In a report released today, Christopher Glynn from Oppenheimer maintained a Hold rating on Eaton Corporation (NYSE: ETN). The company’s shares opened today at $74.42.
Glynn noted:
“ETN’s segment OM rose 120 bps y-o-y, supporting 14% EPS growth on 6% organic revenue expansion, near 7% guidance and impacted by lower than expected organic growth at Electrical Products and Hydraulics. ESS organic was in line/+ with 9% organic, Vehicle clearly ahead at 7% (NAFTA class 8 2018 outlook to 320K from 295K; expects 2019 another growth year), and the smaller Aerospace segment was especially strong (9% organic vs. ~6% expectations; OM up 280 bps to 22.0%). ESS orders slowed to up 4% (from averaging ldd for preceding three quarters), reflecting slow/stalled project commitments in September (expected temporary, as large projects in process not typically that elastic).”
According to TipRanks.com, Glynn is a 5-star analyst with an average return of 7.8% and a 59.6% 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 $84.44, which is a 13.5% upside from current levels. In a report issued on October 31, Morgan Stanley also maintained a Hold rating on the stock with a $80 price target.
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Eaton Corporation’s market cap is currently $31.96B and has a P/E ratio of 15.14. The company has a Price to Book ratio of 1.91.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock.
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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.
