November 25, 2016 - By Pete Kolinski · 0 Comments
Eaton Corp (NYSE:ETN) institutional sentiment decreased to 1.07 in 2016 Q2. Its down -0.12, from 1.19 in 2016Q1. The ratio dropped, as 363 hedge funds increased or opened new positions, while 304 sold and reduced their positions in Eaton Corp. The hedge funds in our partner’s database now possess: 324.53 million shares, down from 329.64 million shares in 2016Q1. Also, the number of hedge funds holding Eaton Corp in their top 10 positions decreased from 11 to 9 for a decrease of 2. Sold All: 68 Reduced: 236 Increased: 285 New Position: 78.
The stock increased 1.39% or $0.91 on November 23, hitting $66.49. Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) has risen 5.56% since April 22, 2016 and is uptrending. It has outperformed by 0.15% the S&P500.
Analysts await Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) to report earnings on February, 1. They expect $1.10 EPS, down 5.98% or $0.07 from last year’s $1.17 per share. ETN’s profit will be $496.81 million for 15.11 P/E if the $1.10 EPS becomes a reality. After $1.15 actual EPS reported by Eaton Corporation, PLC Ordinary Shares for the previous quarter, Wall Street now forecasts -4.35% negative EPS growth.
According to Zacks Investment Research, “Eaton Corporation plc is a power management company. The Company is a provider of electrical products, systems and services for power distribution and control, power transmission, lighting and wiring products; 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. It serves the Agriculture and Forestry, Aviation, Community Infrastructure, Construction, Data Centers, Energy, Government & Military, Healthcare, Manufacturing & Industrial, Residential and Vehicles markets. Eaton Corporation plc, formerly known as Eaton Corporation Limited is headquartered in Cleveland, Ohio.”
Sandhill Capital Partners Llc holds 4.03% of its portfolio in Eaton Corporation, PLC Ordinary Shares for 215,710 shares. Mcrae Capital Management Inc owns 130,903 shares or 3.62% of their US portfolio. Moreover, Gillespie Robinson & Grimm Inc has 3.37% invested in the company for 351,575 shares. The New York-based Matrix Asset Advisors Inc Ny has invested 3.36% in the stock. Lyrical Asset Management Lp, a New York-based fund reported 2.68 million shares.#img1#
Ratings analysis reveals 19% of Eaton Corporation’s analysts are positive. Out of 21 Wall Street analysts rating Eaton Corporation, 4 give it “Buy”, 2 “Sell” rating, while 15 recommend “Hold”. The lowest target is $51 while the high is $78. The stock’s average target of $60 is -9.76% below today’s ($66.49) share price. ETN was included in 41 notes of analysts from July 31, 2015. Argus Research upgraded the stock to “Buy” rating in Wednesday, August 10 report. On Thursday, October 15 the stock rating was downgraded by William Blair to “Neutral”. The rating was initiated by Standpoint Research on Wednesday, January 20 with “Buy”. The firm has “Market Perform” rating given on Thursday, October 15 by Avondale. The rating was downgraded by KeyBanc Capital Markets on Friday, September 9 to “Sector Weight”. The company was downgraded on Wednesday, November 11 by Argus Research. The rating was downgraded by Atlantic Securities to “Neutral” on Friday, August 14. The stock of Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) earned “Underperform” rating by CLSA on Monday, October 19. The rating was maintained by RBC Capital Markets with “Sector Perform” on Thursday, July 30. The firm has “Market Perform” rating by Bernstein given on Monday, November 2.
Eaton Corporation plc (Eaton), incorporated on May 10, 2012, is a power management company. The Firm provides energy-efficient solutions that help its clients to manage electrical, hydraulic and mechanical power. The Firm sells products to clients in over 175 countries. The Firm operates in four divisions: Electrical Products and Electrical Systems and Services, Hydraulics, Aerospace and Vehicle.
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By Pete Kolinski