Eaton Corporation plc (ETN) Can’t Be More Hot. Just Reaches 52-Week High

January 14, 2018 - By Michael Collier

Investors sentiment decreased to 1 in 2017 Q3. Its down 0.07, from 1.07 in 2017Q2. It dived, as 59 investors sold Eaton Corporation plc shares while 280 reduced holdings. 80 funds opened positions while 259 raised stakes. 330.10 million shares or 0.23% less from 330.85 million shares in 2017Q2 were reported.
Twin Tree Limited Partnership reported 0% in Eaton Corporation plc (NYSE:ETN). Churchill Management has invested 0.42% in Eaton Corporation plc (NYSE:ETN). Smithfield Tru Comm accumulated 13,152 shares. Bnp Paribas Arbitrage Sa has invested 0.06% in Eaton Corporation plc (NYSE:ETN). Annex Advisory Services Ltd Liability Corporation owns 6,343 shares. Sg Americas Securities Lc accumulated 0.06% or 87,578 shares. Jefferies Gp Limited Liability holds 0.06% or 111,849 shares in its portfolio. Shine Investment Advisory Services owns 479 shares. Invesco Ltd stated it has 5.27M shares. Nwq Inv Mngmt Co Lc reported 0.09% in Eaton Corporation plc (NYSE:ETN). Strategy Asset Managers Ltd Liability Co invested in 21,644 shares. Peapack Gladstone Fincl Corporation reported 6,136 shares. Moreover, Miller Howard Invests Ny has 1.21% invested in Eaton Corporation plc (NYSE:ETN). Chem National Bank reported 0.11% in Eaton Corporation plc (NYSE:ETN). Swiss Financial Bank has invested 0.14% in Eaton Corporation plc (NYSE:ETN).

The stock of Eaton Corporation plc (NYSE:ETN) hit a new 52-week high and has $88.45 target or 5.00 % above today’s $84.24 share price. The 7 months bullish chart indicates low risk for the $37.47 billion company. The 1-year high was reported on Jan, 14 by Barchart.com. If the $88.45 price target is reached, the company will be worth $1.87 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.30% or $0.25 during the last trading session, reaching $84.24. About 2.42M shares traded or 1.01% up from the average. Eaton Corporation plc (NYSE:ETN) has risen 31.02% since January 14, 2017 and is uptrending. It has outperformed by 14.32% the S&P500.

Analysts await Eaton Corporation plc (NYSE:ETN) to report earnings on February, 1. They expect $1.24 earnings per share, up 10.71 % or $0.12 from last year’s $1.12 per share. ETN’s profit will be $551.55 million for 16.98 P/E if the $1.24 EPS becomes a reality. After $1.25 actual earnings per share reported by Eaton Corporation plc for the previous quarter, Wall Street now forecasts -0.80 % negative EPS growth.

Eaton Corporation plc (NYSE:ETN) Ratings Coverage

Among 29 analysts covering Eaton Corporation (NYSE:ETN), 8 have Buy rating, 4 Sell and 17 Hold. Therefore 28% are positive. Eaton Corporation has $92.0 highest and $51 lowest target. $69.95’s average target is -16.96% below currents $84.24 stock price. Eaton Corporation had 76 analyst reports since July 31, 2015 according to SRatingsIntel. The firm has “Hold” rating by Stifel Nicolaus given on Friday, July 7. CLSA initiated the shares of ETN in report on Monday, October 19 with “Underperform” rating. Bernstein downgraded Eaton Corporation plc (NYSE:ETN) rating on Monday, November 2. Bernstein has “Market Perform” rating and $59 target. The firm earned “Sector Perform” rating on Thursday, July 30 by RBC Capital Markets. William Blair downgraded the shares of ETN in report on Thursday, October 15 to “Neutral” rating. Bernstein maintained it with “Market Perform” rating and $68 target in Monday, May 2 report. The firm has “Underperform” rating given on Tuesday, October 17 by Bank of America. The stock has “Buy” rating by Robert W. Baird on Wednesday, January 3. The company was maintained on Monday, May 2 by RBC Capital Markets. The firm has “Hold” rating given on Thursday, October 5 by Jefferies.

More notable recent Eaton Corporation plc (NYSE:ETN) news were published by: Marketwatch.com which released: “Eaton Corp. PLC” on July 20, 2009, also Benzinga.com with their article: “Your Easy Guide To Credit Suisse’s New Top Stocks List” published on September 11, 2017, Benzinga.com published: “Nissan-Eaton Partnership Another Example Of Tesla’s Innovation Impact” on May 12, 2016. More interesting news about Eaton Corporation plc (NYSE:ETN) were released by: Seekingalpha.com and their article: “Eaton Plc (ETN) Q3 2017 Results – Earnings Call Transcript” published on October 31, 2017 as well as Benzinga.com‘s news article titled: “Limited Upside Seen For Parker-Hannifin, Analyst Steps To The Sidelines” with publication date: October 02, 2017.

Eaton Corporation plc operates as a power management firm worldwide. The company has market cap of $37.47 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 13.27 P/E ratio. The company??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.

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