00 price objective on shares of Eaton Corporation, PLC in a research note on Wednesday, July 12th. Wolfe Research started coverage on shares of Eaton Corporation, PLC in a research note on Tuesday, July 11th. They issued a “market perform” rating for the company. Stifel Nicolaus reiterated a “hold” rating and issued a $80.00 target price on shares of Eaton Corporation, PLC in a research note on Friday, July 7th. Citigroup Inc. upped their target price on shares of Eaton Corporation, PLC from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday. Finally, BidaskClub downgraded shares of Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $81.33.

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Shares of Eaton Corporation, PLC (NYSE:ETN) opened at 79.23 on Monday. The company has a 50 day moving average price of $75.60 and a 200-day moving average price of $75.97. Eaton Corporation, PLC has a 12-month low of $59.07 and a 12-month high of $81.63. The firm has a market cap of $35.24 billion, a PE ratio of 18.16 and a beta of 1.36.

Eaton Corporation, PLC (NYSE:ETN) last released its earnings results on Tuesday, August 1st. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.01). Eaton Corporation, PLC had a return on equity of 12.93% and a net margin of 9.95%. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis.

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

Hedge funds have recently modified their holdings of the business. 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 valued at $2,788,596,000 after buying an additional 875,616 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of 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 valued at $2,250,347,000 after purchasing an additional 695,285 shares during the period. BlackRock Inc. increased its holdings 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 purchasing an additional 28,120,890 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of 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 valued at $723,870,000 after purchasing an additional 170,461 shares during the period. Finally, FMR LLC increased its holdings 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 purchasing an additional 794,975 shares during the period. Institutional investors and hedge funds own 75.84% 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.

Earnings History and Estimates for Eaton Corporation, PLC (NYSE:ETN)

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