Investors Buy Shares of Eaton Corporation, PLC (ETN) on Weakness

Investors bought shares of Eaton Corporation, PLC (NYSE:ETN) on weakness during trading hours on Tuesday. $82.68 million flowed into the stock on the tick-up and $40.66 million flowed out of the stock on the tick-down, for a money net flow of $42.02 million into the stock. Of all stocks tracked, Eaton Corporation, PLC had the 13th highest net in-flow for the day. Eaton Corporation, PLC traded down ($1.16) for the day and closed at $78.07

ETN has been the topic of several recent research reports. JMP Securities initiated coverage on shares of Eaton Corporation, PLC in a research report on Monday, June 19th. They issued a “market perform” rating on the stock. Zacks Investment Research upgraded shares of Eaton Corporation, PLC from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research report on Wednesday, July 5th. Stifel Nicolaus reiterated a “hold” rating and issued a $80.00 price objective on shares of Eaton Corporation, PLC in a research report on Friday, July 7th. Wolfe Research initiated coverage on shares of Eaton Corporation, PLC in a research report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $78.00 price objective on shares of Eaton Corporation, PLC in a research report on Wednesday, July 12th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $81.38.

The stock has a 50-day moving average of $75.60 and a 200 day moving average of $75.97. The firm has a market cap of $34.73 billion, a P/E ratio of 17.90 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 analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the company posted $1.07 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts expect that Eaton Corporation, PLC will post $4.60 earnings per share for the current fiscal year.

In other Eaton Corporation, PLC news, Director Deborah L. Mccoy sold 6,450 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $73.17, for a total transaction of $471,946.50. Following the transaction, 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 SEC, which is accessible through the SEC website. Corporate insiders own 0.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Harfst & Associates Inc. bought a new stake in shares of Eaton Corporation, PLC in the 1st quarter valued at about $109,000. Captrust Financial Advisors bought a new stake in shares of Eaton Corporation, PLC in the 2nd quarter valued at about $133,000. Guardian Life Insurance Co. of America increased its stake in shares of Eaton Corporation, PLC by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,742 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 12 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in shares of Eaton Corporation, PLC by 168.8% in the 1st quarter. Citizens Financial Group Inc. RI now owns 2,059 shares of the industrial products company’s stock valued at $153,000 after acquiring an additional 1,293 shares during the last quarter. Finally, Acrospire Investment Management LLC increased its stake in shares of Eaton Corporation, PLC by 325.9% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,091 shares of the industrial products company’s stock valued at $163,000 after acquiring an additional 1,600 shares during the last quarter. Institutional investors own 75.84% of the company’s stock.

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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.

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