Oppenheimer analyst Christopher Glynn maintained a Hold rating on Eaton Corporation (NYSE: ETN) today. The company’s shares closed yesterday at $76.97.
Glynn wrote:
“We discussed operational and end market outlooks and capital allocation. ETN views >85% of its portfolio at the early/mid or mid-cycle growth stage, and sees stable market dynamics for the balance. Recent strong ESS order growth (8% 1Q18, 12% 4Q17) reflects mainly global industrial recovery/capacity utilization, with less impact from O&G so far. As ESS posted 2% organic revenue growth the past two quarters, following 11 quarters ranging from (5)% to flat, the setup favors an extended runway. Particularly robust strength or outlook within the ETN portfolio noted for defense, O&G (mid-stream strongest), and hyper scale data centers. Conviction remains high for no price/cost net headwind; balance is fine currently, more price coming, some cost moderation ex.-oil.”
According to TipRanks.com, Glynn is a 5-star analyst with an average return of 10.6% and a 66.8% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Roper Technologies.
Eaton Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $86.83.
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The company has a one-year high of $89.85 and a one-year low of $69.82. Currently, Eaton Corporation has an average volume of 2.91M.
Based on the recent corporate insider activity of 50 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.
