In a report released yesterday, Christopher Glynn from Oppenheimer maintained a Hold rating on Eaton Corporation (ETN). The company’s shares closed yesterday at $81.30.
Glynn commented:
“Conference focused on continued performance improvement measures, while management established new expectations for through-the-cycle EPS. Management also announced plans to spin off the Lighting business (~$1.7B sales; should enhance Electrical Products OM by 150-200 bps) and divest the Automotive Fluid Conveyance business (~$150M sales; should improve Vehicle OM by about 100 bps), with each expected to close by the end of 2019. ETN’s 2019 guidance was unchanged (4-5% organic growth, segment OM up 30 bps midpoint to 17.1%, 9% midpoint EPS growth). ETN refined 2020 margin goal to ~18% from prior 17-18% (issued in 2016; vs. 15.0% for 2016) and expects 18-20% over the next five years, including maintaining ~18% during a hypothetical recession.”
According to TipRanks.com, Glynn is a 5-star analyst with an average return of 6.7% and a 60.9% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Roper Technologies.
Currently, the analyst consensus on Eaton Corporation is a Moderate Buy with an average price target of $83.67.
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The company has a one-year high of $89.46 and a one-year low of $64.46. Currently, Eaton Corporation has an average volume of 2.77M.
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Eaton Corp. Plc is a diversified power management company, which provides energy-efficient solutions for electrical, hydraulic and mechanical power. It operates through the following segments: Electrical Products, Electrical Systems and Services; Hydraulics; Aerospace and Vehicle.
