Eaton Corporation, PLC (NYSE:ETN) – Investment analysts at KeyCorp reduced their FY2018 earnings per share (EPS) estimates for shares of Eaton in a report released on Thursday. KeyCorp analyst J. Hammond now forecasts that the industrial products company will post earnings of $4.95 per share for the year, down from their prior forecast of $5.10.

A number of other equities analysts also recently commented on the company. Citigroup upped their target price on Eaton from $88.00 to $90.00 and gave the company a “buy” rating in a report on Friday, October 13th. Zacks Investment Research upgraded Eaton from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a report on Tuesday, January 2nd. Stifel Nicolaus restated a “hold” rating and set a $80.00 target price on shares of Eaton in a report on Monday, December 11th. Jefferies Group upped their target price on Eaton from $70.00 to $80.00 and gave the company a “hold” rating in a report on Wednesday, November 1st. Finally, Oppenheimer restated a “hold” rating on shares of Eaton in a report on Tuesday, October 31st. Five analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $83.67.

Shares of Eaton (NYSE ETN) traded up $0.76 during mid-day trading on Monday, reaching $85.12. The company’s stock had a trading volume of 2,340,834 shares, compared to its average volume of 2,495,422. The company has a quick ratio of 1.02, a current ratio of 1.43 and a debt-to-equity ratio of 0.44. Eaton has a 12-month low of $67.75 and a 12-month high of $85.32. The company has a market capitalization of $37,170.00, a P/E ratio of 19.52, a P/E/G ratio of 1.98 and a beta of 1.38.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.25. Eaton had a return on equity of 12.89% and a net margin of 14.21%. The firm had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis.

In related news, Director Christopher M. Connor sold 6,450 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $78.04, for a total value of $503,358.00. Following the sale, the director now directly owns 20,100 shares of the company’s stock, valued at $1,568,604. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Charles E. Golden sold 4,311 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $76.03, for a total value of $327,765.33. Following the completion of the sale, the director now directly owns 20,275 shares in the company, valued at $1,541,508.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,938 shares of company stock worth $4,597,529. 0.80% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ETN. Cable Hill Partners LLC grew its stake in shares of Eaton by 174.8% in the third quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 867 shares during the last quarter. Fieldpoint Private Securities LLC purchased a new stake in shares of Eaton in the third quarter worth $130,000. Harfst & Associates Inc. grew its stake in shares of Eaton by 21.8% in the second quarter. Harfst & Associates Inc. now owns 1,798 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 322 shares during the last quarter. Carroll Financial Associates Inc. grew its stake in shares of Eaton by 113.6% in the fourth quarter. Carroll Financial Associates Inc. now owns 2,805 shares of the industrial products company’s stock worth $221,000 after acquiring an additional 1,492 shares during the last quarter. Finally, Wealthsource Partners LLC purchased a new stake in shares of Eaton in the second quarter worth $226,000. 76.53% of the stock is currently owned by hedge funds and other institutional investors.

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Eaton 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 (NYSE:ETN)

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