Merrill Lynch Decides to Upgrade Eaton Corporation (NYSE:ETN). Will Other Analysts Follow Suit?

May 18, 2018 - By Vivian Park

Eaton Corporation plc (NYSE:ETN) Logo

Investors sentiment increased to 1.15 in 2017 Q4. Its up 0.15, from 1 in 2017Q3. It is positive, 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.

Moreover, Rampart Invest Ltd Liability Co has 0.17% invested in Eaton Corporation plc (NYSE:ETN). Gargoyle Invest Advisor Ltd Com holds 35,192 shares or 1.11% of its portfolio. Factory Mutual Commerce reported 603,656 shares stake. Parkside Savings Bank And Trust has 1,503 shares. 5,531 were accumulated by Two Sigma Limited Liability. Kistler invested 0.05% in Eaton Corporation plc (NYSE:ETN). State Of New Jersey Common Pension Fund D, a New Jersey-based fund reported 140,000 shares. Boston Prns reported 9.13 million shares stake. Keybank National Association Oh reported 396,135 shares stake. Bancorporation Of Montreal Can owns 345,468 shares. Federated Investors Pa reported 397,269 shares stake. Gam Holding Ag holds 29,019 shares. Missouri-based Benjamin F Edwards And Company Incorporated has invested 0.01% in Eaton Corporation plc (NYSE:ETN). Wunderlich Managemnt has invested 0.98% in Eaton Corporation plc (NYSE:ETN). Fil Ltd holds 0% or 8,582 shares in its portfolio.

Eaton Corporation (NYSE:ETN) Stock Upgrade

In a note issued to investors and clients on Friday, 18 May, Merrill Lynch increased their rating for shares of Eaton Corporation (NYSE:ETN) 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. The firm earned “Buy” rating on Wednesday, May 2 by Citigroup. The rating was maintained by Stifel Nicolaus on Sunday, December 10 with “Hold”. The rating was maintained by Stifel Nicolaus on Tuesday, April 3 with “Buy”. The stock of Eaton Corporation plc (NYSE:ETN) earned “Hold” rating by Jefferies on Thursday, February 1. The rating was upgraded by J.P. Morgan to “Hold” on Thursday, March 1. The firm earned “Outperform” rating on Monday, May 7 by Evercore. As per Thursday, February 1, the company rating was maintained by RBC Capital Markets. The rating was maintained by Stifel Nicolaus with “Buy” on Thursday, May 3. The rating was upgraded by Bank of America on Thursday, March 8 to “Neutral”. The firm has “Neutral” rating given on Thursday, March 1 by JP Morgan.

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 EPS, up 13.04 % or $0.15 from last year’s $1.15 per share. ETN’s profit will be $568.50 million for 15.16 P/E if the $1.30 EPS becomes a reality. After $1.10 actual EPS 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: Seekingalpha.com which released: “Eaton Not Getting Much Love At All” on May 02, 2018. Also Benzinga.com published the news titled: “Benzinga’s Top Upgrades, Downgrades For May 18, 2018” on May 18, 2018. Investorplace.com‘s news article titled: “3 Weak Stocks Begging for Bear Trades” with publication date: May 14, 2018 was also an interesting one.

Eaton Corporation plc (NYSE:ETN) Ratings Chart

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