Is Eaton Corporation (NYSE:ETN) Now a Buy? How Analysts Rate it and Why Merrill Lynch Upgraded The Stock

May 18, 2018 - By Karen Cook

Eaton Corporation plc (NYSE:ETN) Logo

Investors sentiment increased to 1.15 in 2017 Q4. Its up 0.15, from 1 in 2017Q3. It improved, as 41 investors sold Eaton Corporation plc shares while 281 reduced holdings. 104 funds opened positions while 267 raised stakes. 331.54 million shares or 0.44% more from 330.10 million shares in 2017Q3 were reported.

Teacher Retirement Systems Of Texas invested in 153,183 shares. Boys Arnold accumulated 3,240 shares or 0.04% of the stock. Moreover, Texas Yale has 0.11% invested in Eaton Corporation plc (NYSE:ETN). Private Trust Communications Na holds 0.1% of its portfolio in Eaton Corporation plc (NYSE:ETN) for 6,104 shares. First Manhattan Communication reported 0% of its portfolio in Eaton Corporation plc (NYSE:ETN). Amalgamated State Bank holds 0.12% or 56,203 shares in its portfolio. Johnson Fin Gru holds 0.12% or 12,372 shares. First Mercantile holds 8,000 shares or 0.12% of its portfolio. Allen Invest Mgmt Ltd Liability Co holds 0.02% or 4,774 shares. Wedgewood Pa reported 4,445 shares. Cue Group holds 7,758 shares. Epoch Investment Prtnrs Incorporated owns 2.47 million shares for 0.65% of their portfolio. Evermay Wealth Ltd Liability Corporation invested in 0.14% or 4,775 shares. Sandy Spring State Bank owns 914 shares. Gabelli Funds Ltd Liability has 231,000 shares.

Eaton Corporation (NYSE:ETN) Stock Upgrade

The previous rating for shares of Eaton Corporation (NYSE:ETN) has been supplanted by today’s new rating by Merrill Lynch, who upgraded shares to a Buy.

Eaton Corporation plc (NYSE:ETN) Ratings Coverage

Among 12 analysts covering Eaton Corporation (NYSE:ETN), 6 have Buy rating, 0 Sell and 6 Hold. Therefore 50% are positive. Eaton Corporation has $102.0 highest and $77.0 lowest target. $86’s average target is 9.12% above currents $78.81 stock price. Eaton Corporation had 21 analyst reports since December 10, 2017 according to SRatingsIntel. On Thursday, March 8 the stock rating was upgraded by Bank of America to “Neutral”. Stifel Nicolaus maintained Eaton Corporation plc (NYSE:ETN) on Friday, January 19 with “Hold” rating. As per Thursday, May 3, the company rating was maintained by Stifel Nicolaus. Barclays Capital maintained the stock with “Equal-Weight” rating in Wednesday, May 2 report. The firm earned “Buy” rating on Monday, March 26 by Jefferies. The stock has “Hold” rating by RBC Capital Markets on Wednesday, January 3. Evercore upgraded the stock to “Outperform” rating in Monday, May 7 report. Robert W. Baird upgraded the shares of ETN in report on Wednesday, January 3 to “Buy” rating. As per Thursday, February 1, the company rating was maintained by Robert W. Baird. Stifel Nicolaus maintained the stock with “Hold” rating in Sunday, December 10 report.

The stock increased 1.47% or $1.14 during the last trading session, reaching $78.81. About 245,527 shares traded. Eaton Corporation plc (NYSE:ETN) has risen 9.67% since May 18, 2017 and is uptrending. It has underperformed by 1.88% the S&P500.

Analysts await Eaton Corporation plc (NYSE:ETN) to report earnings on August, 7. They expect $1.30 earnings per share, up 13.04 % or $0.15 from last year’s $1.15 per share. ETN’s profit will be $568.50M for 15.16 P/E if the $1.30 EPS becomes a reality. After $1.10 actual earnings per share reported by Eaton Corporation plc for the previous quarter, Wall Street now forecasts 18.18 % EPS growth.

Eaton Corporation plc operates as a power management firm worldwide. The company has market cap of $34.46 billion. The Company’s Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products. It has a 11.8 P/E ratio. The companyÂ’s Electrical Systems and Services segment provides power distribution and assemblies, three phase power quality products, hazardous duty electrical equipment, explosion-proof instrumentation, utility power distribution, power reliability equipment, and services.

More recent Eaton Corporation plc (NYSE:ETN) news were published by: Benzinga.com which released: “Benzinga’s Top Upgrades, Downgrades For May 18, 2018” on May 18, 2018. Also Investorplace.com published the news titled: “3 Weak Stocks Begging for Bear Trades” on May 14, 2018. Seekingalpha.com‘s news article titled: “Eaton Not Getting Much Love At All” with publication date: May 02, 2018 was also an interesting one.

Eaton Corporation plc (NYSE:ETN) Ratings Chart

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