The Eaton Corp. PLC (ETN) Earns Buy Rating from Analysts at HSBC

The Eaton Corp. PLC (ETN) Earns Buy Rating from Analysts at HSBC

HSBC initiated coverage on shares of Eaton Corp. PLC (NYSE:ETN) in a research report released on Friday morning. The brokerage issued a buy rating and a $74.00 target price on the stock.

A number of other research analysts have also recently weighed in on ETN. Sanford C. Bernstein reaffirmed a market perform rating on shares of Eaton Corp. PLC in a report on Monday, June 27th. Zacks Investment Research cut shares of Eaton Corp. PLC from a buy rating to a hold rating in a report on Friday, July 1st. Credit Suisse Group AG reiterated a buy rating on shares of Eaton Corp. PLC in a research report on Saturday, July 9th. Bank of America Corp. lowered shares of Eaton Corp. PLC from a buy rating to a neutral rating and set a $65.00 target price on the stock. in a research report on Thursday, July 14th. They noted that the move was a valuation call. Finally, Barclays PLC lifted their target price on shares of Eaton Corp. PLC from $67.00 to $69.00 and gave the company an equal weight rating in a research report on Wednesday, August 3rd. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $63.17.

Shares of Eaton Corp. PLC (NYSE:ETN) opened at 63.12 on Friday. Eaton Corp. PLC has a 12 month low of $46.19 and a 12 month high of $68.20. The stock’s 50 day moving average is $65.03 and its 200-day moving average is $63.11. The company has a market cap of $28.70 billion, a P/E ratio of 15.58 and a beta of 1.55.

Eaton Corp. PLC (NYSE:ETN) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.07. Eaton Corp. PLC had a net margin of 9.29% and a return on equity of 12.28%. The company earned $5.10 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the previous year, the company earned $1.16 earnings per share. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, equities analysts forecast that Eaton Corp. PLC will post $4.28 EPS for the current year.

In other Eaton Corp. PLC news, insider Mark M. Mcguire sold 18,751 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $64.55, for a total transaction of $1,210,377.05. Following the completion of the transaction, the insider now owns 51,447 shares in the company, valued at approximately $3,320,903.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dorothy C. Thompson purchased 550 shares of the stock in a transaction on Friday, August 19th. The shares were purchased at an average price of $67.32 per share, with a total value of $37,026.00. Following the acquisition, the director now directly owns 550 shares in the company, valued at $37,026. The disclosure for this purchase can be found here. Corporate insiders own 0.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of ETN. Physicians Financial Services Inc. boosted its position in Eaton Corp. PLC by 111.7% in the second quarter. Physicians Financial Services Inc. now owns 1,706 shares of the company’s stock valued at $102,000 after buying an additional 900 shares during the period. Kistler Tiffany Companies LLC boosted its position in Eaton Corp. PLC by 2.8% in the second quarter. Kistler Tiffany Companies LLC now owns 1,809 shares of the company’s stock valued at $108,000 after buying an additional 49 shares during the period. Zions Bancorporation boosted its position in Eaton Corp. PLC by 209.7% in the first quarter. Zions Bancorporation now owns 1,753 shares of the company’s stock valued at $110,000 after buying an additional 1,187 shares during the period. Ropes Wealth Advisors LLC boosted its position in Eaton Corp. PLC by 1.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,863 shares of the company’s stock valued at $111,000 after buying an additional 22 shares during the period. Finally, American National Bank boosted its position in Eaton Corp. PLC by 171.6% in the second quarter. American National Bank now owns 1,915 shares of the company’s stock valued at $114,000 after buying an additional 1,210 shares during the period. Institutional investors own 74.34% of the company’s stock.

About Eaton Corp. PLC

Related posts

Leave a Comment